EIDOS announced their soon to come EOS sisterchain

The EIDOS team recently announced that they will release their own EOS sisterchain which will be named YAS Network. Soon they will launch a new smart contract that will allow EIDOS holders to mine the new YAS tokens.

The smart contract will have some particular features that will define the mining mechanism:

• Send EIDOS and receive the same amount of YAS tokens
• Less than 100M YAS tokens that can be burned by sending them back to the contract
• If you send back YAS you will receive your EIDOS back
• When 100M YAS will be minted the contract will freeze transfers, locking your YAS forever
• All 100M EIDOS will be frozen forever as well
• The YAS Network will then be launched based on the YAS token snapshot

The YAS Network will be an EOSIO chain in all respects, with some different features from the EOS mainnet:

• Each account can vote only for 1 block producer
• The RAM market will have 50% connector weight
• No RAM inflation
• No white paper
• No constitution
• 2% inflation: 1% for BP rewards, 1% for savings

The block producers will be in practice the rulers of the chain, reflecting their own token holders and deciding the direction of the chain.

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Why a new chain?

"We can’t reiterate enough our dream to have a really democratic chain and this is yet another attempt and we are doing it as fair as we can. The YAS network attempts to be a cheaper alternative sisterchain to EOS. It will be a general purpose high performance smart contract platform which is cheaper to run and be truly governed by majority rule and not a collusion of a few rich individuals."

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Sources:

• YAS Network