Flare Networks is set to open voting on FIP.16, a proposal aimed at reducing the inflation rate of its native token, FLR, from 5% to 3%. The proposal also seeks to capture maximum extractable value (MEV) at the protocol level. Revenues generated from this initiative would be redirected to fund token buybacks and burns, potentially enhancing the value of FLR by reducing its supply. Voting on this proposal begins tomorrow, marking a significant step in Flare Networks' efforts to optimize its tokenomics.