#Cosmos2.0 modified the ATOM pledge, using liquidity pledged ATOM or ATOM-supported assets (such as mortgaged stablecoins) to enter the AMM pool, expanding the liquidity pledged ATOM market, attracting users to pledge ATOM, and reducing the liquidity of ATOM in the market

From the demand side: demand is increasing

(1) Fee Settlement: Products using Cosmos Hub development tools need to use ATOM as the fee settlement token when trading (if some consumer chains do not issue tokens, ATOM will be used for payment)

(2) MEV (miner mineable value) In terms of income, the inter-chain scheduler is a cross-chain block space market that can generate income from cross-chain MEV. These revenues are used by the cross-chain allocator on new Cosmos chains, promoting cross-chain collaboration and thereby expanding the scheduler’s potential market. This means that Cosmos Hub will generate revenue from cross-chain activities by creating a market for block space and charging matching fees.

(3) Community governance: Treasury revenue from community governance increases demand for ATOM