A little bit of chit-chat
The Interchain Foundation (ICF) has announced the launch of its new Delegations Policy, which aims to empower, recognize and reward valuable contributions from validators, developers and users to the Cosmos network. The new program is not only designed to reward past and present contributions but also to be a future-looking solution that shares value with contributors. The ICF hopes that this new Atom delegation policy will inspire Cosmos Hub validators to continue to actively contribute to the Interchain and to shape its future. The ICF has shared the first cycle of ATOM delegations with 93 selected validators.
Uniswap coming to Evmos?
Evmos DAO and Orbital Apes team have proposed to build a community-owned decentralised exchange (DEX) within two months. The aim is to create a capital-efficient AMM to grow native liquidity on Evmos. The DEX will be built as a public good for Evmos and will not have any funding coming from token sales or protocol fees.
The DEX will have no investment token and no initial swap fees. It will be built by the OA team, while social management, proposals for incentives, and incentives management will be handled by EvmosDAO. The DEX will offer UniV3 functionalities and have integrated IBC asset and continuous development guaranteed.
The benefits of the community-owned DEX are many. It will provide liquidity, create a stronger peg between tokens, reduce the complexity of onboarding cosmos-based users, and have no protocol fees. The DEX will be ready for the market within two months and will be fully integrated with Keplr. The future development of the DEX will focus on exploring and integrating cross-chain bridge swaps through services such as LiFi. New innovations like Interchain Accounts (ICA) and Interchain Queries (ICQ) will be actively explored and integrated in the best possible way to stay competitive.
Osmosis x Babylon
Babylon Project posted an onchain proposal to conduct a three-phase integration that allows the Osmosis network to leverage the security and availability of the Bitcoin network. Babylon uses Bitcoin to timestamp critical Proof of Stake (PoS) consensus data and resolves a fundamental security threat to PoS chains that allows attackers to fork the chain without being slashed, known as the long-range attack. The integration will not impact the infrastructure and operations of Osmosis validators and relayers, providing extra information and tools that help them secure the network.
Phase One of the integration is permissionless and involves a standard IBC connection without any code changes to Osmosis. This phase unlocks Bitcoin security for Osmosis by verifying Osmosis’ critical consensus data, called checkpoints, submitted by IBC relayers and aggregates the checkpoints for secure Bitcoin timestamps. The Babylon team will also maintain an API server and web service for better visualisation and usability, providing real-time updates of the partner chain’s latest information.
Phase Two will be a standalone step and will not require changes to other code, nor impact existing functionality. The Babylon team will work with the community to design and develop an IBC application module that handles BTC timestamps and associated proofs sent by Babylon. Osmosis will import this module to its App structure. Phase Three will involve the Babylon and Osmosis teams working together to hook Osmosis unbonding time to Babylon’s BTC finalisation, reducing the unbonding time without impacting security.
The signaling proposal serves a dual purpose, signaling the Osmosis community’s intent to integrate Phase One shortly after Babylon mainnet, and providing a clear roadmap for the integration process. The integration of Babylon and Osmosis is a crucial step towards building a strong and united partnership, promoting alignment and a sense of shared ownership among both communities.
The Tweet of the Week
Here’s a list of upcoming airdrops.
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A little bit of intergalactic MEV for you