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We shared this week’s important developments a few days ago, as we do every week. This was one of the key events for Monday. Staking plans yield significant results in many altcoins and directly impact prices by increasing token utility. EOS took the expected step and shared the details.
Why is EOS Rising?
As of today, the new stake reward program has been announced. Under the new stake rewards program, 85.6 thousand EOS will be distributed daily to Stakers. This means more investors will allocate their assets for staking, reducing the supply on exchanges. Lower supply ready for sale on exchanges can push the price up. The announcement stated the following:
“The renewed EOS stake program rewards early stakers with an initial APY of over 60%. More than 31 million EOS tokens will be distributed annually to Stakers. The EOS Staking Reward Program also includes other significant improvements. The staking lock-up period has been increased from four days to 21 days. EOS Block Producers (BPs) will start receiving fees generated by the network in addition to block reward revenues, further incentivizing infrastructure providers as network demand increases.
The updated EOS staking program is designed to provide sustainable rewards for participants and support the growth of the ecosystem.”
