Osmosis Governance Corner — June 30, 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:
536 — Enable Superfluid Staking on OSMO/ARB >> Passed
538 — Migrate OSMO Incentives from ION/OSMO Pool #2 to ION/OSMO Pool #1013 >> Passed
540 — Enable Superfluid Staking on ION/OSMO Pool #1013 >> Passed
541 — Enable Superfluid Staking on stOSMO/OSMO >> Passed
542 — Enable Superfluid Staking on OSMO/INJ >> Passed
543 — Signaling Proposal for stIBCX/OSMO (#1039) Incentivised Pool >> 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. This should help you form an opinion on the proposal, and don’t forget to vote!
Proposal 544— Community Enabled Analytics Program Renewal (July 2023 — June 2024)
Flipside is a data analytics provider generating insights based on data obtained from the blockchain and other sources. This data is accessible for free as a service to the Osmosis community. In september 2023 prop #330 funded the first 9 months of operations and this proposal is for a follow-up of the coming year. For a more detailed list of services delivered it is advised to read the document they created.
Flipside creates growth for blockchain ecosystems by enabling community acquisition, retention and on-demand insights. In addition to Osmosis, Flipside has partnered with other major protocols and DAOs such as Arbitrum, Avalanche, Axelar, Base, BNB Chain, Cosmos, Ethereum, Flow, NEAR, Optimism, Polygon, Sei, Solana, THORChain and more.
Arguments in favor of this proposal
- Flipside is one of the few data analytics providers in the Cosmos ecosystem and should be maintained if we want to grow as ecosystem.
- Flipside also interacts with the community creating what is desired and to learn what is needed for the future.
Arguments against this proposal
- The grant request is also asking for funding the governance work, which is standard work of a validator and should be funded via the commission earned on the validator. This part should be separated from the funding request.
- The Osmosis Grants Program is well funded and better suited to assessing the request and determining the size of the grant.
- It is unclear how many unique users use the analytics on a daily / monthly basis. With 30–40 views on the analytics the usage is not enormous, where this can also be that the same person views the same analytics multiple times.
Proposal 545— Enable Superfluid Staking on OSMO/FET
The proposal seeks to enable Superfluid staking on the FET/OSMO (#681) pool on Osmosis. Superfluid staking, if enabled at the current 25% discount rate, would allow an additional ~249 thousand OSMO to be used to secure the network. The proposal seeks to gauge whether governance trusts the stability and security of the chain to allow their tokens to have an influence on Osmosis governance. Fetch provides infrastructure for
smart, autonomous services to automate web3 systems and reinvent business models.
Arguments in favor of this proposal
- FET is already added as MAJOR asset, enabling SFS should be a safe option.
Arguments against this proposal
- None mentioned on Commonwealth or validator.keplr.app
Proposal 546 — Enable Superfluid Staking on OSMO/KAVA
The proposal seeks to enable Superfluid staking on the KAVA/OSMO (#730) pool on Osmosis. Superfluid staking, if enabled at the current 25% discount rate, would allow an additional ~174 thousand OSMO to be used to secure the network. The proposal seeks to gauge whether governance trusts the stability and security of the chain to allow their tokens to have an influence on Osmosis governance. Kava is a cross-chain DeFi Hub for decentralized financial services and applications. The Kava DeFi Hub operates like a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest-bearing accounts so that they can do more and earn more with their digital assets.
Arguments in favor of this proposal
- KAVA will deliver the infrastructure for Cosmos-native USDT, enabling SFS to capture the liquidity of KAVA could be a good move.
Arguments against this proposal
- None mentioned on Commonwealth or validator.keplr.app
Proposal 548 —Allow Levana Contracts upload
This proposal grants the address belonging to Levana the ability to upload CosmWasm contracts to Osmosis without requiring further governance approval for each upload. Levana will upload perpetual contracts which have been audited by FYEO and Peckshield. Levana aims for a soft launch on Osmosis, allowing users to interact with Levana’s perpetual contracts with caps around 10k ATOM.
Levana is a passionate and experienced global team of blockchain experts, institutional traders, financial analysts, product experts, and business developers focused on creating a safer and well-funded perpetual swaps platform across the Cosmos ecosystem
Arguments in favor of this proposal
- Adding perpetual trading to Osmosis will allow a new type of trading to happen on the DEX.
Arguments against this proposal
- None mentioned on Commonwealth or 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 — LST caps
On the Osmosis Commonwealth (and beyond) a discussion keeps popping up whether a cap is required on the exposure a specific chain can have to liquid staked versions of the native coin (in our case OSMO vs qOSMO,/stOSMO/etc). In the past things mentioned are to:
- not make a difference between LSTs for the same asset from different providers
- work with a cap of LST exposed native assets on our chain
This thread on Commonwealth aims to come to a conclusion which is agreed upon to be used for future purposes.
Thread — Taker fee implementation
With the passing of proposal #530 the implementation of a taker fee on Osmosis has been put on the agenda. Where the community seems to agree on the added value of having this to generate yield for stakers there needs to be consensus on the height of the fee and how this should be implemented. This thread on Commonwealth is to gather insights and come to the best possible solution where both the real yield for OSMO stakers is secured as well as making sure that Osmosis stays attractive for traders.
Commonwealth link (1)
Commonwealth link (2)
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:
Enter the laboratory at Osmosis.zone, the first decentralized exchange powered by the Cosmos SDK and IBC. See our published lab reports at the Osmosis blog, our bench notes at Github and help plan future experiments in our Commonwealth
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