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Cosmos Hub postpones vote date following white paper revision

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An updated version of the Cosmos Hub white paper went live on October 29, with the community now set to vote on the document. According to the project, concerns related to the issuance model of Cosmos (ATOM) were addressed in the new revision, among other issues. 

The paper’s first version was published in September, proposing a redesigned Hub focused on strengthening interoperability and security, along with key changes to its token, with a new issuance model aiming to strike a better balance between ecosystem growth and interchain adoption, “while still preserving the security afforded by the original regime,” according to the white paper.

Community members raised concerns about the token’s newly proposed issuance model by Sam Hart, strategy lead of the Cosmos Hub, claiming that minting a significant amount of ATOM would lead to lower inflation levels. The transition phase would see 10,000,000 ATOM issued in the first month, decreasing over time until it reaches the steady state phase 36 months later. The updated version proposes a 4,000,000 ATOM mint into the community pool instead.

Cosmos Hub proposal draft. Source: Cosmos Hub Forum

According to Hart, the document “marks the transition to the next phase of the Cosmos Hub as an infrastructure service platform, and a renewed role for ATOM as preferred collateral within the Cosmos Network.”

The white paper also described two functionalities, the Interchain Scheduler and Interchain Allocator, along with describing a new optimized issuance regime for liquid staking.

As per the document, the proposed plan would be managed by the Cosmos Councils, formed by domain-specialized entities, which would be responsible for carrying out development and operations.

In the Cosmos ecosystem, blockchains are designed to scale and interoperate with each other. Cosmos Hub was the first blockchain built on Cosmos, which initially acted as an intermediary between other interconnected blockchains.