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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.
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.
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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