Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Why Was Cosmos Hub’s ATOM 2.0 Proposal Rejected?

by Index Investing News
November 14, 2022
in Cryptocurrency
Reading Time: 4 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


Key Takeaways

  • A hotly contested vote saw the Cosmos Hub community rejecting the proposal to implement the ATOM 2.0 whitepaper.
  • 37.99% of the tokens voted “NoWithVeto,” signaling strong pushback from the community.
  • The proposal caused controversy over its revamped tokenomics and desire to implement multiple complex new tools all at once.

Share this article

The ATOM 2.0 proposal has rejected by the Cosmos Hub community in a hotly contested vote; the proposal failed despite gaining support from the majority of voters.

ATOM 2.0 Fails to Pass

After weeks of debate and a tense two-week voting period, the Cosmos Hub community decided earlier this morning to reject Proposal #82, “ATOM 2.0: A new vision for Cosmos Hub.” 

Based on a whitepaper penned by Cosmos co-founder Ethan Buchman and eleven others, the proposal was marketed as the next step in Cosmos Hub’s evolution. Among other things, the whitepaper suggested drastically changing ATOM’s tokenomics and building two new tools, the Interchain Allocator and the Interchain Scheduler, which they argued would help cement Cosmos Hub as one of the most important appchains in the broader Cosmos ecosystem.

The proposal, now considered by some in the community as the most controversial in the history of Cosmos, saw an unusually high turnout of 73.41% of all ATOM tokens, with the vote remaining tight until the very end. Ultimately, 47.51% of coins were pledged in favor, 37.39% voted “NoWithVeto,” 13.27% abstained, and 1.82% simply voted no. 

While most tokens were indeed pledged in favor, Cosmos Hub’s governance mechanics ensure that a proposal cannot pass if more than 33.4% of voters opt for “NoWithVeto”—a system that prevents the Hub from falling prey to 51% attacks. “NoWithVeto” is, therefore, a strong signal community members use to communicate their belief that a proposal is actively harmful to Cosmos Hub’s interests.

Buchman acknowledged the strong reaction against the proposal in a tweet storm: “To those that voted NoWithVeto, I respect your decision and hear you loud and clear: the proposal in its current form is untenable. Even if it passed, amendments would be necessary!”

Why Was It Rejected?

ATOM 2.0 was an ambitious and exciting proposal, and that may have been part of its problem.

The 26-page whitepaper didn’t limit itself to modifying one or two aspects of the ATOM token, as the community initially expected, but set out to fundamentally transform the way the Cosmos Hub functioned by introducing three new major tools in addition to revamping tokenomics. The Interchain Scheduler, for example, aims to be an on-chain MEV marketplace, while the Interchain Allocator’s role would be to enable mutual stakeholding across different IBC chains; these are two very different, very complex topics, and ATOM stakers may have ended up voting against the proposal because of one of the tools despite liking the other one.

Another vivid issue in the ATOM 2.0 proposal had to do with the revamped tokenomics. The whitepaper argued in favor of greatly increasing the issuance of ATOM tokens for a short while in order to subsidize the Hub, and then decreasing emissions over a period of 36 months. Critics argued that the change in monetary policy was unwarranted and that details were lacking with regard to how the Hub would use the accumulated ATOM. Others were unconvinced that ATOM emissions could be successfully replaced by other sources of revenue by the time emissions waned. 

Most likely, the various components of the ATOM 2.0 whitepaper will end up being resubmitted to the community for voting as their own individual projects, just like how a detailed proposal for Interchain Security—another ambitious initiative to position Cosmos Hub as a central component of the Cosmos ecosystem—was passed in March. 

Disclaimer: At the time of writing, the author of this piece owned ATOM, BTC, ETH, and several other cryptocurrencies.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.





Source link

Tags: ATOMCosmoshubsProposalrejected
ShareTweetShareShare
Previous Post

Spurs: Paratici must move for Min-jae

Next Post

Taiwan Semi, Paramount Global and more

Related Posts

Market Skilled Tasks ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Right here’s How

Market Skilled Tasks ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Right here’s How

by Index Investing News
May 24, 2025
0

Opeyemi is a proficient author and fanatic within the thrilling and distinctive cryptocurrency realm. Whereas the digital asset business was...

Chinese language Automotive Agency Reveals Twin-Observe Plan to Purchase 1,000 Bitcoins Over Subsequent Yr

Chinese language Automotive Agency Reveals Twin-Observe Plan to Purchase 1,000 Bitcoins Over Subsequent Yr

by Index Investing News
May 24, 2025
0

Jiuzi Holdings, Inc. plans to amass 1,000 bitcoins over the approaching 12 months by means of a mix of recent...

Extra crypto companies to return?

Extra crypto companies to return?

by Index Investing News
May 24, 2025
0

This previous week, Coinbase joined the S&P 500, one of many world’s most elite inventory indexes — a triumph for...

Bitcoin Value Enters fifth Wave After Decline, Eyes Stronger Breakout Rally

Bitcoin Value Enters fifth Wave After Decline, Eyes Stronger Breakout Rally

by Index Investing News
May 24, 2025
0

Trusted Editorial content material, reviewed by main trade consultants and seasoned editors. Advert Disclosure Crypto analyst CrediBULL Crypto has commented...

Elon Musk’s Tesla Nonetheless Bullish On Bitcoin, Holds .25B BTC

Elon Musk’s Tesla Nonetheless Bullish On Bitcoin, Holds $1.25B BTC

by Index Investing News
May 23, 2025
0

Blockchain analytics platform Arkham Intelligence has revealed that Tesla Inc.’s Bitcoin (BTC) holdings are actually value round $1.25 billion. With...

Next Post
Taiwan Semi, Paramount Global and more

Taiwan Semi, Paramount Global and more

American Public Education Might Take Longer To Recover (NASDAQ:APEI)

American Public Education Might Take Longer To Recover (NASDAQ:APEI)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Russia Blackmails Europe, Once more – WSJ

Russia Blackmails Europe, Once more – WSJ

August 23, 2022
Analyst Forecasts Chainlink (LINK) To Fall Below  Following Massive Price Surge

Analyst Forecasts Chainlink (LINK) To Fall Below $10 Following Massive Price Surge

October 28, 2023
Good news: Australia extends post-study work rights for international students 

Good news: Australia extends post-study work rights for international students 

September 12, 2022
LVMH flags strong Chinese rebound, U.S. slowdown By Reuters

LVMH flags strong Chinese rebound, U.S. slowdown By Reuters

April 12, 2023
Israeli settlers commit arson and vandalism in spate of West Financial institution assaults | Israel-Palestine battle Information

Israeli settlers commit arson and vandalism in spate of West Financial institution assaults | Israel-Palestine battle Information

January 10, 2025
Donald Trump calls on Jordan and Egypt to simply accept Palestinian refugees to ‘clean-out’ Gaza

Donald Trump calls on Jordan and Egypt to simply accept Palestinian refugees to ‘clean-out’ Gaza

January 26, 2025
Sam Bankman-Fried found guilty of defrauding FTX customers, investors, and lenders

Sam Bankman-Fried found guilty of defrauding FTX customers, investors, and lenders

November 3, 2023
The Political Drawback of Tariffs

The Political Drawback of Tariffs

February 27, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In