Prop 72 — Accelerating Interchain Security
Here are a lot of details on both sides for prop 72. We are all about helping you decide and we we have no agenda. But here is some of our takes but more importantly aggregating tweets and resources on both sides and we will continue to update it.
It is backed by some very great Cosmos experts. It is also a great way to bootstrap interchain security and start showcasing its use. Jelena, Zaki, Jack, David. But that does not change that this may lack enough details and 4 people is a little small for managing ~14% of the community funds.
The use of ICS helps return more long term incentives and utility to the Hub and using the Hub as a place to help fund the future of the ecosystems.
Providing this development and opportunities not only builds this option but provides some funding to projects who want to build on top of this.
Long term Cosmos’s community pool should help invest into helping expand the ecosystem and return various utilities or tokens in those projects to align ATOM and those projects further.
This is being done on an ICS so would not put the hub at risk of being halted. Still curious on some of the new risks that liquid staking can bring overall though.
This will enable CosmWasm and EVM based contracts on an ICS. Building out even more options on how a project can launch which will be at minimum the following…
On your own chain all together, on an appchain specific chain (Stargaze, Osmosis, etc), using a generalized chain (Agoric, Juno, etc), launching your own ICS chain, launching on a generalized chain secured by the hub.
This accounts for about 13.23% of the community pool. It seems reasonable enough given this is a massive initiative for the year and will help get the ball rolling.
It also provides a model to continuously fund and build this ICS out long term.
While it is not 100% clear what all will be funded Jelena, Jack, Zaki and David are thought leaders in the space. This model is going to be needed. It would be nice to have a board then still confirm their shortlist picks with that said though we need to give some autonomy to groups shortlisting and investigating opportunities to use the community pool if we ever plan to properly utilize it to expand the ecosystem.
We would like more context on the criteria being used to determine projects that get the funding.
With that said we are centered as always to helping you make the best decision not influencing you. Here are some threads we found valuable on both sides.
We still have plenty of time for more context from the teams before vote ends. Valuable resources are outlined from here out start with the full proposal https://ipfs.io/ipfs/QmNeorW8npMEeo4BmJTwmqCMRsjbMJDZDfoMQvh3f1Yeop
Visit the forum of discussions pre-proposal https://forum.cosmos.network/t/proposal-bringing-liquid-staking-and-defi-to-the-cosmos-hub-with-interchain-security/6623
SG1 brings up their concerns https://twitter.com/sg1_online/status/1541320350218207235?s=21&t=JaL0zDrAF82Jzt7dTCWDCg
Jelena rebuttals those concerns some https://twitter.com/jelenaaa____/status/1541416882023964672?s=21&t=JaL0zDrAF82Jzt7dTCWDCg
CosmosAtom made their points and lean towards yes https://twitter.com/cosmos_8888/status/1541410671195484160?s=21&t=JaL0zDrAF82Jzt7dTCWDCg
Cryptocito leans towards yes, makes some good points and asks for an interview https://twitter.com/cryptocito/status/1541409632404512768?s=21&t=JaL0zDrAF82Jzt7dTCWDCg
Robb Stack shares his thoughts and leans towards no with one of the best threads out there https://twitter.com/robbstack_sats/status/1541346094319390720?s=21&t=JaL0zDrAF82Jzt7dTCWDCg
Kevin Garrison shares some initial thoughts https://twitter.com/kevingarrison/status/1541421377063981059?s=21&t=_VB0qC4xAErFWVhio_JK5A
Great take from Abra https://twitter.com/abratusz/status/1541442161387995136?s=21&t=_VB0qC4xAErFWVhio_JK5A
Another great take from Abra https://twitter.com/abratusz/status/1541444848439402497?s=21&t=_VB0qC4xAErFWVhio_JK5A
Zaki providing some additional thoughts on this https://twitter.com/zmanian/status/1541436172731387907?s=21&t=_VB0qC4xAErFWVhio_JK5A
We will continue providing updates under the updates. What are your thoughts?
Jack provides a fair point that ICS needs some GTM spending. Given this is a huge part of 2022 and beyond growth we agree. Some better details on criteria, and more on the board overseeing the funds could be valuable though. https://twitter.com/jack_zampolin/status/1541457426729140224?s=21&t=KygL3tdkcIMZ-jAd_4AD6g
Robb Stacks makes another point that we have seen in various comments. Maybe to much is packed into one proposal vs a series of proposals. https://twitter.com/robbstack_sats/status/1541471314485166080?s=21&t=KygL3tdkcIMZ-jAd_4AD6g
We have been asked on both sides and how we lean. We like ICS and want that. We would like to see more people on the investment DAO. We would like to see ICS and liquid staking to potentially be separate votes. We are not sure how much we support liquid staking based on risk profiles yet.
