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Osmosis updates Cosmos Hub proposal: cancel the addition of new ATOM minting, replaced with using DEX protocol revenue to buy back on the open market
ME News, April 6 (UTC+8): Cosmos ecosystem DEX Osmosis posted on Twitter that it has updated its Cosmos Hub proposal based on validator and community feedback. The biggest change is that it will no longer mint new ATOM; instead, the required ATOM will be gradually purchased in the open market using revenue from the Osmosis DEX protocol for OSMO/ATOM conversions. The total acquisition size remains limited to within <2.5% of the total ATOM supply. The proposal is currently in the Cosmos Hub governance discussion stage.
Foresight News previously reported that Osmosis said it has put forward a major proposal to the Cosmos ecosystem, which would directly bring Osmosis into the Cosmos Hub. If governance approval is obtained for both chains, the Osmosis DEX will be natively migrated to the Hub, thereby unifying liquidity, governance, and security onto a single chain. (Source: Foresight News)