Cosmos Bi-Weekly Governance Report — Week 10 & 11, 2024
Over the past 2 weeks, we at Simply Staking have voted on 36 proposals for our Validator operations within the Cosmos Ecosystem.
This report will go into some of the proposals we have seen across our vibrant ecosystem including Cosmos Hub #880 which updated the mandate of the AADAO for the Protocol Owned Liquidity deployed on Stride’s pool, Cosmos Hub #885 which introduced a significant upgrade to the Hub by updating the SDK and implementing the Minimum Commission (that we had pushed for in Q3 2023) and much more.
Table of Contents
Cosmos Hub [#880]: Update instructions for ATOM POL 3
Regen [#41] Adjustment of Minimum and Maximum Inflation Parameters
Archway [#39] Fast, Reliable and Scalable Public RPC Powered by Lava
Osmosis [#747] Osmosis Support Lab Funding Round 2024–2025
Upgrades
- [#885] Gaia v15 Software Upgrade
- [#249] Akash v0.32.0
- [#38] Archway v6.0.0 software upgrade
- [#34] BitSong v0.15.0
We hope you find the below insightful & please consider delegating your assets with our secure infrastructure to help support our journey within the Ecosystem!
Cosmos Hub #880 — Update Instructions for ATOM POL 3
The stewardship of 450K ATOMs as POL (Protocol Owned Liquidity) on Stride’s stATOM/ATOM liquidity pool on Astroport has been in the hands of the ATOM Accelerator DAO (AADAO) since Proposal 800 (the original POL proposal).
That initial proposal had an ending date set for October 1st, 2023, after which the ATOM Accelerator DAO would have had to begin returning the funds to the Cosmos Hub community pool unless stated otherwise.
The stewardship of the funds was meant to remain in the hands of the AADAO until a better solution was found. Timewave’s Covenant System is meant to replace this however the solution was not ready (and is still not) by the 1st of October.
Therefore, a renewal Proposal (#823) was put on-chain to extend the duration of the Stewardship of the AADAO to 1st March 2024 with the same terms applying. As of writing, the Covenant System has been completed and audited but won’t be implemented until a future upgrade of the Cosmos Hub (estimated sometime in Q2 2024).
Due to this and the expiry of the stewardship of the AADAO, this proposal (#880) was put up to once again, extend the mandate of the AADAO over these funds until the 1st of September 2024 so that the funds would not get withdrawn and sent back.
The new instructions are the same as all other proposals:
Continue to hold the 450K ATOM, in the form of LP tokens for the stATOM/ATOM pool on Astroport Neutron. Do nothing with these funds, unless instructed to via a Cosmos Hub signaling proposal.
If by September 1st, 2024 no further instructions regarding the ATOM POL have been received from Cosmos Hub, then begin the process of returning the entirety of the funds to the Cosmos Hub community pool in the form of ATOM.
We at Simply Staking voted YES on extending the pro-bono stewardship of these funds by the AADAO until the Timewave Covenant System comes online later this year.
Regen #41 - Adjustment of Minimum and Maximum Inflation Parameters
This proposal is a continuation of Regen’s move to a more sustainable emission schedule as defined in a forum post published 4-months ago.
The first proposal to go up from this post was Proposal #38 which changed the Rate of Change for Inflation to 1.0 from 0.13 (following the Cosmos Hubs lead).
We wrote more on this in our first Governance Report of 2024.
This proposal changes Regen’s InflationMin and InflationMax parameters. This is a trend we have been seeing across the Cosmos Ecosystem as it matures and after the long debates surrounding this when it came to the Cosmos Hub reducing its Inflationary figures.
The changes to Regen’s Inflation are a move away from when it first launched with the same figures as the Cosmos Hub at that time.
Old Rates:
- InflationMin — 7%
- InflationMax — 20%
New Rates:
- InflationMin — 3.5%
- InflationMax — 10%
We voted YES on the move to a more sustainable emission schedule.
Archway #39 — Fast, Reliable and Scalable Public RPC Powered by Lava
Lava’s Incentivized Public PRC (ipRPC) initiative offers a new approach to public RPC. Users & Devs can reliably access data while making it easy for teams to monitor and manage the calls. This ultimately would save on Infra costs according to Lava.
ipRPC will allow Archway to seamlessly consolidate top RPC providers into a single, super-reliable endpoint. Through Lava’s public endpoint, users pair with the top-performing providers in their geolocation.
The total ask was 75,000$. RPC providers will be incentivized with $ARCH every month, according to the volume of requests they serve and the quality of their responses (measured in uptime, latency and sync).
It was noted that the discussions and proposal did not follow the ‘Archway Governance Process & Framework’ that was established as part of Archway #4.
