Osmosis Governance Corner — August 17, 2023
This is the Osmosis Governance Corner, featuring the Osmosis governance proposals that are on-chain for voting this week. Governance proposals are topics where the opinion from the community is requested. Not sure what a governance proposal means or how to vote on it? Read below for a brief summary, and arguments for and against passage of the proposal.
By voting, you have influence on the outcome of the proposal and the direction Osmosis takes. It is important that Osmosis users vote to ensure the voice of the community is heard.
Osmosis allows everyone to voice their thoughts. You can vote on Osmosis governance proposals using various platforms. Scroll to the bottom to find links to them. Participate in ongoing governance discussions at forum.osmosis.zone. Join the discussion and take control of your vote!
Last Weeks Proposals
In this section you will find information about:
- Proposals which have been described in the previous governance corner update. Only the outcome of the proposal will be listed.
- Proposals which have not been discussed in the update that may have been put on chain and passed between governance corner articles. For the second category a small summary of the proposal will be given, along with the outcome of the voting.
Discussed in Previous Governance Corner:
579 — Create USDT Supercharged Pools >> Passed
580 — Add ETH and WBTC as Quote Assets >> Passed
582 — Add Wormhole as a Canonical Bridge Service Provider >> Passed
583 — Add MsgCreateBalancerPool into Approved ICA Messages list >> Passed
Proposals passed or rejected since Previous Governance Corner:
None
Proposals on chain
In this part of our governance corner update you can find a short description of the proposals which can be currently be found on chain. Read more to find out what the proposal is about and some arguments for and against passage of the proposal. These arguments are not made up on the spot, but retrieved from the conversations on Commonwealth /Discourse or abstracted from the reasoning validators post on validator.keplr.app. This should help you form an opinion on the proposal, and don’t forget to vote!
Proposal 584— Upload the new Pyth contract (v-1.3.0) to the Osmosis chain
Prop #584 seeks approval for the upload of a new version of the Pyth contract. This will provide an update of the price oracle with sources from over 80 first-party data providers, including some of the largest exchanges and market making firms worldwide. Amongst the 200+ assets included in the oracle are cryptocurrencies, equities and more. The upgrade enables new gas optimizations which reduces the cost of updating price feeds even more.
Arguments in favor of this proposal
- This specific version of Pyth is already deployed on other chains without issues.
- High quality oracles to get the right prices on Osmosis are crucial for the UX. Making sure the Pyth contract remains up-to-date is therefore also required.
Arguments against this proposal
- None mentioned on the forum or on validator.keplr.app.
Proposal 585 — Signaling Proposal: Approve the Stride Delegation Process Osmosis Advisory Council
A while ago a request for validators was done to apply for the Stride Delegation program to be included in the set of 36 validators who get a share of the OSMO staked as collateral for stOSMO. At the same time a request was made for individuals to apply for the council who will assess the validator applications and make a recommendation to which validators the delegations will go. This council has now been chosen and this proposal asks to approve the working group. If this proposal passes the group will evaluate the input from the validators and come to a conclusion and finally a proposal on Stride will be the final piece of the puzzle to complete the new set of delegations on Osmosis. The working group consists of the following 5 persons:
- Myles O’Neil (Reverie / Osmosis Grants)
- Johnny Wyles (Osmosis Labs)
- Dohko (Mars Protocol)
- Moonz (Osmosis Support Lab)
- John (a41)
Arguments in favor of this proposal
- The group has a diverse background allowing them to assess the validator applications and obtain a good result to propose to the Stride community.
Arguments against this proposal
- None mentioned on the forum or on validator.keplr.app.
Interesting proposals on Commonwealth
This part of the governance corner update will always contain a maximum of 2 Commonwealth threads which are highly interesting to visit. The threads highlighted here will have a major impact on Osmosis on the long term, so participating in these conversations will allow you to contribute to the future of the project.
Thread — Osmosis support grants
Already included in the article of last week, but still very relevant; the battle for the privilege to serve the community with support! In the coming weeks the current period for the support from the OSL will end (ending at the end of August) and Interbloc has created a competing proposal. The OSL has also created a new one. Both threads can be found on the forum. Since live support is crucial for the best user experience this is a very important topic and every input is welcome (and needed)!
Discourse link OSL draft
Discourse link Interbloc draft
How to vote?
You can vote using various platforms for Osmosis. Simply log in with your wallet (you might need to import your wallet first) and choose Yes / No / NoWithVeto / Abstain on the vote following your own beliefs using the information provided in these blogs. Your own vote always overwrites the vote done by the validator you delegated to, but only for the voting power your address represents.
The following platforms can be used:
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