As a modest investor with enough skin in the staking game to care, here are my two cents:
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The very first priority should be to raise the price of ATOM. From this, all other things precipitate. Go back and review what led to ATOM’s $44 ATH and DO THAT AGAIN. If that means waiting for the next bull market to gear up, then wait. Do nothing else. Don’t touch a thing. Price is all that matters at this vulnerable point. We are like a premature-born infant on life support right now, coming out of this bear market. The slightest wrong move and we could lose the baby. Let’s heal first, get strong, and then consider what we are going to be when we grow up.
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ATOM needs to be more than just a staking/security game. IMO, devs missed out on monetizing the best aspect of the ecosystem. Every IBC should be taxed (ever slightly), in ATOM, and pooled for distribution to ATOM stakers. ATOM itself should be immune to taxation through IBC, making it the preferred medium of exchange. This would create buying pressure as every entity would need to have ATOM to operate. I may be missing some nuances of IBC mechanics but seems to me that it is the greatest feature of the ecosystem with the most wasted potential to feed ATOM value.
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Speaking only for myself, my not-insubstantial staking decision was based on high yield. If you take that down by half I will be forced to consider other options, ESPECIALLY with ATOM price performance against BTC, ETH, etc. Again, see #1. If you fix price movement and my yield has the same value at a lower rate, that may offset my desire to pull chocks and leave.
Proceed very carefully with this move. I recommend against it, as it is essentially changing parameters and just “hoping for the best” based on anyone’s guess at outcomes.