Initia releases first chain upgrade proposal, reducing staking rewards to 12.5 million INIT

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According to Foresight News, Initia has released its first network upgrade proposal aimed at improving the network's sustainability and decentralization level. This upgrade includes building an emergency proposal submitter whitelist mechanism, adjusting the withdrawal cycle of the OP cross-chain bridge, reducing staking rewards to 12.5 million INIT tokens, and improving the IBC Hook mechanism. If the proposal passes, this upgrade is expected to be executed on May 29 at 00:37 at block height 3,180,000.

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