Foresight News reports that Initia has released its first chain upgrade proposal aimed at enhancing the network's sustainability and decentralization. This upgrade includes establishing a whitelist mechanism for emergency proposal submitters, adjusting the withdrawal cycle of the OP cross-chain bridge, reducing staking rewards to 12.50 million $INIT tokens, and improving the IBC Hook mechanism. If the proposal is approved, the upgrade is expected to be executed on May 29 at 00:37 at block height 3,180,000.