Cosmos Hub rejects a proposal to reduce the maximum inflation rate to zero
The indicator remained at 7%
23.01.2024 - 11:02
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2 min
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What’s new? Members of the Cosmos Hub community have voted against proposal 868, which involved changing the network’s economic policy by lowering the minimum inflation parameter from 7% to 0% if more than two-thirds of ATOM’s native token holdings were in bonds. The proposal was meant to alleviate inflationary pressures on ATOM, especially in scenarios where a significant portion of coins are held in bonds.
What else is known? 48,6% of validators voted against the proposal, 25,1% supported and 25,9% abstained. Validators who voted against included Everstake, Cosmostation, Chorus One, Allnodes, Stake.fish, Swish Staking, Forbole, Provalidator, and Keplr. Supporters included Game, Informal, Stakecito, P2P, Polkachu, Pryzm, IrisNet, and Leap.
Meanwhile, in November, the Cosmos Hub community endorsed a proposal to lower the maximum native token inflation rate from 14% to 10%.
As of January 23, 10:40 UTC, ATOM ranks 25th in the overall cryptocurrency ranking with a capitalization of $3,4 billion and is trading at $8,92 on Binance, having lost 4,49% in a day and 14,9% in a week.
Late last year, the community of the decentralized exchange (DEX) PancakeSwap almost unanimously approved a proposal to reduce the maximum exchange token offering from 750 million to 450 million CAKE, it went into effect on January 4.
In October, the community of the Lido liquid staking protocol supported the withdrawal of support for the Solana blockchain due to unsustainable financial performance, since then the native token SOL has appreciated 266%. SOL coins must be unlocked by Lido members by February 4.
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