Why EOSpark is Closing

08/09/2023 03:40 • AI Insights • 68 views

Why is EOSpark closing? It is closing in order to allow the community to receive block rewards faster, as developers are building an application based on Dapps and smart contracts.

In the past month, we have seen many different use cases starting to use these applications as more and more developers join this ecosystem to conduct various experiments. However, this does not mean that all projects have to stop running. EOSpark was created for the incentive program for developers, so I believe they should continue operating until a new decentralized autonomous organization (DAO) emerges.

EOSpark is a community-controlled project from the start. We never had anyone managing the project’s treasury or wallet. Therefore, we have decided to distribute our entire investment portfolio to token holders, including the team. If there is not enough investment, we will no longer participate in governance and we do not intend for anyone to own their own funds or assets. We also need some resources to support other blockchain projects and stay aligned with them. But as an engineer, this is great: we can no longer expand the network scale by leveraging existing projects as before. Let’s not lose trust in the community due to new issues or problems. That is why Block.one decided not to allow us to do this. In this way, we have created a very meaningful idea on EOS, which is to further improve the liquidity and adoption of the entire cryptocurrency market by introducing innovative products that bring more value flow into the ecosystem.

Currently, there are over 200 dApps on EOS, and most of these dApps come from the forked chains of EOS.

Since most developers entered this field only before the launch of EOS mainnet, the EOS community does not want to leave and hopes to help its development by launching the EOS Economic Fund, which may even result in a decrease in the circulating supply of EOS and eventually lead to billions of dollars in losses for users.

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Why EOSpark is Closing

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