Governance Reports

Cosmos Governance Report Week -18 & 19, 2024

May 8, 2024

GM, over the past two weeks, we at Simply Staking have voted on 15 proposals.

Included in this report are 3 proposals detailing network upgrades to the Cosmos Hub, Persistence and Archway, as well as the follow-up proposal from the DCF / Agoric regarding their Community Spend Proposal to bootstrap IST and deposit the ATOM in pools to generate revenue for the Cosmos Hub.

Table of Contents

#912. DCF / Agoric Community Spend Proposal

#914. Gaia v16 Software Upgrade

#100. PersistenceCore v11.11.0

#43. v7.0.0

#778. IBC Rate Limit Review

Cosmos Hub – DCF / Agoric Community Spend Proposal

Governance Proposal 899 allocates an initial 4% of the Cosmos Community Pool’s ATOM to be used to generate value for the Hub. Proposal 899 passed on 16 April 2024

This proposal is to pilot an allocation of 4% of Cosmos Community Pool’s idle ATOM for liquid staking on Stride (stATOM) and Persistence (stkATOM) and use these tokens throughout the Cosmos Ecosystem to deepen liquidity while generating value for the Hub. The staked assets will be managed by a multisig, whose administrators are directed to deposit stATOM and stkATOM into Inter Protocol Vaults to mint IST and provide LP to numerous liquidity pools throughout the Cosmos ecosystem. 

30% to Osmosis IST/USDC Concentrated Liquidity pool

25% to Astroport IST/USDC.nbl pool

15% to Astrovault IST/USDC.nbl pool

15% to Shade IST/SILK pool

15% to a Quasar IST/USDC vault


Cosmos Hub Gaia v16 Software Upgrade

This major upgrade to the Gaia codebase introduces a number of updates and new features. The network upgrade is set to occur on May 15th 2024, 18:18:54 CET (16:18:54 UTC).

Updates to Dependencies: 

  • Bump PFM to v7.1.3
  • Bump ibc-go to v7.4.0
  • Bump ICS to v4.1.0-lsm
  • Bump ICS to v4.1.1-lsm
  • Bump cosmos-sdk to v0.47.13-ics-lsm
  • Bump CometBFT to v0.37.5

New additions: 

  • Add ICA Controller sub-module
  • Add the IBC Rate Limit module
  • Add the IBC Fee Module
  • Add rate limits to IBC transfer channels
  • Initialize ICS epochs by adding a consumer validator set for every existing consumer chain


Full release logs:

We have voted YES on implementing the proposed changes. Our nodes are ready to be upgraded at the specified time.


Persistence v11.11.0 upgrade

This minor upgrade aims to fix an issue with the automatic rebalancing on the x/liquidstake module.

The upgrade occurred a short while ago on May 8th 2024 at 14:53:21 CET. Our nodes were prepped for the upgrade and upgrades to the newest binaries in a short time frame.


Archway v7.0.0 upgrade

This was a major upgrade to the Archway Network introducing 4 new modules and more.

The 4 new modules are: 

  • x/callback: This new module allows smart contracts to receive callbacks at the end of a desired block.
  • x/cwfees: Smart contracts can pay fees on behalf of users with unprecedented flexibility.
  • x/cwica: Smart contracts register and control native accounts on other chains.
  • x/cwerrors: This module informs contracts of any execution errors, crucial for those using the x/callback and x/cwica modules.

Overall this upgrade provides developers with the freedom and tools to build more efficiently and be more innovative.

We at Simply Staking voted YES on these proposed changes to allow those utilising the platform to gain access to new innovations which in turn could lead to innovations from the developers.


Osmosis IBC Rate Limit Review

The IBC Rate Limit module was introduced in v13, intended to protect assets on Osmosis in the event of security issues.

“Rate limits allow only a specified net percentage change in the quantity of an asset on Osmosis within a specified period.”

This proposal expands the covered assets on Osmosis to 84%.

The new parameters are as follows (taken direct from the proposal):

Current Denominations – AdjustmentsTo be tightened to net flows of 25% per day and 50% per week from 30% and 60%.

