Osmosis Governance Corner — July 20, 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 gov.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:
559 — Change Commonwealth Posting Requirement to Discourse >> Passed
560 — Alternative Transaction Fee Policy >> Passed
Proposals passed or rejected since Previous Governance Corner:
561 — Signalling proposal for adding LORE/OSMO to External Incentive Matching program >> Passed
Proposal 561 went on chain on 14–07–2023 and passed on 19–07–2023.
This is a signaling proposal to include the LORE/OSMO pool (#1036) in the Osmosis liquidity incentives program. Upon passing, the pool will continue to receive incentives as part of the incentive matching program as counterpart of the already passed proposal on the Gitopia chain. LORE is the native gas asset of Gitopia chain. Gitopia is a platform for developers and web3 communities to collaborate on open-source projects in a decentralized and censorship-free environment. Gitopia ensures that your code is always accessible and safe.
562 — Quasar Whitelisted Address for Deployment of CL Vaults >> Passed
Proposal 562 went on chain on 15–07–2023 and passed on 20–07–2023.
Passing this proposal granted the address belonging to Quasar the ability to upload CosmWasm contracts to Osmosis without requiring further governance approval for each upload. Following the implementation of concentrated liquidity (CL), Quasar will be deploying multiple CL vaults, with each pool having two strategies: short range (maximize yield, higher volatility for Gamma & IL) and long range (minimize volatility for Gamma & IL, lower yield).
563 — Reduce Tokenfactory Denom Creation Gas >> Passed
Proposal 563 went on chain on 14–07–2023 and passed on 19–07–2023.
In proposal #489 a fee for creating tokens was created where it would require a large amount of gas to perform the transaction. However, the maximum has been set to a value higher than the chain supports. Passing this proposal lowered the DefaultCreationGasFee to 1,000,000 causing the spam prevention measure to be in place, but still below the maximum allowed to avoid failed transactions.
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. This should help you form an opinion on the proposal, and don’t forget to vote!
Proposal 564 — Add PICA/OSMO to External Incentive Matching Program
This proposal requests to add the PICA/OSMO pool (#1057) in the Osmosis liquidity incentives program. Upon passing, the pool will receive incentives as part of the incentive matching program. PICA is the native gas asset of Picasso network (a substrate based parachain that lives on the Kusama network).
Migaloo is a permissionless blockchain built with the Cosmos SDK, and the White Whale Protocol is the first live Interchain Liquidity Protocol in the Cosmos Ecosystem. Picasso acts as a DeFi hub within the DotSama ecosystem which allows for substrate native dApp deployment as well as the ability to host CosmWasm based applications within its CosmWasm VM. Furthermore, Picasso acts as the network gateway to the Kusama ecosystem through the ability to transfer assets across its IBC-based transfer protocol, Centauri.
Arguments in favor of this proposal
- External incentives will last a year, creating a stable predictable incentive for liquidity providers.
Arguments against this proposal
- None mentioned on Commonwealth/Discourse 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 — Disposition of ProtoRev Collected Revenues — Burn
The usage of the funds collected by ProtoRev have been a topic for conversations for a long time already. This thread on the forum is a continuation of the thread on Commonwealth and aims to deliver a final answer to this question and bring it on chain for voting as soon as possible. All input is appreciated, so come and share your opinion!
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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