What's Interesting Today:
The Cosmos Hub is in the process of voting on a new feature, known as the Liquid Staking Module (LSM), which is designed to enhance the liquidity of the network and permit the instant utilization of 25% of the staked ATOM tokens for decentralized finance (DeFi) operations. The vote began on August 25 and will conclude on September 8. While the proposal has been overwhelmingly supported, it has yet to achieve the required quorum. If approved, the LSM would eliminate the existing 21-day waiting period for unlocking a segment of staked ATOM tokens, making them immediately available for liquid staking. Additionally, the LSM will incorporate extra safety mechanisms such as "validator bonds" to lessen the potential for validator misconduct. The overall goal of this update is to substantially simplify and lower the costs associated with liquid staking within the Cosmos ecosystem.
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Sandeep Nailwal, the founder of Polygon Labs, has announced a significant upgrade that will transform Polygon's native token, MATIC, into a third-generation token called POL. The change is more than just a rebranding; POL will offer the benefits of multi-chain staking without traditional restaking risks. As part of Polygon 2.0, the platform will evolve from a single chain to an ecosystem of interoperable Layer 2 solutions (L2s), allowing for seamless liquidity sharing. The new POL token will be staked in a designated "staking hub," allowing for diverse roles across multiple chains without requiring additional staked capital. A simple "1/2 click upgrade" will enable a smooth transition from staked MATIC to staked POL. Despite a slight market dip, Polygon's market cap remains strong at over $5.3 billion, signaling continued investor trust.