# Hub Weekly Update #24: November 12, 2026 **URL:** \ **Category:** Hub Unit\ **Created:** [November 12, 2026, 4:55pm UTC](https://forum.cosmos.network/t/hub-weekly-update-24-november-12-2026/17581 "2026-11-12T16:55:33Z")\ **Posts on this page:** 1\ **Page:** 1
**Author:** ![qxnico](https://yyz1.discourse-cdn.com/flex031/user_avatar/forum.cosmos.network/qxnico/32/7846_2.png) [@qxnico](https://forum.cosmos.network/u/qxnico)\ **Post date:** [November 12, 2026, 4:55pm UTC](https://forum.cosmos.network/t/hub-weekly-update-24-november-12-2026/17581/1 "2026-11-12T16:55:33Z")
![hub-weekly-24-landscape-superseded-validatier](https://canada1.discourse-cdn.com/flex031/uploads/cosmos1/original/2X/5/53984bff253c2fa9b5139facf0517eb01caa4b87.jpeg) This is the twenty-fourth Hub Weekly Thursday recap, straight from the Hub Unit team, per the cadence we committed to in the [From Chaos to Stability to Growth](https://forum.cosmos.network/t/from-chaos-to-stability-to-growth-the-plan-to-build-the-cosmos-hub-roadmap-in-public/) post. Every Thursday, we will call out significant Cosmos Hub updates on the forum, with a short companion thread on X, recapping announcements, live events like validator or community calls, and ecosystem updates! For more info, see the linked posts, and contact me or [@RoboMcGobo](https://forum.cosmos.network/u/robomcgobo) on Telegram to submit news for the weekly. This week Robo is out, so I am covering. **This week: IBC joins LF Decentralized Trust, the November validator call, the latest on USDC, Proposal 1061, and Node101’s Validatier dashboard.** - **[IBC is now an LF Decentralized Trust project](https://forum.cosmos.network/t/ibc-joins-the-linux-foundation-decentralized-trust-what-it-means-for-chains-builders-and-the-hub/17562)**: what changes, what does not, and what it means for the Hub and ATOM - **[Yesterday’s validator call](https://forum.cosmos.network/t/cosmos-hub-validator-call-recap-nov-11-2026/17577)**: Prop 1060 closed out, Cosmos KMS and the remote signer survey, and commission now checked at every block for the delegation program - **[USDC migration](https://docs.skip.build/go/app/usdc-n-manual-migration)**: 84.56M USDC is still on Noble as of Wednesday, with dYdX holding most of it - **[Proposal 1061](https://www.mintscan.io/cosmos/proposals/1061)**: the Gaia v29.1.0 upgrade is on chain, voting ends November 17 - **[Validatier](https://validatier.node101.io/)**: Node101’s dashboard of validator reward and commission flows on the Hub The team continues to work on the **Tokenomics update for the last week of November** , as promised, to begin the public review and proposal process through then and the end of the year. * * * ## **IBC Joins LF Decentralized Trust: Nothing to Migrate, ATOM Stakers Still Govern the Hub, and Cosmos Labs Stays a Maintainer** ![image](https://canada1.discourse-cdn.com/flex031/uploads/cosmos1/original/2X/c/c33840ac3b3a71fa9aa3794388637cf33e66a887.png) On Monday, November 9, Cosmos and the Interchain Foundation announced that IBC is being contributed to [LF Decentralized Trust](https://www.lfdecentralizedtrust.org/) (LFDT), the Linux Foundation’s home for ledger and decentralized technologies. The [announcement on cosmos.network](https://cosmos.network/blog/ibc-joining-lf-decentralized-trust) carries the FAQ; the [press release](https://www.prnewswire.com/news-releases/cosmos-contributes-ibc-to-linux-foundation-decentralized-trust-to-advance-blockchain-interoperability-302932867.html) has the details, and [@cosmos posted the announcement on X](https://x.com/cosmos/status/2119802088737615897). For the Hub-specific read, start with our forum post: **[IBC joins the Linux Foundation Decentralized Trust: what it means for chains, builders and the Hub](https://forum.cosmos.network/t/ibc-joins-the-linux-foundation-decentralized-trust-what-it-means-for-chains-builders-and-the-hub/17562)**. Questions belong on that thread! IBC has been in production since April 2021 and has processed more than $50B in transaction volume across 200+ networks, with more than 500 