Cosmos (ATOM) Hub, an integral blockchain within the Cosmos Network, announced the successful completion of its v12 upgrade. The update introduces the Liquid Staking Module (LSM) that allows ATOM token holders to bypass the previously mandated 21-day unbonding period for unstaking their assets.
As per the official announcement on 13th September at 9:30 pm, the new LSM facilitates users to “directly liquid-stake their already staked #ATOM without waiting for the unbonding period.” This innovation aims to enhance the dynamics of the ATOM Economic Zone by enabling the staked ATOM to integrate seamlessly into the Cosmos decentralized finance (DeFi) ecosystem without undermining the staking returns.
However, it’s essential to note that there are governance measures in place to ensure the security of this feature. Cosmos Hub tweeted a reminder emphasizing an initial limit where “the total amount of ATOM that can be liquid-staked is set at 25% of all staked ATOM.” This cap is flexible and subject to future changes through governance processes. In addition to this, for heightened security, the LSM requires validators keen on receiving delegations from liquid staking providers to self-bond a specific quantum of ATOM.
On another note, just 8 weeks following their initial launch, the team at NumiaData unveiled an enhanced dashboard for Cosmos Hub. This updated version, termed as “Data Lenses v2,” was spotlighted on 14th September at 2:50 am. It showcases an array of features including monitoring “On-chain Transaction Flows,” “Liquid Staked ATOM,” and “AEZ APR & Revenue Flow.” The dashboard, which can be accessed at http://datalenses.zone/chain/cosmos, is a product of user feedback and is designed to provide better user experience with improved UI/UX elements.
The shift from a 21-day unbonding period was notable as ATOM, the native token of the Cosmos network, required its holders to undergo a locking period of three weeks to transfer their funds post-unstaking. The recent v12 upgrade, named “Gaia 12,” became operational at 1:00 pm UTC on 12th September, recorded at block height 16985500.
This development is a testament to the evolving blockchain space and how the integration of user feedback can result in advancements that streamline processes while safeguarding user interests.
Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.
Image source: Shutterstock