Therefore, with the above in mind, we voted NO as they did not abide by the standard governance practices. We welcome the team to retry the proposal by going through the proper practices outlined.
Osmosis [#747] Osmosis Support Lab Funding Round 2024–2025
The Osmosis Support Lab is a community-funded organization that was voted into existence by Proposal 57. The Support Lab provides 24/7 help for queries through support.osmosis.zone as well as other social channels such as Twitter, Discord, and Telegram.
In the last six months, the OSL handled 5,907 requests through the support.osmosis.zone web widget with an equal amount of requests coming from Discord, Twitter, and Telegram.
This proposal aims to get funding covered for the next 12 months for the moderators and the team helping with the extensive support needed to handle all of these requests and keep Osmosis as one of the most helpful networks when it comes to customer support.
Some of the services that the Support Lab are offering for 2024:
- Support on the Web Widget
- Support in Telegram
- Support in the Osmosis Discord
- Forum moderation and management
- Twitter Support
The total ask for the OSL for the next 12 Months is $487,831 or 304,894 $OSMO.
The amount of work that the OSL has put in over the past two years could be partially attributed to the retention of users that Osmosis enjoys over some of its peers in other ecosystems [chart below].
We voted YES to support the OSL for the upcoming 12 Months and wish them all the best on their mission to provide the best support for Osmosis and beyond!
Upgrades
Cosmos Hub — Gaia v15
The upgrade to Gaia v15 features a few major upgrades and implementation to the Cosmos Hub.
One of the major upgrades is the upgrade to the Cosmos SDK. Gaia v15 uses v0.47.8-ics-lsm which is a special branch of the base SDK with support for ICS (Interchain Security) and LSM (Liquid Staking Module).
The upgrade also brings a few other updates to other dependencies including:
- IBC v7.3.1
- CometBFT v0.37.4
- Interchain Security v.3.31-lsm
- Packet Forward Middleware v7.1.2
This upgrade is also very special for us as it finally incorporates the 5% Minimum Commission across the Validator Set that we had started discussions on and put up for a vote late last year.
For more on that please check out the Forum posting:
Finally the upgrade fixes a series of issues found during Oak Securities audit of SDK 0.47.
For more release notes please check out the Github Epic below.
We voted YES for this and our nodes were able to successfully upgrade the network.
Akash v0.32.0
This is a minor upgrade to the network. Introduces the following updates:
- Remove checking if provider has active leases during provider update transactions. This check was iterating thru all existing leases on the network causing gas and thus transaction fees go to up to 3AKT.
- Remove secondary index for market store which was never used.
- Updating consensus version of market store from 4 to 5
We voted YES for this and our nodes were able to successfully upgrade the network.
Archway v6.0.0
This upgrade adds the following features:
- Enhanced Rewards Withdrawal: The process of withdrawing gas and inflationary rewards on Archway was cumbersome and expensive.
- Cosmwasm_1_4 — upgrade to wasmd to v0.45.0, Archway now supports cosmwasm_1_4 capabilities.
- Cosmos-SDK v0.47.7 — upgrade to the cosmos-sdk to v0.47.7, Archway supports new modules like x/nft and x/group.
We voted YES for this and our nodes were able to successfully upgrade the network.
Bitsong v0.15.0
The upgrade is minor and features the following changes:
- Change Tendermint to CometBFT
- Bump wasmd to 0.33.0
- Bump ibc-go to 4.4.2
- Minor bug fixesFix fantoken, merkledrop and ante_handler test
We voted YES for this and our nodes were able to successfully upgrade the network.
About Simply Staking
Simply Staking is a blockchain infrastructure provider across 60+ networks and various ecosystems. We are one of the Genesis validators on the Cosmos Hub. We also validate on other notable networks such as Oasis, Akash, Polygon, Polkadot, and many more.
We also operate node infrastructure on the Chainlink network providing price feeds to Aggregator contracts which are used by major Ethereum DeFi apps. Our participation in Chainlink aggregator contracts spans other networks such Starknet, Base, Avalanche, Binance Smart Chain, Polygon Network, and many more.
We’re also a LIDO operator, enabling us to run 1000s of ETH validators, as well as running our own ETH Vault on StakeWise.
Simply Staking also comprises other development teams building financial, blockchain, and infra-monitoring tools.
All our infrastructure is run off self-hosted or co-located servers, with no cloud usage at all.
We are based out of Malta.
Stay tuned to Simply Staking for more Governance updates:
- Website: https://simplystaking.com
- Twitter: https://twitter.com/SimplyStaking
- Discord: https://discord.gg/Kpzc58Gu9a
- Telegram: https://t.me/SimplyVC
