On August 31, the Cosmos community is voting on community proposal No. 821, planning to upgrade the network to v12. The focus of this upgrade is to enable the Liquid Staking Module (LSM) module to replace the existing staking, distribution and penalty modules, aiming to improve network liquidity.
Once the upgrade is successful, millions of dollars in ATOM tokens will be unlocked to support DeFi activities on various chains in the Cosmos ecosystem. Voting will last until September 8. So far, 99.8% of participants have approved this new upgrade, but a quorum has not yet been reached. The market is confident in this upgrade, which is expected to bring more development opportunities to the Cosmos ecosystem.
Once the upgrade is successful, millions of dollars in ATOM tokens will be unlocked to support DeFi activities on various chains in the Cosmos ecosystem. Voting will last until September 8. So far, 99.8% of participants have approved this new upgrade, but a quorum has not yet been reached. The market is confident in this upgrade, which is expected to bring more development opportunities to the Cosmos ecosystem.