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**Proposal to Cap EOS Supply at 2.1 Billion Approved, Says EOS Network Foundation CEO**

*by Vishal Chawla*

*CRYPTO ECOSYSTEMS • May 31, 2024, 3:58 AM EDT*

*Published 1 minute earlier*

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*Ricardo Santos for The Block*

**Quick Take**

Yves La Rose, CEO of the EOS Network Foundation, announced the approval of a proposal to cap the EOS supply at 2.1 billion tokens and burn the excess. This decision, supported by the block producers, will involve burning nearly 80% of the total supply from future emissions.

The EOS Network Foundation, which took control from Block.one in 2021, introduced this proposal through a multi-signature approach, gaining approval from at least 15 of the 21 block producers. La Rose confirmed the consensus in an X post, stating that the initial update will be implemented in the coming months.

Currently, EOS has a circulating supply of 1.15 billion tokens, representing 54% of the planned supply. An additional 950 million tokens will be minted to support ecosystem growth and reward stakers and block producers.

Under La Rose's leadership, the EOS Network Foundation, established in August 2021, aims to support the EOS community as a non-profit. The foundation has had disputes with Block.one, accusing it of failing to reinvest significant ICO funds back into the EOS Network as promised.