ATOM – ibc/27394FB092D2ECCD56123C74F36E4C1F926001CEADA9CA97EA622B25F41E5EB2

WBTC.axl – ibc/D1542AA8762DB13087D8364F3EA6509FD6F009A34F00426AF9E4F9FA85CBBF1F

ETH – ibc/EA1D43981D5C9A1C4AAEA9C23BB1D4FA126BA9BC7020A25E0AE4AA841EA25DC5

USDC.axl – ibc/D189335C6E4A68B513C10AB227BF1C1D38C746766278BA3EEB4FB14124F1D858

STARS – ibc/987C17B11ABC2B20019178ACE62929FE9840202CE79498E29FE8E5CB02B7C0A4

JUNO – ibc/46B44899322F3CD854D2D46DEEF881958467CDD4B3B10086DA49296BBED94BED

CRO – ibc/E6931F78057F7CC5DA0FD6CEF82FF39373A6E0452BF1FD76910B93292CF356C1

Current Denominations – RemovalsTo be removed due to lower liquidity levels, which cause the daily caps in raw assets to be lower than expected.

EVMOS – ibc/6AE98883D4D5D5FF9E50D7130F1305DA2FFA0C652D1DD9C123657C6B4EB2DF8A

DAI – ibc/0CD3A0285E1341859B5E86B6AB7682F023D03E97607CCC1DC95706411D866DF7

New DenominationsTo be set at net flows of 25% per day and 50% per week.

TIA – ibc/D79E7D83AB399BFFF93433E54FAA480C191248FC556924A2A8351AE2638B3877

AKT – ibc/1480B8FD20AD5FCAE81EA87584D269547DD4D436843C1D20F15E00EB64743EF4

USDC – ibc/498A0751C798A0D9A389AA3691123DADA57DAA4FE165D5C75894505B876BA6E4

AXL – ibc/903A61A498756EA560B85A85132D3AEE21B5DEDD41213725D22ABF276EA6945E

INJ – ibc/64BA6E31FE887D66C6F8F31C7B1A80C7CA179239677B4088BB55F5EA07DBE273

milkTIA – factory/osmo1f5vfcph2dvfeqcqkhetwv75fda69z7e5c2dldm3kvgj23crkv6wqcn47a0/umilkTIA

QSR- ibc/1B708808D372E959CD4839C594960309283424C775F4A038AAEBE7F83A988477

USDT – ibc/4ABBEF4C8926DDDB320AE5188CFD63267ABBCEFC0583E4AE05D6E5AA2401DDAB

FET – ibc/5D1F516200EE8C6B2354102143B78A2DEDA25EDE771AC0F8DC3C1837C8FD4447

DYM – ibc/9A76CDF0CBCEF37923F32518FA15E5DC92B9F56128292BC4D63C4AEA76CBB110

SCRT – ibc/0954E1C28EB7AF5B72D24F3BC2B47BBB2FDF91BDDFD57B74B99E133AED40972A

WBTC – factory/osmo1z0qrq605sjgcqpylfl4aa6s90x738j7m58wyatt0tdzflg2ha26q67k743/wbtc

PICA – ibc/56D7C03B8F6A07AD322EEE1BEF3AE996E09D1C1E34C27CF37E0D4A0AC5972516

DYDX – ibc/831F0B1BBB1D08A2B75311892876D71565478C532967545476DF4C2D7492E48CCU

DOS – ibc/E09ED39F390EC51FA9F3F69BEA08B5BBE6A48B3057B2B1C3467FAAE9E58B021BS

TRD – ibc/A8CA5EE328FA10C9519DF6057DA1F69682D28F7D0F5CCC7ECB72E3DCA2D157A4

qATOM – ibc/FA602364BEC305A696CBDF987058E99D8B479F0318E47314C49173E8838C5BAC

SAGA – ibc/094FB70C3006906F67F5D674073D2DAFAFB41537E7033098F5C752F211E7B6C2New 

Denominations – Stride LSTsStride Liquid Staked Tokens are being treated differently as Stride also has rate limits set at more strict restrictions than Osmosis.These limits will be set to slightly stricter levels than the other Osmosis limits, however higher than the limits on Stride.

stOSMO – ibc/D176154B0C63D1F9C6DCFB4F70349EBF2E2B5A87A05902F57A6AE92B863E9AEC – 20% per day, 50% per week (Stride – 15% per day)

stATOM – ibc/C140AFD542AE77BD7DCC83F13FDD8C5E5BB8C4929785E6EC2F4C636F98F17901 – 20% per day, 50% per week (Stride – 15% per day)

stTIA – ibc/698350B8A61D575025F3ED13E9AC9C0F45C89DEFE92F76D5838F1D3C1A7FF7C9 – 20% per day, 50% per week (Stride – 10% per day)

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: