A Cosmos (ATOM) developer has unveiled a proposal that will cut the maximum inflation of the project’s native asset in half.
Zaki Manian, the co-founder of decentralized asset management protocol Sommelier, has proposed changing the max inflation parameter on Cosmos from 20% to 10%, which would drop the inflation rate to 10%.
“I believe that all empirical evidence shows that Cosmos is overpaying stakers substantially for their services. Months of high inflation in the bear market have barely budged the staking rate.
Reducing the staking rate should be a boost to [Cosmos Liquid Staking Module (LSM)] adoption and will hopefully drive more users towards Mars, Inter Protocol, Levana, etc. for higher yield.
This is just a parameter change proposal. This will impact the rate of growth of the community pool and a separate proposal to increase the community pool take should be considered.”
Cosmos is an interoperable blockchain ecosystem. The project’s native token, ATOM, is trading at $7.14 at time of writing. The 29th-ranked crypto asset by market cap is up nearly 6% in the past 24 hours.
Manian helped build the Cosmos ecosystem and launch the first public Cosmos testnet. His project, Sommelier, aims to maximize interoperability with other blockchains, according to its website.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Generated Image: Midjourney
Read the full article here