individual contributors over that time. The move follows the same path as Hyperledger Besu, an LFDT project since 2019, and x402, which moved to the Linux Foundation this year: an open standard moves to a neutral foundation so that institutions can adopt it without depending on a single company. ### **What changes under LFDT governance** - IBC becomes a project of LF Decentralized Trust, and the Linux Foundation holds the IBC trademark on behalf of the project. - The code stays open source under Apache 2.0, and the project charter keeps the protocol layer free of fees or monetization. - Technical decisions sit with the maintainers and a Technical Steering Committee, in public, under a public technical charter. - The maintainers are Cosmos Labs, Datachain, and OpenZeppelin. For the first two-year term, Cosmos Labs engineers chair the committee. - Anyone can contribute, and contributors can become committers and maintainers based on their work. - Organizations adopting IBC get a formal voice in the roadmap through a product and use-case practice. The Interchain Foundation, through Cosmos Labs, remains the main contributor to and funder of IBC development, and the IBC roadmap continues. This does open up IBC to a massive support network, to accelerate its adoption in and out of Cosmos, as companies and foundations from all industries rally to support it as a standard. ### **What it means for the Hub and ATOM** - **There is nothing to migrate.** Existing IBC connections keep running exactly as they do today, on the Hub and on every chain connected to it. - **ATOM stakers continue to govern the Hub.** The change is to who governs the IBC protocol, not to who governs the Hub. - **Eureka keeps running on the Hub** , and nothing in the change restricts the Hub, Eureka or adjacent products from building and commercializing on IBC. Integrating new IBC features stays unrestricted. - **IBC remains free to use for builders.** The business around IBC lies in services: relaying, routing, attestation, light client infrastructure, integrations and applications. Supporter posts went out that day from [OpenZeppelin](https://x.com/OpenZeppelin/status/2119826077367357587), [Figure](https://x.com/Figure/status/2119816250863829257), the [Cardano Foundation](https://x.com/Cardano_CF/status/2119814148011724903), [Agoric](https://x.com/agoric/status/2119829981018706060), [Zenith](https://x.com/ZenithFdn/status/2119810026281881864), [Range](https://x.com/range_org/status/2119823579592405371), [Espresso](https://x.com/EspressoSys/status/2119835489545105721), [Regen Network](https://x.com/regen_network/status/2119822347096277414), [Zeeve](https://x.com/0xZeeve/status/2119805373557494258), and [LFDT itself](https://x.com/lfdecentralized/status/2119810748243394942), and [the Hub’s statement](https://x.com/cosmoshub/status/2119817122218205416) is on X. Developers who want to contribute can start at [ibcprotocol.dev](https://ibcprotocol.dev/). * * * ## **Validator Call Recap: Prop 1060 Closed Out, a Cosmos KMS Deep Dive, and Commission Now Checked at Every Block of the Quarter** The November validator call ran yesterday, hosted by Dan. The full recap is on the forum: [Cosmos Hub Validator Call: Recap - Nov 11, 2026](https://forum.cosmos.network/t/cosmos-hub-validator-call-recap-nov-11-2026/17577), and the [slides](https://docs.google.com/presentation/d/1sEPqJl1J4J0uuJkxO1I1bw6IHsYzSwgCPaW7E0qMWoQ/edit?usp=sharing) are available as a community copy. **Prop 1060 is closed out.** The proposal [passed on November 3](https://www.mintscan.io/cosmos/proposals/1060). Because the community pool has no built-in swap, the full 566,067.06 USDC.n balance went to a six-member DAODAO multisig of community members and validators, was swapped in two tranches through [publicly posted DAODAO proposals](https://forum.cosmos.network/t/migrate-community-pool-usdc-n-to-usdc-inj-via-a-community-multisig/17492/10), and was [returned in full as USDC.inj on November 4](https://forum.cosmos.network/t/migrate-community-pool-usdc-n-to-usdc-inj-via-a-community-multisig/17492/12). Questions on the wider USDC migration go to Dan, Neil, or Syed. **Prop 1061 is on chain.