Cosmos community approves proposal to reduce ATOM inflation by half

November 26, 2023 01:59 AM PST | By Invezz

Cosmos community approves proposal to reduce ATOM inflation by half — Image source: Invezz

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.

Proposal #848 is approved ✅

The max inflation parameter will be reduced from 20% to 10%, bringing ATOM’s current inflation rate to 10%.

This decision comes with the highest turnout in Cosmos Hub history: 72.7% pic.twitter.com/03MPSsUsmx
— Cosmos Hub ⚛️ (@cosmoshub) November 25, 2023

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.

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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