🔥 Osmosis Burns 7% of Supply as Cosmos Fights the "Dead Chain" Label
🔥 Osmosis is about to destroy 55.5M $OSMO , 7% of its whole supply.
🗳 Prop 1057 sends the coins from the community pool (shared treasury) to a null address (a wallet nobody controls). Before, it was a soft burn. Now it is a hard burn (gone forever). The pool drops from 119M to 64M, and total burned reaches about 100M.
⏰ Vote ends Nov 4, 7:26 PM PKT. Right now 86.2% yes, 13.8% abstain, turnout 55%.
💰 The coins are worth about $2.5M at $0.0457. They were not circulating, so this is cleanup and trust, not a price rocket.
📉 $OSMO peaked at $11.25 in Mar 2022 and is down 99.6%. Osmosis TVL (money locked in the app) fell from $1.83B to $10M. $ATOM peaked at $43.84 in Sep 2021 and is now $1.40, down 96.8%.
👻 Why "ghost chain"? Noble, the USDC (dollar coin) hub, is moving to its own chain, and Circle ends USDC there on Jan 12, 2027. Stride is shutting down and Sei is going EVM only. There were also 3 security hits between Aug and Sep, and $ATOM prints 10% new coins a year.
❓ Is Cosmos dead or just rebuilding? 👇
#Osmosis #Cosmos #CryptoNews
🔥 Osmosis is about to destroy 55.5M $OSMO , 7% of its whole supply.
🗳 Prop 1057 sends the coins from the community pool (shared treasury) to a null address (a wallet nobody controls). Before, it was a soft burn. Now it is a hard burn (gone forever). The pool drops from 119M to 64M, and total burned reaches about 100M.
⏰ Vote ends Nov 4, 7:26 PM PKT. Right now 86.2% yes, 13.8% abstain, turnout 55%.
💰 The coins are worth about $2.5M at $0.0457. They were not circulating, so this is cleanup and trust, not a price rocket.
📉 $OSMO peaked at $11.25 in Mar 2022 and is down 99.6%. Osmosis TVL (money locked in the app) fell from $1.83B to $10M. $ATOM peaked at $43.84 in Sep 2021 and is now $1.40, down 96.8%.
👻 Why "ghost chain"? Noble, the USDC (dollar coin) hub, is moving to its own chain, and Circle ends USDC there on Jan 12, 2027. Stride is shutting down and Sei is going EVM only. There were also 3 security hits between Aug and Sep, and $ATOM prints 10% new coins a year.
❓ Is Cosmos dead or just rebuilding? 👇
#Osmosis #Cosmos #CryptoNews
