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Home»TRADING NEWS»Cosmos Hub approves ATOM inflation cut proposal
TRADING NEWS

Cosmos Hub approves ATOM inflation cut proposal

By Crypto FlexsNovember 26, 20233 Mins Read
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Cosmos Hub approves ATOM inflation cut proposal
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The Cosmos Hub community has approved a proposal that aims to lower the maximum inflation rate of its token, Cosmos (ATOM), from 14% to 10% as a security enhancement measure.

The purpose of this proposal is to lower the annual interest rate for stakers with the intention of fostering long-term profitability and encouraging price growth of ATOM.

The proposal, which received 41.1% support, narrowly passed with 38.5% voting against, marking the highest voter turnout in Cosmos ecosystem history. The approved changes will increase Atom’s annual staking yield from approximately 19% to approximately 13.4%.

According to the proposal, Cosmos Hub suffered excessive security spending due to ATOM’s high inflation rate. By reducing inflation to 10%, validators claimed they could still achieve breakeven or profitable results.

The proposal received considerable response apply The largest downvote came from Zero Knowledge Validator, while validator AllNodes posted on X (formerly Twitter): concern It has been argued that the proposed changes could have a negative impact on smaller validators. Additionally, further reducing inflation could centralize the ecosystem without necessarily improving token value. Hasty and untested adjustments have the potential to compromise network integrity.

Cosmos Hub serves as the central blockchain for the Cosmos Network, which consists of a network of interconnected blockchains. ATOM tokens are utilized for staking, governance, and transaction fees within this ecosystem.

With the approval of the ATOM halving proposal, the community anticipates higher long-term profitability and potential appreciation in the token price. As of the current update, the price of ATOM on CoinGecko is $9.54, reflecting a 5.0% increase on the day and 5.70% on the week.

Evolution of Cosmos (ATOM)

The Cosmos (ATOM) network has undergone significant developments that have shaped its orbit in recent years.

A new white paper was released at the Cosmoverse conference in Colombia in September 2022, proposing a substantial expansion of the Cosmos Hub and reimagining the role of its native token, ATOM.

The white paper outlines the revamped role of hubs as the core of interchain security. This means that other chains can use the hub to secure their own networks. The paper also proposes changes to ATOM’s utility and issuance schedule, changes that the paper’s authors believe will support its informal role as an index to the broader Cosmos blockchain family.

Last September, Cosmos Hub introduction Liquid staking module. This module allows users to bypass the previous 21-day unbonding period associated with unstaking ATOM funds. Prior to this upgrade, ATOM holders experienced a 21-day lock-up period when moving funds after unstaking their tokens.

that much introduction The new module allows staked ATOM to be utilized in the Cosmos decentralized finance ecosystem without affecting staking returns.

Users can also cancel the ongoing unbonding process, returning ATOM to regular staking and participate in the liquidity staking module. This upgrade was implemented at 1:00 PM UTC on September 12, reaching a block height of 16985500 and named Gaia 12.

At press time, ATOM’s price is hovering around $9.46, up 34% this month, according to CoinGecko.

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