Public blockchain Klaytn official team submits a proposal to reduce the block reward by 1/3

2022/10/24 02:11

According to Cryptopotato, Klaytn, a metaverse and gamefi-focused public blockchain, announced a governance proposal on October 23 to reduce its block rewards. According to an official statement, the new Q3 updates submitted to the Klaytn Governance Council (GC) seek to optimize the issuance level of KLAY tokens through a governance proposal that lowers block rewards by 1/3. Per Klaytn, the block rewards would go from 9.6 KLAY to 6.4 KLAY, distributed 50% to the GC, 40% to the Klaytn Growth Fund (KGF), and 10% to the Klaytn Improvement Reserve. The proposed reduction was calculated based on the current circulation of the tokens vs. their demand. The team expects to reduce KLAY inflation.

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