PANews reported on January 15 that IOST officially announced that its rebranding proposal has been approved by the community with a high vote. According to the new plan, the total supply of IOST will increase from 2.132 billion to 4.264 billion in the next 60 months, of which 97% of the new supply will be allocated to the community. At the same time, the circulating supply will increase by 2.22%, or 474 million IOST, one month after the rebranding is completed.

This upgrade marks the official launch of IOST 3.0, and 50% of the new supply will be used in the next five years for network infrastructure development, community development plans, payment innovation funds and other fields. In addition, IOST 3.0 will introduce a number of value protection mechanisms, such as an extended token unlocking plan, Layer 2 burning mechanism, and DAO-led regular destruction activities to ensure long-term value growth.

The implementation of IOST3.0 will be completed in three phases, covering infrastructure deployment, payment protocol activation, cross-chain bridging and global market expansion.

Earlier news, IOST released a new token economics: 97% of the newly issued tokens will be used for the community .