PANews reports on May 23rd that the Initia Foundation has published a governance proposal on its official forum, aiming to modify the current annual INIT total supply release rate from 5% to the initially set "5% of staking supply", which is 1.25% of the annual total supply. This correction stems from a parameter configuration error during the genesis on April 24th, which led to excessive inflation, nearly 4 times higher than the original plan.
The foundation has also proposed two subsidy plans aimed at compensating users for staking yield losses affected by Proposal 39. The subsidies will be covered by the foundation's treasury, and users can apply for them in the Initia App before July 7th, with no lock-up requirements. On-chain voting will begin on May 26th at 14:00 and will be executed or rejected on June 2nd. The foundation recommends voting against the original Proposal 39 to safeguard the credibility of community governance.
