Since the revamped EOS staking program was launched on July 8, 2024, more than 36 million EOS tokens have been staked, according to a tweet from Tristan Dickinson, the Chief Marketing Officer at EOS Network Foundation.

The graph shared alongside the announcement illustrates a notable increase in the amount of staked EOS. For much of the year, the volume of staked EOS remained relatively stable, hovering around 60 million EOS. However, following the introduction of the new staking program, the staked amount has surged dramatically.

The revamped staking program offers an annual percentage yield (APY) of 50%, likely contributing to the increased staking activity. This significant APY incentive aims to attract more participants to the network, enhancing its security and overall engagement.

Community Response and Future Prospects

The EOS community has responded positively to the new staking program, with many tokens being staked quickly. The initiative is expected to stabilize further and potentially increase the value of the EOS token by reducing its circulating supply and encouraging long-term investment. The graph from DefiLlama showcases the dramatic rise in staked EOS, starting in early July and reaching its peak within days of the program’s launch. This visual representation underscores the immediate impact of the staking program on the EOS ecosystem.

The revamped EOS staking program has attracted significant community participation, with over 36 million EOS staked since its launch. The high APY reward is a key driver in this growth, reflecting a strong and engaged EOS user base. This development bodes well for the EOS token’s future stability and value appreciation.