7/ L1/L2 (Cont.)
The @cosmoshub governance body approved a proposal to cap the #ATOM token's inflation rate at 10%, reducing it from the previous rate of around 14%. This adjustment is expected to lower Atom's annualized staking yield from approximately 19% to around 13.4%.
Chatted w @APompliano on sentiment and consumer spending - โIn some weird way, culturally we've taught people to be consumers. And we have to understand that you can't unwind culture from someone just because the economy is tough.โ
We also discussed -
-Crypto in the wake of Binance drama
-The merits of efficient market hypothesis
-Americaโs spending problem
-Passion crisis and the role of religion/patriotism
-Why โVCs are full of sh*tโ