Governance Reports

Cosmos Governance Report Week – 20 & 21, 2024

May 22, 2024

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Cosmos Governance Report

GM Cosmos! This week our validator voted on 14 Proposals across the chains we are validators for. 

This report will dive into some of the proposals we had voted on last week including the DoraHacks Quadratic Funding proposal on the Cosmos Hub, a few interesting network upgrade dives, and the latest on the Oversight Elections for the AADAO.

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Table of Contents

#916. DoraHacks Quadratic Funding 

#924. Gaia v17 Software Update

#782. Osmosis v25 Software Update

#920. Cosmos Hub – AADAO Oversight Elections

Cosmos Hub – DoraHacks Quadratic Funding

The ask of 80,000 ATOM from the community pool to fund 24 months of Quadratic Funding prize pool for public goods and new teams building on the Hub and the AEZ (ATOM Economic Zone).

In collaboration with the ATOM Accelerator DAO (AADAO), Dora Factory wish to run 10 QF rounds over the stipulated period mentioned above with a total prize pool of 100,000 ATOMs (10,000 ATOM per round). The AADAO committed to contributing $200K towards the prize pool once the proposal passes.

Quadratic funding is a crucial mechanism to finding gaps in the market, and ensuring highly used public goods remain funded. Public goods typically are not venture funded, and do not have any discernible business model or way to commercialize, so decentralized community funding can often be the only path to survival.

For more on Quadratic Funding please check out the below article!

Gaia v17 – Introducing Partial Set Security

The latest upgrade to the Cosmos Hub is a major upgrade to the current Interchain Security (ICS) offerings. 

The introduction of Partial Set Security (PSS) is a significant step forward from the current Replicated Security (RS) model active on the Hub. PSS addresses some of the issues of RS such as pressure on validators who do not have enough resources to run all the consumer chains. 

PSS (not in this release) aims to also be permissionless (no governance gating). 

For more information on PSS, we have created an article going over every detail!

While you dive into the intricacies of PSS, remember that your assets are only as secure as your Ledger wallet.

Osmosis – v25 Network Upgrade

This upgrade introduces the top-of-block auction mechanism. The ‘Block SDK’ design segments blocks into “lanes”. Lanes allow for a more efficient and customizable approach to transaction processing. Each lane would have its own rules and handle different kinds of transactions. The first lane to be implemented is the top-of-block auction.

The top-of-block auction lives in its own lane and is all about optimizing how transactions get ordered within a block. 

The auction starts with users submitting transaction bundles through a new MsgType called AuctionTx. Bids on that bundle getting executed top-of-block can be placed via an AuctionHouse smart contract (not released yet) or directly with the initial AuctionTx.

The highest bidder will have their bundle take place before all other transactions in the block. This mechanism can significantly speed up the resolution of cross-chain arbitrage opportunities which leads to more efficient pricing across the ecosystem.

For more, please check out the forum post and discussions here!

Another big feature to be included in this upgrade is the Smart Accounts. Smart Accounts allow transactions to be approved by multiple authentication methods. This will significantly upgrade and redefine the UX and Account management for DeFi.

The functionality of Smart Accounts will be enabled in a future governance proposal. 

Cosmos Hub – AADAO Oversight Elections

The AADAO embarked on the journey to elect a third member of their Oversight Committee. The community-elected member.

The third member would:

  • Oversee community sentiment
  • Attend AADAO meetings & share updates
  • Ensure protocol adherence
  • Assist with Transparency Reports

Throughout the past few months and through internal elections, the final 3 candidates emerged. 

For more on this, we compiled a thread with all the relevant information.

A reminder that voting ends on the 24th of May! We at Simply Staking have ABSTAINED from all of the votes due to one of our team members being affiliated with the AADAO. 

Therefore, we ask our delegators to cast their own vote for their preferred candidate.

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