KCN EOS REDUCES ANNUAL INFLATION FROM 5% TO 1%

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KCN EOS REDUCES ANNUAL INFLATION FROM 5% TO 1%

By community polling, EOS reduces the annual inflation rate from 5% to 1%. According to the project team: “Currently, EOS has a 5% annual rate of inflation. Out of this 5% inflation, 4% is being accumulated in the eosio.saving account and 1% is distributed to block producers in pay for running/securing the network. As of 5th March 2019 the eosio.saving account has a token balance in excess of 28.75 million EOS ($108 million) and this number grows larger with each passing day. Approximately 3.6 million EOS tokens (4%) are created and sent to the eosio.saving account each month and this number increases over time through the mechanism of compounding inflation. However, 8 months have past and there is still no defined use for this large quantity of EOS tokens that continues to flow into the eosio.saving account. It is therefore time to turn the tap off and reduce the level of inflation down from an unnecessarily high 5% to a more reasonable 1% by cutting out the 4% that’s being generated and sent to the eosio.saving account.”The news release partner STEX.com.

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