Cosmos Canto’s Proposals To Reduce Token Issuance And Liquidity Rewards Accepted By Community

02/23/2023 07:24 • Metaverse & Beyond • 80 views

On February 23, according to the governance page, recently, the Cosmos ecological public chain Canto’s Proposal No. 48 on reducing the additional issuance of 30% CANTO tokens and the Proposal No. 49 on reducing the liquidity mining reward were voted by 99.99%.

Canto’s two proposals to reduce the additional issuance of CANTO tokens by 30% and the liquidity mining incentive have been voted through

Interpretation of the news:

The Cosmos ecological public chain Canto has recently had its Proposals No. 48 and 49 accepted by 99.99% of the community. The proposals involved a reduction in additional issuance of 30% CANTO tokens and the liquidity mining reward. This decision represents a significant turning point for the development of the Cosmos ecosystem and the community that supports it.

The reduction of token issuance is a positive step towards stabilizing the token’s price in the market by controlling the supply. Many cryptocurrency projects that overprint their tokens tend to devalue them and sway the confidence of investors, leading to a drop in price. Canto’s willingness to control additional token issuance shows the project’s prudence and the team’s long-term vision. It also makes the token more attractive to investors.

On the other hand, reducing the liquidity mining reward puts the project’s sustainability above profit-making for its members. While liquidity mining serves to incentivize members to provide liquidity to the platform, the team’s decision demonstrates its commitment to ensuring that the practice does not become detrimental to its ecosystem’s overall health. The team’s ability to precisely balance incentives and long-term viability is essential to maintaining a robust blockchain ecosystem.

The overwhelming support of the community’s decision to adopt the proposals proves that Canto’s governance system is practical and representative of the community’s desires. The Canto ecosystem has cultivated a sense of ownership and responsibility in its community by enabling them to have an active say in its development. By having the ability to vote on proposals, the platform ensures that its members’ needs are prioritized while also giving them an opportunity to exercise their democratic rights.

In conclusion, Canto’s Proposals No. 48 and 49 put sustainability and the community’s desires first. This community-driven approach sets a precedent for other cryptocurrency projects looking to foster a holistic and responsible ecosystem. Furthermore, with the projects’ recent growth, it is evident that the community’s involvement is crucial to the success of the project – a call to other projects to prioritize community involvement in their governance strategy.

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