Osmosis to End Voting on Proposal 1053 on October 25th
Osmosis voting on Proposal 1053 will end on October 25th. The proposal would reduce daily OSMO issuance from 91,324 tokens to zero, fund staking rewards entirely from protocol revenue and make ongoing burns reduce total supply.Refer to the official tweet by OSMO:It's onchain: end OSMO inflation.Prop 1053 takes new OSMO minted per day from 91,324 to zero. Staking rewards come entirely from protocol revenue, and every OSMO burned cuts supply. At the current burn rate, that's ~2% of supply a year.Voting ends October 25.… OSMO InfoOsmosis is a decentralized exchange (DEX) that operates on the Cosmos network. Osmosis utilizes Inter-Blockchain Communication (IBC) technology, which enables cross-chain asset transfers. This allows users to transfer assets between different blockchains within the Cosmos ecosystem without leaving a single platform.One of the key features of Osmosis is its use of an Automated Market Maker (AMM) model, which allows users to provide liquidity to pools and earn fees. Users can also stake their tokens and receive rewards.The OSMO token is a governance token that grants staked token holders the power to shape the future of the protocol. It allows them to make decisions on various aspects, such as voting on protocol upgrades, determining the allocation of liquidity mining rewards for bonded liquidity gauges, and setting the base network swap fee.