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Evmos proposes to destroy 132.3 million EVMOS from incentive pool accounts

Evmos proposes to destroy 132.3 million EVMOS from incentive pool accounts

Cointime2023/12/04 15:51
By: Cointime
EVMOS0.00%ATOM+0.15%

According to Layer1 blockchain Evmos core team, a new token destruction mechanism has been proposed, which includes:Destroying all Cosmos transaction fees based on the announcement of the abandonment of Cosmos transaction format;Engraving BASEFEE of EIP-1559 100% to EVMOS Revenue (also known as CSR) module for unregistered contracts;Destroying about 132.3 million EVMOS tokens from the incentive pool account (the second largest account);Abandoning the incentive module to reduce blockchain storage;Setting the allocation of the incentive pool account (currently 33.3%) to zero (0%) to prevent further token accumulation;Reducing token issuance (inflation) by 1/3 since the token allocation for incentives is no longer needed, from about 26.7% to about 17.8%.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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