Cosmos ⚛️ April/March 2020 Network Analysis

This is Figment Networks’ March & April 2020 Cosmos Hub network analysis for staking and validator metrics.

Key Metrics

  • Mar 2020 stats can be found here
  • Apr 30 Community Pool balance ~366k ATOM (increasing by ~26k ATOM per month)
  • Mar/Apr reported inflation bottomed out at 7.00%, but it’s effectively 6.41%
  • Effective rewards rate is 8.77% (know the difference between inflation & rewards)
  • validator voting power has remained stable over the past two months

This analysis is for April & March 2020. You can find the February network analysis here.


All Cosmos Hub network stats have remained fairly stable over the past two months, rewards income and voting power alike. You can skip to March 2020 metrics here.

April 2020 Key Metrics

I take a snapshot for these metrics on the 20th day of each month.

Staking & Community Pool

There are ~1.2M more ATOMs staked this month than last, but the ratio of ATOM staked hasn’t really changed. That’s because the number of newly-minted ATOMs increased by ~1.4M.

As long as more than 67% of the supply is staking, inflation will remain fixed at 7.00%. However, as I mentioned in this updated article, inflation will still vary based on block times, and will only begin to increase if less than 67% of the supply is staking.

Staking rewards have stabilized, and you can expect ~8.77% in annual rewards on the amount you have staked.

The Community Pool currently has a balance of ~366k ATOMs as of Apr 30, 2020, and nothing was spent from the pool in the last month.

Voting Power & Cartel Watch

Voting power amongst validators hasn’t changed much.

What’s the importance of validator voting power?
Validators can work together to form a cartel to make changes to the Cosmos Hub. As of Apr 20, 2020:

  • the top 6 validators could halt the chain and veto a proposal
  • the top 12 validators can pass a governance proposal (unless delegators override or unless over 1/3 of the voting power vetoes)
  • the top 19 validators would need to work together to take control of governance or to defraud other chains (once IBC is enabled)

March 2020 Key Metrics

Staking & Community Pool

There are ~1.9M fewer ATOMs staked this month than last, and ~1.3M new ATOMs in the supply.

As long as more than 67% of the supply is staking, inflation will remain fixed at 7.00%. However, as I mentioned in this updated article, inflation will still vary based on block times, and will only begin to increase if less than 67% of the supply is staking.

Staking rewards you can expect ~8.72% in annual rewards on the amount you have staked.

The Community Pool currently has a balance of ~330k ATOMs as of Mar 20, 2020, and nothing was spent from the pool in the last month.

Voting Power & Cartel Watch

Voting power amongst validators hasn’t changed much.

What’s the importance of validator voting power?
Validators can work together to form a cartel to make changes to the Cosmos Hub. As of Apr 20, 2020:

  • the top 7 validators could halt the chain and veto a proposal
  • the top 12 validators can pass a governance proposal (unless delegators override or unless over 1/3 of the voting power vetoes)
  • the top 19 validators would need to work together to take control of governance or to defraud other chains (once IBC is enabled)

That’s all folks!

Not a lot of changes these past two months–let me know if I’ve missed something important. If this sort of data interests you, check out KysenPool’s Cosmos Outpost for other statistics. I’d be grateful for new ideas and additional key metrics.

Hopefully you found this useful. Questions? Comments? Feedback is always welcome! I’m on Twitter