The EOS Network introduces a substantial staking rewards program involving 250 million EOS tokens to incentivize early stakers. The program incorporates enhanced tokenomics and prolonged lock-up periods to attract participants.

With an allocation exceeding $127 million, the EOS Network rewards stakers as part of its updated tokenomics strategy. Approximately 85,600 EOS tokens are distributed daily to stakers, offering an initial Annual Percentage Yield (APY) surpassing 60%. Stakers will be granted REX tokens in exchange for staking EOS, serving as an important accounting unit. The staking rewards rate is subject to fluctuations based on the staking and unstaking activities within the network.

Furthermore, the staking lock-up period on the EOS Network has been extended from four days to 21 days. EOS Block Producers will now receive network-generated fees in addition to their block rewards, further motivating infrastructure providers as network demand escalates.

The updated staking program aims to provide sustainable rewards to participants and propel ecosystem growth, as stated by the EOS Network team in a recent blog post. The CEO of the EOS Network Foundation, Yves La Rose, announced the community's endorsement of a proposal to limit the EOS token supply to 2.1 billion and eliminate excess tokens. This move, highlighted by crypto.news, involves burning nearly 80% of the total EOS supply from future emissions, setting a capped supply of 2.1 billion tokens instead of the original 10 billion.

Established in 2017 by Block.one, EOS rose to prominence following a substantial $4 billion initial coin offering (ICO). However, disputes surfaced later between the foundation and Block.one, alleging unfulfilled promises of reinvesting ICO funds back into the EOS Network.