Key Takeaways
- ATOM is still up 152% since June lows, no subject broader market weakness.
- The whitepaper for ATOM 2.0 is scheduled for release on the first day of Cosmoverse, on September 26.
- Cosmos community members assume ATOM 2.0 will revamp ATOM’s inflationary tokenomics.
The particulars for ATOM 2.0 will most certainly be revealed in four days in the course of Cosmoverse. Community members inquire of the token’s inflationary monetary machine to be significantly revised.
ATOM 2.0 on the Horizon
Gigantic things are coming for the Cosmos ecosystem.
ATOM is at this time trading at $14.7, up 10.3% on the day. While most main cryptocurrencies, including Bitcoin, are revisiting their summer lows, the Cosmos token is still up 152% since June 19.
The coin’s energy in the face of the broader downturn may maybe presumably presumably be attributable to rumors surrounding ATOM 2.0, the specifics of which is in a position to be publicized in the course of an upcoming Cosmos conference. Cosmoverse will most certainly be held in Medellín, Colombia, from September 26 to 28 and can maintain to still characteristic Cosmos co-founder Ethan Buchman and Osmosis labs co-founder Sunny Aggarwal as audio system, among many others.
Miniature print spherical ATOM 2.0 will most certainly be made public on the first day of the conference, with Buchman scheduled to unveil the token’s whitepaper at 14: 30 UTC and Sommelier co-founder Zaki Manian to lengthen on the coin’s revamped tokenomics at 15: 40 UTC in a discuss entitled “$1K ATOM LFG.” A panel devoted to ATOM 2.0 can even be held on the third day at 21: 30 pm UTC.
Tokenomics
Cosmos is a decentralized network of self reliant blockchains, with ATOM as its main token. Its Inter-Blockchain Communication protocol (IBC) enables customers to seamlessly hop from one blockchain to yet some other. At the time of writing, there are 42 assorted IBC-connected blockchains, including the Cosmos Hub, decentralized alternate Osmos, neat-contract platform Juno, EVM-acceptable chain Evmos, and privateness blockchain Secret Network. In accordance to the Cosmos web discipline, the network’s cumulative market capitalization at this time stands at $9.72 billion, inserting it handiest a piece under Solana’s $11.4 billion.
The ATOM token is earlier to stable the Cosmos Hub. No longer to be pressured with the broader Cosmos ecosystem, the Cosmos Hub is a blockchain particularly designed to join the total replacement blockchains in the network. The Keplr dashboard signifies ATOM staking rewards at this time take a seat between 15.19% and 18.99%, reckoning on the validator one delegates to; the yield is constituted of ATOM emissions and Cosmos Hub transaction fees.
Nonetheless, ATOM has obtained criticism for its inflationary tokenomics. The coin’s inflation rate is conditional on ATOM staking percentages. In accordance to Messari, if larger than two-thirds of the provision is staked, the inflation rate progressively decreases except it hits 7%; lower than two-thirds, and ATOM can reach up to 20% annual inflation. By comparison, Ethereum’s inflation rate is at this time at 0.19%; even forward of the blockchain’s upgrade to Proof-of-Stake, its token supply elevated by about 4.62% yearly.
Prominent Cosmos community members maintain speculated that ATOM 2.0 will repair the coin’s inflation rate by introducing a burning mechanism or a laborious cap to the coin’s entire supply. One other optimistic style for ATOM is the forthcoming birth of Interchain Security, which is in a position to do the Cosmos Hub accountable of securing the total IBC network, no longer factual the Hub itself. Stakers can even initiate up receiving rewards from other IBC blockchains, reckoning on the validator location they chose. Interchain Security is determined to begin in January 2023.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, ATOM, OSMO, JUNO, and loads of different cryptocurrencies.
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