In August 2024, Stakecito participated in several governance proposals on the Cosmos Hub and below is a detailed summary of each proposal and its significance to the Cosmos Hub community.
For all our Cosmos Governance Votes, visit the Governance Page.
Proposal #945: Signaling Phase – Permissionless ICS
This proposal marked a step towards decentralizing the chain creation process within the Cosmos ecosystem. Permissionless Interchain Security (ICS) allows any entity to create an opt-in consumer chain without needing a formal governance proposal. This system is designed to lower the barriers for launching new chains, enabling them to go live faster and with less bureaucratic friction.
The proposal introduces a multi-transaction process for registering, initializing, and managing consumer chains, including the concept of a consumer chain owner. This flexibility allows for a wide range of administrative setups, from single accounts to decentralized autonomous organizations (DAOs) or even the chain’s governance itself. Stakecito voted YES, recognizing the value in fostering a more dynamic and accessible chain creation process within the Cosmos ecosystem.
Proposal #947: Signaling Phase – Permissionless ICS Frontend
Complementing the Permissionless ICS proposal, this proposal focused on the development of a user-friendly frontend application designed by Informal Systems. This frontend is crucial for ATOM delegators and other users to discover new consumer chains, explore staking rewards, and engage with the broader Cosmos community, including participating in airdrops and providing liquidity. Stakecito voted YES, supporting the initiative to make the Cosmos Hub more navigable and accessible for all users.
Proposal #948: Gaia v19 Software Upgrade
The Gaia v19 Software Upgrade was a technical upgrade for the Cosmos Hub. This upgrade included a range of bug fixes, security enhancements, and performance optimizations necessary to maintain the network's reliability and security.
Regular upgrades like Gaia v19 are vital for the long-term health of the Cosmos Hub, ensuring that the infrastructure remains robust and capable of supporting the ecosystem's growth. Stakecito voted YES, acknowledging the importance of keeping the network secure and efficient.
Proposal #946: Lend ATOM on Mars v2 on Neutron
This proposal was aimed at strengthening the Cosmos DeFi ecosystem by lending 200,000 ATOM from the community pool to Mars Protocol on Neutron. The objective is to create a "flywheel effect" for DeFi in the Cosmos Hub by lowering borrowing rates, which in turn would attract more users and increase transaction volumes.
The proposal highlighted the strategic importance of enhancing ATOM liquidity, particularly in the context of DeFi products such as leveraged staking vaults and liquidity pools. By lending ATOM to Mars Protocol, the Cosmos Hub can offer lower-risk yield opportunities without the downside of impermanent loss, making ATOM more attractive to borrowers and thereby supporting the overall growth of the DeFi sector within the Cosmos ecosystem. Stakecito voted YES, recognizing the potential to enhance ATOM liquidity and DeFi participation without exposing the community pool to significant risk.
#950. Signaling Proposal: Migrate Prop 800 Funds from AADAO Multisig to a Valence Covenant Controlled by ATOM Governance
This proposal addresses the need to transition the liquidity position established by Prop 800 from a custodial multisig managed by the Atom Accelerator DAO (AADAO) to a Valence Covenant controlled directly by Cosmos Hub governance.
The original Prop 800 had allocated 450,000 ATOM to bootstrap the ATOM liquidity pool on Astroport on Neutron, a critical component of the Interchain Security agreement with Stride. The migration to a Valence Covenant would ensure that this protocol-owned liquidity (POL) remains under the direct control of Cosmos Hub governance, thereby enhancing transparency and community oversight.
Valence Covenants, as modular smart contracts, allow for more flexible and secure management of assets without relying on trusted intermediaries. Stakecito voted YES, supporting the transition to a more governance-controlled system.
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About Stakecito Labs
At Stakecito Labs, we've honed our craft as validators. Our reputation as the third-largest validator by delegation count within the Cosmos ecosystem speaks to our unwavering dedication and the trust placed in us by over 270,000 delegators worldwide.
Our validation services are not just about maintaining Cosmos blockchain networks though; we validate networks outside of Cosmos as well (NEAR, Aleph Zero, etc.).
Our core mission is centered on demystifying blockchain technology to ensure it's accessible for everyone, from newcomers to seasoned investors. To begin staking, visit our homepage.
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