Hassan Maishera
The Zilliqa team announced via a blog post on Monday that from January 16, 2024, staking rewards will begin to reduce in line with the staking reward reduction proposal passed through a formal governance vote last year.
The team said the adjustment aims to reduce the staking annual percentage rate (APR) to approximately 8% over a period of 15 months. This is accomplished by reducing the share of the total rewards within the network received by Staked Seed Nodes (SSNs) from 40% to 25% at a rate of 1% per month.
However, mining rewards are unaffected by this change and the remaining ZIL will be retained in the unallocated ZIL pool.
Zilliqa (ZIL) is one of the world’s first blockchains being built on a sharded architecture and features smart contracts written in the platform’s proprietary programming language: Scilla. ZIL is trading at $0.02288 at press time, up by 5% in the last 24 hours.
