Cosmos News /// by ZKV #121
No capital
A little bit of chit chat
Akash has deployed Llama 3.1 and is available for anyone to use in these two instances https://chatapi.akash.network/ and https://chat.akash.network/
Permissionless ICS
A signalling proposal has been posted in the Cosmos Hub community forum for an update on bringing Permissionless Inter-Chain Security (ICS) to life. This upgrade is designed to streamline launching and managing consumer chains within a blockchain ecosystem. This system allows any entity to create an opt-in consumer chain without needing a governance proposal, reducing friction and accelerating the launch timeline.
This will be the workflow for launching an ICS chain:
Registration: A consumer chain is first registered with a single transaction. This initial step creates the framework for the new chain within the system.
Initialization: Following registration, the chain can be initialized with a second transaction. This sets the necessary parameters for the chain's operation.
Configuration: A third transaction can modify the settings if adjustments are required post-initialisation. This provides flexibility to adapt to changing needs or correct any configuration issues.
Launch Criteria: The consumer chain is officially launched once the specified spawn time is reached and at least one validator has opted in. This ensures the chain has the necessary support and security from the outset.
A significant addition to this update is the concept of the consumer chain owner. This account has the authority to modify the settings of the consumer chain. The owner could be a single account, a Decentralized Autonomous Organization (DAO) or the consumer chain’s governance through an interchain account.
This structure introduces considerable flexibility in the administration and governance of consumer chains.
The proposal proponent expects to foster greater experimentation and expansion within the Cosmos Hub with the upgrade.
No capital deployed
AADAO has opted not to pursue a capital deployment opportunity to support Kujira after its recent financial difficulties. Last week, AADAO responded to Kujira's need for a liquidity injection to stabilize its money market platform.
On August 1, Kujira acknowledged its financial issues and explained that some of its operational funds had been used across the ecosystem to enhance liquidity and activity. This decision led to unforeseen financial instability.
Acting as members of the Cosmos Hub, AADAO engaged with multiple counterparts to explore potential solutions for Kujira. After a detailed evaluation of the terms, opportunities, and associated risks, AADAO communicated that it decided not to deploy capital.
Wrap Up
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