PANews 15th January news, IOST officially announced that its brand restructuring proposal has been approved by the community with a high vote. According to the new plan, the total supply of IOST will increase from 2.132 billion to 4.264 billion in the next 60 months, with 97% of the new supply being allocated to the community. At the same time, the circulating supply will increase by 2.22% one month after the completion of the brand restructuring, i.e. 474 million IOST.
This upgrade marks the official launch of IOST 3.0, with 50% of the newly added supply being used for network infrastructure development, community development plans, payment innovation funds, and other areas over the next five years. In addition, IOST 3.0 will introduce multiple value protection mechanisms, such as extended token unlocking plans, Layer 2 burning mechanisms, DAO-led regular destruction activities, etc., to ensure long-term value growth.
The implementation of IOST 3.0 will be completed in three phases, covering infrastructure deployment, payment protocol activation, cross-chain bridging, and global market expansion, among other things.
Earlier news, IOST released a new token economy: 97% of newly issued tokens will be used for the community.
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