MEET.ONE has initiated a community code review of a proposal where ultimately a BPs multi-signature approval will be required before execution.
This proposal will reduce inflation which is currently accumulating EOS in the system account eosio.saving. If the proposal is approved the EOS network will only retain 1% of the additional issuance for rewarding Block Producers.
This proposal makes three changes to the EOS system:
1. Change the system parameter continuous_rate to 0.00995
2. Change the 5% inflation rate to 1%
3. Stop the transfer of EOS tokens to eosio.saving account
The code is currently in the community review stage. After a successful review, MEET.ONE will initiate a BP multi-signature proposal in which block producers will be asked to approve the proposal.
In the case the votes pass, the EOS system will only retain 1% of the additional issuance for block producer rewards.
1. The 5% inflation was pre-set by Dan Larimer at the release of the EOSIO platform, but we all not sure whether 5% is suitable for the real case. It’s reasonable to adjust according to reality. Recently Dan Larimer shared this same opinion that we should cancel 4% part.
2. In the original code, 1% was used for block producer reward, and 4% was allocated for a future worker proposal (WPS). However, after one year of practice, the community did not form an effective and consistent consensus on how to use funds from the 4% WPS inflation.
3. The majority of users who participated in the EOS referendum voting supported the cancellation of the 4% annual inflation, so this is the public opinion of the community.