Osmosis Lab Guest #2, Dec. 8 — Shane, Stargaze
Osmosis Updates from the Lab occurs every Wednesday at 10 AM EST (3 PM UTC) on the Osmosis Zone Twitter Space. We go over all the latest news and plans for Osmosis with hosts Dynamicmanic and kevin and co-founders Sunny Aggarwal and Josh Lee.
Shane V. (shan3v) will be joining us on Dec. 8th. He is one of the developers behind the Stargaze NFT platform, an IBC-connected Cosmos zone that will soon be launching its token in an Osmosis LBP. Stargaze NFTs will be powered by the CosmWasm module, using the CW721 standard (modeled after Ethereum’s ERC721 NFTs).
Interchain NFTs are exciting: provable ownership of assets that can be traded, verified, used in gaming, finance, social media and beyond. All this with the flexibility of app-specific chains, the instant finality of Tendermint consensus, and the ability to scale with IBC and the Cosmos SDK.
Stargaze is proposing to launch their Osmosis LBP with a novel strategy, one that may break ground for other protocols in the future. Elizabeth Barnes, governance expert at Figment.io, has posted a governance proposal on the Osmosis commonwealth page (and on Twitter). We love to see governance being run by the commonwealth before being put on chain.
The proposed strategy is for Osmosis to lend 135k $OSMO to initiate the 95/5 LBP at 50m $STARS and the 135k $OSMO (starting price $0.28/token if $OSMO is $5.50). At the conclusion of the airdrop, Stargaze will pay back the loan in $STARS. The LBP will thus diversify the Osmosis community pool and align the communities’ incentives.
If the method proves popular, Osmosis will continue to become more attractive to smaller teams looking to bootstrap new tokens. The risk to Osmosis, of course, is that tokens can go to zero if no one buys them from the LBP, but this seems unlikely with Stargaze, given the excitement surrounding the arrival of NFTs to the Cosmos. Expect a vote soon.
Stargaze has further aligned itself with Osmosis in their tokenomics and airdrop. Inspired by Osmosis, they are using a thirdening schedule: 1 billion initially, another billion the first year, then 666m in year 2, 333m in year 3, etc., approaching an asymptotic total of 4 billion. The airdrop is scheduled for Q1 2022, and it will be timed to match their dapp launch and first NFT drop.
The airdrop (snapshot Oct. 11) is going to $ATOM and $OSMO stakers (min. 5 and 50, respectively), as well as $OSMO LPs (irrespective of bonding), with extra going to those delegating $ATOM, $OSMO, and $REGEN to the Stargaze validator. See the airdrop calculator for your expected $STARS.
It is exciting to see the explosion of NFT projects in the Cosmos. Teams like Pylons/Tendermint, StrangeClan/Passage, Cosmverse on Juno, BitSong, the $GAME project, and others are all working to develop what will become the NFT standards for the Cosmos. I look forward to the discussion, as well as finding out what projects the Stargaze team is expecting on their platform and what their marketplace will look like.
For more information, check out the links in this article and follow Stargaze on their Discord, Telegram, and GitHub. And follow their other team members: Jake Hartnell (also heavily involved in Juno) and @jhernandezb_. Collectively, the team is known as Public Awesome.
As always, we invite questions during the meeting. You can propose them ahead of time to Dynamic and Kevin on the Osmosis social media channels, or raise your hand to speak during question time.
Our other guest on the 8th will be Sergey Gorbunov of Axelar.
Hope to see you there!
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