1:1 migration proposal moves Akash Network from Cosmos to Solana

The altcoin currently holds a market capitalization exceeding $200 million, and the daily sentiment stands at 2.85 bullish. Akash Network has put forward a new proposal to shift the protocol from its sovereign chain, Cosmos [ATOM], to the Solana [SOL] network.

Approval of this proposal would permit a 1:1 migration to SPL, but it would not involve moving workloads. Voting on this proposal remains open until November 2nd, with Yes currently leading at 98.41%. The rationale given is that Solana is where DePIN already flourishes due to lower fees, liquidity, and users. Other DePIN projects on Solana include Helium [HNT] and Render Network [RENDER].

The proposal indicates that the supply and decimals will stay unchanged, and it suggests a two-year one-way migration window. The protocol's founder stated that the migration will commence in two weeks. Nevertheless, existing workloads will continue for 90 days post-transition before the original chain is shut down.

This plan still requires governance approval and two independent audits. Additionally, the marketplace cutover and the cessation of staking rewards need another vote, with an official announcement scheduled for mid-November.

Akash Network's founder, Greg Osuri, expressed some reservations because the voting period had not concluded. He remarked, "There is still a small chance voters can change their decision but unlikely."

While this proposal raises questions regarding the wisdom of the decision, it signals that operating one's own chain is becoming excessively costly. On the charts, the mindshare increase did not translate into price action, as the altcoin remained in a sideways range, bouncing between $0.63 and $0.78.

The MACD has shifted to green after four days of bearish dominance, and the RSI divergence is also bullish. An escape from this range might occur as the altcoin taps into Solana's substantial liquidity, though the move is uncertain until token migration begins in the marketplace. Traders are currently buying the token, with the Long/Short Ratio above 1.49 for all accounts and top traders, according to CoinGlass.