BlockBeats News: On June 23rd, the Initia Foundation announced that the time window for the "Inflation Correction and Pledge Exit Subsidy Program" has ended. Positions that are cancelled after 2:00 pm on June 23rd will no longer be eligible for subsidies, and the subsidies will be issued before July 7th, 2025.
As previously reported, the Initia Foundation has released a governance proposal for the "Inflation Correction and Pledge Exit Subsidy Program", proposing to revise the current 5% annual release rate of the total supply of Initiat to 5% of the originally designed annual pledge supply, which is approximately 1.25% of the total supply per year. The proposal stems from an inflation rate allocation error since the creation of the company on April 24th, which resulted in a much higher than expected inflation rate for the initial inflation. The foundation proposes a two-stage subsidy plan to compensate for the loss of staking income of users affected by Proposal 39: A-class subsidy: If users initiate the release of Pledge 39 between May 20th and May 23rd, and cancel the release and continue to pledge before the proposal is executed (expected to be on June 2nd), they can receive a reward subsidy during the release period. B-class subsidy: If the user's release period is between June 2nd and June 23rd, they will receive a reward subsidy equivalent to 25% of the New Year's APR, calculated based on the actual number of release days.
