A little bit of chit-chat

The most significant version update for Juno is coming and here are some of the proposed changes: 

1) a contract fee split, where 50% of the fees collected from contract usage will be split with the contract developers. 

2) a native token creation mechanism called Token Factory will be made available for DAOs and developers. 

3)  a DeFi Oracle price feed will provide real-time pricing information for various DeFi assets. 

4) governance will also be able to set minimum fees, and users can query these fees. 

5) the Interchain Account Host and Controller, facilitating the seamless transfer of tokens between different chains. 

6) upgrades to Wasm to version 0.30 and IBC to version 4 and IBC Routing. 

7) a 20% initial governance deposit for new members joining the network.

Forking Tendermint

Informal Systems, which has been managing the Tendermint Core repository on behalf of Interchain.io, announced a new chapter in the life cycle of this critical piece of infrastructure. Informal will maintain this consensus implementation under a new name on a fork of the original repository. 

This decision has been made because they have been bootstrapping a new team to steward development. Also, they want to bring the BFT consensus software in line with the current reality of the Cosmos world, which is now inherently multi-network and IBC-native, a much more complex world than a couple of years ago. The team argued that, although it has been brewing for some time, recent comments in the repo have sped up the process.

They also want more freedom to develop and experiment without the constraints of trademarking. They will soon announce the rebrand and release a full breakdown of the engineering roadmap for 2023 once they finalise the rebranding of their fork.

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Stake, stake, stake

Osmosis aims to streamline compounding liquidity rewards and increase liquidity provider participation within Governance. 

Under the current system, users must manually delegate their rewards, which can be time-consuming, and which lead to the build-up of unutilised capital if not performed on time. By automatically staking liquidity rewards with a validator set, this proposal would make it easier for users to ensure that more optimal compounding occurs without requiring manual intervention. 

Users can choose their preferred validator set, and third parties can also recommend validator sets. For users who have not staked any tokens, the proposal would lock liquidity rewards for two weeks to encourage participation in the governance process.

Security first

A proposal on the Cosmos Hub community forum suggests that a third-party audit of the code for Interchain Security (ICS) is needed to supplement the in-house audit from Informal Systems to ensure that the code is sufficiently tested and supported by both internal and external audits. 

ICS is an important milestone for the Cosmos Hub, introducing replicated security that allows multiple chains to inherit the same security of the Cosmos Hub validator set via IBC. The proposal suggests using community pool funds to cover this third-party audit, and some things that need to be finalised during discussions before this proposal is put up on-chain include: the form of the proposal, the funding mechanisms for the audit, the criteria for the audit, and the formation of an Audit Committee.

Airdrops List

Here’s a list of upcoming airdrops.

Wrap Up

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A little bit of intergalactic music for you


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