[PRESS RELEASE – Istanbul, Turkey, October 3rd, 2023]
At this year’s Cosmoverse 2023 conference in Istanbul, the Cosmos Hub community will be presented with a new vision for the Cosmos Hub and tokenomics of its native cryptocurrency, $ATOM.
Funded by AADAO (ATOM Accelerator DAO), over the past couple of months, independent teams have worked on new models and concepts that hope to solidify the Cosmos Hub as the Schelling Point of the Interchain. These updates focus on leveraging the architecture of the ATOM Economic Zone (AEZ) and the position of the Cosmos Hub in the broader crypto industry.
Over the next couple of months, the community will actively discuss the proposed ideas to ultimately decide the future of the Cosmos Hub. The move to re-evaluate $ATOM’s tokenomics and engage the Cosmos community more actively in the decision-making process reflects Cosmos’ commitment to decentralization and inclusivity.
Key Highlights of the Upcoming $ATOM Tokenomics Changes:
Community Involvement: In a shift towards greater community participation, Cosmos is placing a strong emphasis on community input in the decision-making process regarding $ATOM’s tokenomics. Potential implementations will be proposed before and at the beginning of Cosmoverse, and discussed during the last day of the conference. Discussions will also be held before governance proposals go up for a vote. This will give stakeholders a direct say and impact in shaping the future of the Cosmos Hub.
Incremental Proposals: Rather than presenting a single, monolithic proposal, the changes to $ATOM’s tokenomics will be introduced in smaller, more digestible chunks. This approach allows for more focused discussions, constructive feedback, and better alignment with the diverse interests within the Cosmos ecosystem.
Independent Teams: Several independent teams have been actively working on optimizing $ATOM’s tokenomics. Notably, Blockworks Research is focusing on liquid staking and the Cosmos Hub’s monetary and fiscal policies, Binary Builders is ensuring alignment within the ATOM Economic Zone (AEZ) through the deployment of Protocol-Owned-Liquidity, and the Blockchain Innovation Hub at RMIT University, Melbourne is designing a framework to ensure that the Cosmos Hub can capture value from shared security and establish a long term prosperous and sustainable ATOM Economic Zone.
This strategy follows the approach to increase the likelihood of aligning the community to optimize $ATOM’s tokenomics. Through community engagement in incremental discussions, Cosmos is paving the way for a more inclusive and innovative future.
About Cosmos Hub:
The Cosmos Hub is a Layer 1 blockchain with a strong focus on interoperability. By providing IBC, a communication standard for cross-chain communication, the Cosmos-SDK a developer tool kit that facilitates building an own blockchain from scratch, and interchain security, a form of shared security, the Cosmos is a network of connected blockchains – also referred to as “The Internet of Blockchains”.
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