Cosmos Ecosystem Governance Report — Week 16 & 17
GM Cosmos, over the past two weeks we at Simply Staking voted on 16 proposals across the Interchain.
The two weeks were predominantly characterised by a multitude of proposals from the Osmosis and Persistence networks. We have also seen a massive uptick in Malicious Proposals (we are doing our part of ensuring that this gets fixed as soon as possible).
Table of Contents
SAGA — #2 Decrease downtime slashing to 0.01%
Osmosis — #767 Reduce Pool Creation Fee to 20 USDC
Osmosis — #769-#771 Re-evaluation of Liquid Staked OSMO held in Community Pool
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SAGA — Decreasing Downtime slashing to 0.01%
SAGA officially launched its network recently. We are proud genesis validators on the chains with over $170M staked on our validator.
We will be releasing an Introductory article on the network in the next week so stay tuned for that!
Being a newly launched chain, it is only normal for SAGA to have to tweak around a few parameters based on their intuition and some community feedback.
The newly updated slashing parameter is down from 1% to 0.01%.
The full slashing and downtime parameters on the SAGA chain are as follows:
Signed_blocks_window:17,280
Min_signed_per_window:0.500
Downtime_jail_duration:600s
Slash_fraction_double_sign:0.050
Slash_fraction_downtime:0.0001
Allow us to explain — There are 2 components to determine the liveliness of a validator: Signed_blocks_window and Min_signed_per_window. In the case of SAGA, if a validator were to consecutively miss 50% (0.500) of blocks in the signed window, so in this case 8,640 blocks.
If the validator is in violation of this, then they will be slashed 0.01%.
Osmosis — Pool Creation Fee Update
The creation of Pools is permissionless on Osmosis subject to a Fee. With the launch of the Osmosis meme factory, start.cooking, launching, Proposal #767 aims to make it even more accessible to create a pool by lowering the fee from 100 USDC to 20 USDC.
This new fee should still be enough to deter spam however there still might be a big influx in the creation of new (potentially duplicate) pools which might have an inverse effect on the overal router system. The performance of the router will be monitored in the coming weeks and if any serious issues arise, a revision of the fee parameter will once again be proposed in order to mitigate the degrared performance.
We at Simply Staking voted YES.
Osmosis — Re-Evaluation of Liquid Staked OSMO
Please refer to the full Forum Post for more information:
Osmosis recently had a series of proposals go live aimed at optimizing liquidity management for stOSMO and other liquid staking tokens (LSTs) like qOSMO and stkOSMO in the Osmosis ecosystem.
The main strategy involves redistributing half of the existing liquidity from the stOSMO/OSMO Stableswap pool to a more efficient Supercharged pool. This shift is expected to enhance capital efficiency significantly.
The initial deployement of the 20M OSMO that was allocated to the stOSMO/OSMO Stableswap pool was approved through Proposal 641.
Additionally, the proposals detail using the capital efficiency gains to establish new Supercharged positions for qOSMO and stkOSMO, each with an allocation of 1.25M OSMO to bolster competition of OSMO LSTs.
We at Simply Staking voted YES on all three proposals.
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
