Osmosis proposal to migrate to Cosmos Hub fails to pass voting
Foresight News reported that Cosmos ecosystem DEX Osmosis tweeted that its proposal to "migrate to Cosmos Hub" was not approved in the vote. Moving forward, Osmosis will continue to operate as an independent and profitable chain. In the coming weeks, the team will begin work on the next phase for Osmosis, prioritizing user security and business continuity.
According to previous Foresight News, Osmosis tweeted that it has updated the Cosmos Hub proposal based on feedback from validators and the community. The biggest adjustment 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 conversion. The total purchase amount will remain limited to less than 2.5% of the total ATOM supply.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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