A little bit of chit-chat
The Cosmos Hub may be on its way to set a minimum commission for validators, capping it at 5%. According to the proposal, a minimum commission of 5% will level the playing field. It will encourage validators to acquire new delegators based on innovations and involvement rather than using unsustainable economic tactics such as 0% commission fees.
The EVM controversy 👀
Currently, in the Cosmos ecosystem, there are two EVM chains, Evmos and Kava. Both run on the Ethermint library, which is maintained by Tharsis, the founding team of Evmos. Last week, a proposal asking for $5.3M from Kava’s community pool created some controversy in the community.
The proposal aims to help fund Tharsis operations to maintain and continue improving Ethermint, which in practice will benefit Kava. Among the specific goals the funds will cover are performance, stability and security improvements, and research to implement new functionalities.
Currently, with less than 24 hours to vote, the proposal is being rejected with 72.1% of Nays.
Channel upgradability is coming ⚛️
The Interchain Foundation has announced the development of the Channel Upgradability protocol, which will allow chains to leverage new channel features without having to create new channels or perform a network-wide upgrade.
This upgrade, is set to launchlaunch in Q1 2023, will open the door for networks to implement features without losing their current channels, which translates to preventing the loss of accumulated state/liquidity, token fungibility, and network effects on the existing channel.
A deep technical overview of the feature can be found here.
News from the lab 🧪
Osmosis has some news to share. On the one hand, there was the deployment of the first CosmWasm dApp built on the Lab, Apollo DAO, a decentralised hedge fund.
On the other hand, the Osmosis team is focused on shipping Concentrated Liquidity (a feature inspired in Uniswap v3). This feature serves as a mechanism to let the market decide on a sensible liquidity distribution, as rational LPs are incentivised to concentrate their liquidity while ensuring that their liquidity remains active. One of the benefits of concentrated liquidity is that it will lower the incentivisation cost for Osmosis while attracting market makers.
Here’s a list of upcoming airdrops.
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A little bit of intergalactic music for you