Cosmos Hub Postponed Vote After White Paper Revision.

On the 29th of this month, a fresh and updated edition of the white paper that is the Cosmos Hub was made available for public consumption. At this very moment, members of the community are getting ready to cast their votes on the specific paper. Concerns with the issuance model for Cosmos

 

Following the revision of the White Paper, the voting for the Cosmos Hub has been delayed.


In the first version of the paper, which was published a month ago, the authors proposed establishing a redesigned Hub that would be dedicated to strengthening both the security and the interoperability of the native token, in addition to making the primary modifications to the design of the token itself. According to the white paper, it was taken into consideration that the most recent issuance model will aim to strike a healthy balance between the development of the ecosystem and the adoption of interchain relationships.

In addition to providing these services, the white paper also claimed that the ecosystem still maintained the level of security that was guaranteed by the old government. Concerns have been raised by members of the community in relation to the most recent issuance model that has been suggested on behalf of Sam Hart, who is the strategy head at the Cosmos Hub.

On proposing it, it was asserted that minting a huge number of ATOM tokens would pave the way toward decreased inflation levels. The phase of transition would witness the issuance of 10,000,000 ATOM tokens in the initial month. This would reduce over time till reaching a stable state after a period of up to thirty-six months. On the other hand, according to the updated version, the proposal takes into account the minting of up to 4,000,000 ATOM tokens.

Cosmos to Become an Infrastructure Services Provider and ATOM to Turn into Preferred Collateral

In the words of Hart, the document points toward the Cosmos Hub’s shift to the further level of having the status of a venue offering infrastructure-related services. In line with the respective document, the role of ATOM would be that of preferred collateral operating under the Cosmos Network.

Apart from that, the white paper pointed toward a couple of functionalities, taking into account Interchain Allocator and Interchain Scheduler, in addition to mentioning an exclusive optimized issuance system to deal with liquid staking. As the document puts it, Cosmos Councils would manage the proposed strategy through the domain-specialized entities having the responsibility to carry out operations and development.


Orizu Ebube

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