Yves La Rose, CEO of the EOS Network Foundation, said a community proposal was approved to cap the EOS supply at 2.1 billion tokens and burn the excess.

The proposal, once implemented, will burn nearly 80% of the total EOS supply, primarily from future emissions, setting a fixed supply limit of 2.1 billion tokens instead of 10 billion.

The EOS Network Foundation represents the EOS community and took control from Block.one in 2021.

The foundation had previously introduced a multi-signature proposal to establish this fixed supply, and gained approval from at least 15 of the 21 EOS block producers. 

“The EOS Network has reached consensus to approve the tokenomics proposal,” La Rose wrote in an X post.

Implementation of the initial update is expected in the coming months.

EOS …