** The Gaia v29.1.0 upgrade is up for vote until November 17, with the upgrade at block 33,935,300 around November 18. More in the section below. **Remote signers: what the survey says so far.** The remote signer survey went out about a week before the call. Three themes came back: high availability (keeping the validator signing through a node or signer failure), key storage (OpenBao, HashiCorp Vault, or key splitting as Horcrux does), and production track record, with several validators wanting Cosmos KMS proven in production first. The [survey](https://docs.google.com/forms/d/e/1FAIpQLSdJybH3DNPuBf767slJd85ZnROrv31RUMP6wtMloPWr3emHtQ/viewform) is still open, takes about two minutes, and anonymous answers are fine. **Cosmos KMS at a glance.** [Cosmos KMS](https://github.com/cosmos/kms) is a Go-based remote signer built on CometBFT’s own libraries, maintained and supported by Cosmos Labs; v0.1.0 shipped in July 2026. It has built-in double-sign protection, dials out to validator nodes so the signer host needs no open inbound port, keeps keys on a PKCS#11 HSM or in AWS KMS, and one signer can serve several chains and validators. Where it stands on the three themes above: - **High availability:** several nodes can each run a privval listener, and the signer keeps signing through the others if one node stops. The signer and the key run as one process, so if that host fails, signing stops until it recovers. This is deliberate: a single sign state is what prevents signing conflicting messages at the same height, round, and step. Run one signer per key. Double signing on the Hub means a 5 percent slash and a permanent tombstone. - **Key backends:** PKCS#11 HSMs and AWS KMS are supported, plus a file backend for testing. OpenBao and Vault are not supported yet. OpenBao cannot serve keys over PKCS#11, and Vault’s PKCS#11 provider is Enterprise-only and lacks Ed25519. There is an [open OpenBao request](https://github.com/openbao/openbao/issues/1984) labeled help wanted; with Ed25519 support, it should work through the existing backend. - **MPC and threshold signing:** not planned. Cosmos KMS is built around HSMs and cloud KMS, which some institutions require, and it already supports post-quantum ML-DSA-65 keys, where threshold signing is still mostly research. The recommended path is to try it on the testnet with two nodes, or on a Docker devnet on low-end hardware, and shut one node down to confirm failover. Docs are at [docs.cosmos.network/sdk/latest/kms](https://docs.cosmos.network/sdk/latest/kms), and feedback goes to [issues on cosmos/kms](https://github.com/cosmos/kms/issues). ### **Delegation program: commission is now checked across the whole quarter.** From the December 31 snapshot on, commission is checked at every block of the quarter, not only at the snapshot block. For the Q4 round, commission must be at or below 10 percent at every block from October 1 through December 31, 2026 (UTC); any breach, even for a day, disqualifies the validator for that round. The other [default delegation criteria](https://forum.cosmos.network/t/ecosystem-growth-delegation-rfps/17329) are unchanged: governance participation above 80 percent over the 12 months before the snapshot, uptime above 95 percent over the 90 days before it, and at least 6 testnet points across the quarter. The [Sponsored Endpoint Provider RFP](https://forum.cosmos.network/t/targeted-rfp-cosmos-hub-sponsored-endpoint-provider/17414) closed October 28 and is under review. **How you can help:** - **Validators: vote on Proposal 1061** and prepare the v29.1.0 binary before November 18. - **Fill in the [remote signer survey](https://docs.google.com/forms/d/e/1FAIpQLSdJybH3DNPuBf767slJd85ZnROrv31RUMP6wtMloPWr3emHtQ/viewform)**, especially if you run or maintain Horcrux or TMKMS. - **Try Cosmos KMS on the testnet** and report what breaks on the [cosmos/kms](https://github.com/cosmos/kms/issues) repository. The next validator call is