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Osmosis updates Cosmos Hub proposal: cancel the addition of minting ATOM, and instead use DEX protocol revenue to buy back on 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 in accordance with validator and community feedback. The biggest change is that no new ATOM will be minted; the required ATOM will be gradually purchased on the open market using revenue from the Osmosis DEX protocol for OSMO/ATOM conversions. The total acquisition scale is still 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 stated it has submitted a major proposal to the Cosmos ecosystem, which will 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)