Cosmos community approves proposal to reduce ATOM inflation by half

November 26, 2023 01:59 AM PST | By Invezz
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The Cosmos community approved the proposal to reduce the token’s inflation from 20% to 10%. 41.1% of the voters supported the transition, while 31.9% opposed it. Meanwhile, reducing inflation is positive for the crypto as it ensures improved security and lucrative staking yields.

Source – Mintscan

Cosmos’s #848 proposal will reduce yearly interest rates for staking. That would boost ATOM price growth and ensure solid long-term returns for investors and traders.

Cosmos to reduce ATOM inflation by a half

The Cosmos Hub community has passed a proposal to trim ATOM’s inflation rate from 20% to 10% and heighten the blockchain’s security. Meanwhile, the decision saw the highest turnout (72.7%) in the platform’s history.

Cosmos introduced the proposal after a report from research company Blockworks revealed that ATOM was overpaying for platform security. The crypto project suggested a switch to a set supply schedule to bolster safety.

ATOM price

Cosmos traded with an upside stance at press time. It gained 7.63% in the past 24 hours to $9.67. Further, ATOM investors have seen their portfolios increase by over 36% within the last 30 days.

Source – Coinmarketcap

Meanwhile, the approval of proposal #848 means Cosmos enthusiasts can expect increased returns, which is bullish for ATOM’s price in the longer term.

The post Cosmos community approves proposal to reduce ATOM inflation by half appeared first on Invezz


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