A little bit of chit-chat
After a couple of weeks of community discussions, Proposal 88 has been put up for a vote on whether the Cosmos Hub should raise its community pool tax. If enacted, the tax rate will go from 2% to 10%, adding around 4M ATOM per year to the pool. In contrast, staking APR will go from 21% to 19.4%.
Informal Systems announced they are building a new Cosmos chain around a nobel concept called liquidity-saving. Liquidity-saving is using capital efficiently by fostering social cooperation. An example of this, as explained on a Twitter thread, is the following:
“Person A might owe $100 to Person B. Person B owes $50 to person A. Person A pays $50 to person B; thus, the debt between them is cleared.”
In the case of more parties involved, the system will apply the liquidity-saving mechanism only if the obligations form a directed cycle. The goal of this new chain would be to use this concept in the real world to create a more robust financial system.
Bring the stables
Osmosis has made headlines in the community because of its new Stable Swap. But there’s more inside its V13 upgrade. Here are the new Osmosis add-ons:
Stable Swap: The Stable Swap allows for big swaps of stablecoins without affecting the price. The Swap differs from the deployment on Uniswap v2 in a way that offers more price stability to users and more computation efficiency.
Multi-hop swap fee reduction: Allows fees to be halved automatically when a trade consists of two $OSMO pools in a single transaction.
Filtered Queries: this allows the front end to query data directly from the chain, which increases accuracy.
Adding more queries for contract developers: which increases the complexity of contracts to be updated.
Instant Unpooling: This will allow governance to specify addresses to permit instantly unlocking bonded liquidity.
IBC Memo Fields: this opens the field for users to send a transfer and specify what they want to do with the tokens once they arrive at the receiving chain.
IBC Rate Limits: The implementation of rate limits will increase the safety of bridged assets on Osmosis.
The upgrade went live on December 8th and marked a significant milestone for the Osmosis team to solidify their leading position in the developing Cosmos DeFi ecosystem.
Here’s a list of upcoming airdrops.
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A little bit of intergalactic music for you