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Osmosis updates the Cosmos Hub proposal: cancel the new issuance of ATOM and instead use DEX protocol revenues to repurchase ATOM in the open market
ME News message. On April 6 (UTC+8), the 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 on the open market using Osmosis DEX protocol revenue, for OSMO/ATOM conversions. The total acquisition scale is still capped at within 2.5% of the total ATOM supply. The proposal is currently entering the Cosmos Hub governance discussion stage.
Foresight News previously reported that Osmosis stated it has put forward a major proposal to the Cosmos ecosystem, which will directly bring Osmosis into the Cosmos Hub. If governance approval is obtained on both chains, Osmosis DEX will be natively migrated to the Hub, thereby unifying liquidity, governance, and security onto a single chain. (Source: Foresight News)