$ATOM's tokenomics research has finished a phase; the proposed changes still face governance.

The October 29 Cosmos Quarterly says Phase 2 is complete. A process post is planned around November 20, with individual review steps beginning in early December. Each change gets its own proposal, discussion and eventual onchain vote.

That's useful progress to track without assuming a new issuance rule is already active. The report explicitly allows proposals and timelines to change through community review.