Wednesday, December 9, at 9:00 AM ET. Active-set validators who are not yet in the validator channel can message @totalspud or @robomcgobo on Telegram for an invite. * * * ## **USDC Migration: 84.56M USDC.n Still on Noble as of Wednesday, November 11, with dYdX Holding about 82% of it** ![image](https://canada1.discourse-cdn.com/flex031/uploads/cosmos1/original/2X/9/981daf6923a8dd3da696632977e45893c83f90ab.jpeg) On-chain supply as of Wednesday, November 11: - **USDC.inj on Injective: 11.70M** - **USDC.n still on Noble: 84.56M** , of which dYdX holds about 69.3M, or 82 percent of what remains - Outside dYdX, about 6.8M sits on Osmosis, and the Hub’s own balance is down to 0.42M after Prop 1060 moved the community pool’s USDC.n to USDC.inj dYdX is working through its own migration on its own timeline, which is why the Noble total moves slowly week to week. For everyone else, the balances left are small and spread across chains and wallets, and the tooling to move them is live today. The [Hub’s reminder from Tuesday](https://x.com/cosmoshub/status/2120143642572812685) has the short version. **Circle’s dates for Noble USDC:** - **January 12, 2027:** Circle pauses the Noble USDC contract and takes a snapshot of balances. - **January 13, 2027:** Noble USDC is no longer accessible through Circle Mint or CCTP. From that point, redemption is manual. **Two ways to migrate today:** - **Skip:Go:** the [Noble to Injective route](https://go.skip.build/?src_chain=noble-1&src_asset=uusdc&dest_chain=injective-1&dest_asset=erc20:0xa00C59fF5a080D2b954d0c75e46E22a0c371235a) moves USDC.n to USDC.inj in one flow. The [migration guide](https://docs.skip.build/go/app/usdc-n-manual-migration) walks through it step by step, including the manual path. - **Osmosis transmuter:** [pool 3497](https://app.osmosis.zone/pool/3497) swaps USDC.n for USDC.inj 1:1 with no fee. The one-click migration inside Skip:Go is still targeted for mid-November, per the [Quarterly](https://forum.cosmos.network/t/cosmos-quarterly-2-q3-26-hardening-interop-and-the-hub-tokenomics-roadmap/17517). How you can help: - **Holding USDC.n in a wallet?** Migrate now, using either route above. - **Running a contract, a multisig or a treasury that holds USDC.n?** Plan the migration this month, and reach out to [@RoboMcGobo](https://forum.cosmos.network/u/robomcgobo) on Telegram if you need a hand. - **Running a chain that wants USDC.inj listed in Skip:Go?** Keep IBC relayers running to Injective and open a PR on the [chain registry](https://github.com/cosmos/chain-registry). * * * ## **Gaia v29.1.0: Proposal 1061 Is Live, Voting Ends November 17, and the Upgrade Restores Decoding of Legacy Parameter-Change Proposals** [Proposal 1061](https://www.mintscan.io/cosmos/proposals/1061) went on-chain on Tuesday, November 10. Voting ends November 17 at 11:57 UTC. If it passes, the upgrade executes at block [33,935,300](https://www.mintscan.io/cosmos/block/33935300), expected around November 18 at 12:40 UTC, give or take block production. The upgrade is state-breaking, so validators need the new binary ready at that height. The v29 upgrade removed the legacy params module, which broke decoding of older parameter-change proposals, so governance queries and state export failed on those entries (reads only; voting and execution were never affected). v29.1.0 restores decoding of those proposals, updates wasmd to v0.60.10 and wasmvm to v2.3.6, and has run on the testnet since November 3. The details are in [last week’s update](https://forum.cosmos.network/t/hub-weekly-update-23-november-5-2026/17540) and the [forum post for the upgrade](https://forum.cosmos.network/t/gaia-v29-1-0-software-upgrade/17569). How you can help: - **Validators: vote on Proposal 1061** and prepare the v29.1.0 binary from the [Gaia repository](https://github.com/cosmos/gaia/releases/tag/v29.1.0), verified against the [release signing keys](https://github.com/cosmos/security/tree/main/release/gaia/signing). - **Watch the announcement channels** for an upgrade time estimate as the block height