Online voting for the revised white paper released by Cosmos Hub is now open. This governance proposal aims to use ATOM as preferred collateral in the Cosmos network and promote Cosmos as an infrastructure services platform. Proposal can be passed if 40% approved.
On October 31, a vote on the ATOM 2.0 upgrade proposal for the Cosmos cross-network infrastructure platform was held. This governance proposal aims to use ATOM as preferred collateral in the Cosmos network and promote Cosmos as an infrastructure services platform. Hub will move to the next stage.
As proposed, the protocol has completely fulfilled its original vision as Cosmos Hub with Tendermint, IBC and SDK released and Interchain Security and Liquid Staking mechanisms up and running.
The new design of Cosmos will feature Interchain Scheduler and Interchain Allocator. The first will act as a cross-chain blockchain space marketplace generating MEV rewards to power the second. In turn, the Interchain Allocator will distribute these rewards to support new Cosmos chains, stimulating scaling and thus, expanding the total resolved market size of the Interchain Scheduler.
The voting deadline is November 14 and it can only be passed when the number of delegates exceeds 40% of the total number of votes.
So far, the current voter turnout is around 9.18% and more than 91% of users have approved the proposal.
As updated in an earlier Coincu News article, the white paper outlined a new role for the Cosmos Hub as the core of cross-chain security, meaning other chains will be able to use the Cosmos Hub to secure their own network.
The white paper also introduces mechanisms designed to add value to Cosmos Hub’s native token, ATOM, its new role as collateral of choice in the Cosmos Network. Cosmos Hub will soon support liquidity staking function, thus increasing ATOM liquidity and will significantly reduce the number of ATOM tokens issued to the network in the long term.
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