We have voted “yes” to Proposal 26 of Cosmos Hub by cyber Congress
First thing first. Cosmos validators, please vote for Proposal 26. Only 2 days left.
Some people are surprised by our stance to Proposal 26 given our “No” to Proposal 23. (shameless plug: you can vote via Big Dipper). We have explained briefly the reason for this decision in these tweets.
I further described a more personal view on this proposal:
cyber Congress may not be a “pedigree” type of projects that are supported by OGs, whales, VC and centralized exchanges. This is the exact reason why Cosmos community needs to show their support to them. This proposal is a DeFi experiment worth our attention.
Recently, all of us can see that some centralized powers are trying to capture every opportunity in this space which includes information websites, early stage investment, listing and market making, validator operation and even building the blockchain projects based on open-source technology (but then make their projects closed-source).
Projects with their support are stars. Projects without their support are underdogs. It seems to me that we are moving backward to the Wall Street or Silicon Valley model.
Is that the DeFi we want to see?
I am not sure if cyber Congress’s projects are supported by these centralized powers. But at least I don’t think they have gotten the community’s attention comparable to those “star” projects.
I have to be honest. I am not quite satisfied with their marketing and communications. They cannot explain their project (which is quite complicated) clearly in a simple way. This will be fatal to Proposal 26, given the very limited attention span of validators nowadays. If we have not known them since early 2019, we may also ignore this proposal just like many other validators. (Please vote! The voting period will end in 2 days).
But this is the exact reason why we suggest Cosmos community to take this risk. Why do they perform badly in marketing? Chances are they spend their effort on buidling stuff.
Before we decided to vote yes, we have expressed our concern and given suggestion in their communication. But this does not affect our decision making process.
Am I 100% confidence on the project? No, and don’t need to be. This is something like a pre-seed investment. Through Proposal 26, the community is investing in the project instead of paying a work fee. 10,000 atoms is not a big investment given the team’s track record and uniqueness in Cosmos. If I am an atom hodler, I will bet on them.
“If not us, then who?
If not now, then when?”
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