approaches. * * * ## **Validatier: Node101’s Dashboard Shows Validator and Commission Behavior** ![image](https://canada1.discourse-cdn.com/flex031/uploads/cosmos1/original/2X/b/b94fc31aa783d3a4c0d143926f52b8c89610f30a.jpeg) Node101, a Hub validator team, has [published](https://x.com/node_101/status/2120916664464056758) [Validatier](https://validatier.node101.io/), a dashboard of reward and commission flows for Cosmos Hub validators. This work was made possible by the delegation program’s first cohort of RFPs. Validatier shows general delegation behavior across validators, behavior of commissions, and involvement of exchanges. The views cover the last 3 months, 6 months, year, and all time, with data from August 24, 2024 onward. Node101 built it with feedback from the Hub Unit team. **Why it exists.** One of the [early takeaways](https://forum.cosmos.network/t/hub-weekly-update-1-may-14-2026/16960) of the tokenomics research with Gauntlet was that any meaningful intervention on ATOM’s economics has to engage with cohort behavior and commission concentration, not just the headline inflation rate. Validator commission and reward withdrawals are a recurring flow of ATOM out of staking. Validatier puts a per-validator view of where that flow goes in public, updated daily, and it makes it easy to track. **How it works.** For each validator, the dashboard takes the rewards and commission withdrawn on-chain, follows transfers between the validator’s own wallets, and labels the ones that reach exchange (CEX or DEX) addresses, naming where the exchange is identified. IBC transfers are not counted as sent; the API reports them separately. From there, it can calculate and show the percentage of withdrawn rewards and commission that was sent, the leading exchanges, and aggregate the same figures for the network and per exchange. The validators table can be searched, and there is a public API behind it. ![Per-validator view: average delegation, percentage sent, rewards, sent amount and leading exchange.](https://canada1.discourse-cdn.com/flex031/uploads/cosmos1/original/2X/3/3c0ed03c9f955a4d196e8bde19aae268a91aa3d8.jpeg) _Per-validator view: average delegation, percentage sent, rewards, sent amount and leading exchange._ ![Where the amounts sent to exchanges landed over the selected period.](https://canada1.discourse-cdn.com/flex031/uploads/cosmos1/original/2X/b/b7c3cd951c043175188c7b0de7e63cd80f44a81b.png) _Where the amounts sent to exchanges landed over the selected period._ **Reading the numbers.** An amount sent to an exchange address is a transfer to an exchange, not a record of a sale, and the dashboard does not claim to know what happened after the deposit. A validator with a high percentage sent may be covering infrastructure costs, paying a team, or rebalancing custody. Since August 2024, validators run by exchanges (Coinbase, Upbit, Kraken, Binance) account for about half of the total sent, most of it commission moving to their own exchange’s addresses. The point of the tool is visibility, so the conversation about validator economics can run on the same data for everyone. How you can help: - **Validators:** check your own row. If a transfer is mislabeled, or an exchange address is wrong, tell Node101 at [hello@node101.io](mailto:hello@node101.io) or [@node\_101](https://x.com/node_101) on X. - **Everyone:** tell us what else you want on it, on this thread or on Telegram. * * * ## That’s all for this week! That’s all for this week - thanks to everyone engaging across the forum, validator channels, and Telegram. Looking forward to next week’s update! Please let us know if you like the Weekly format, and what else you’d like to hear from us. - [Follow the Hub on X for updates](https://x.com/cosmoshub) - Join the next monthly validator call: Wednesday, December 9, 9:00 AM ET - Join the next community call: Register for the community calendar [here](https://calendar.google.com/calendar/u/0?cid=Y19iNmMwZWJjOGNlYWMzNzFmMTFmOTQ3NDEwODFkY2IwNzhlOGVmOTVhODk1MTdlNjhhZGQyZTMyMzE0NTExNmNjQGdyb3VwLmNhbGVuZGFyLmdvb2dsZS5jb20)