Cosmos News /// by ZKV #19
Fly me to the moon
A little bit of chit-chat
Evmos passed Proposal 22 to enable the Inflation Module. The Evmos team decided to relaunch the chain with this module disabled to ensure it was stable and upgrades were deployed successfully while giving more time to community members to claim their airdrops. However, it's now time to enable it according to the proposal so delegators can start receiving their staking rewards. The community pool began to get its allocation and usage incentives went live.
A new EVM launched on Cosmos. Kava released Kava Network, a Layer-1 blockchain aiming to combine Cosmos SDK and Ethereum. By design, the network will have two "co-chains", one using Cosmos SDK and the other being the EVM. Both will be interconnected so developers can build without sacrificing access to the users and assets of the other.
Refugees Welcome 🤝
There is an ongoing discussion on the community forum about a proposal to create a Cosmos Hub Pool to fund up to 3 CosmWasm projects willing to launch as a Contract Consumer Chain using Interchain Security after the core team enables it in August 2022.
The pool will be funded with 150,000 ATOM, about 15% of the community pool, and distributed among up to 3 teams, which a Funding Committee will select. The funds are for teams to have a 2-3 month runaway before launching their consumer chain.
The proposal also features the incentive mechanism that will take place under Interchain Security. The developers' DAO, representing the consumer chain, will get 75% of the fees. The other 25% will be distributed among validators and delegators from the Hub for securing the network.
The sentiment among community members participating in the conversation was positive. However, some were requesting a more detailed explanation regarding the milestones, a benefit/risk analysis for the Hub and whether it should include other non-CosmWasm chains. A vote on this proposal will take place soon.
In case of emergency 🚨
Undoubtedly, the Terra collapse has served as a good learning experience for many projects, which are already taking measures to be in the best shape possible in case of another event of similar proportions. The Osmosis community is discussing the possibility of creating a novel emergency mechanism to expedite governance proposals if changes need to be made before the current time window.
According to a Commonwealth post, the Osmosis team could apply some changes to the governance module to allow community members to flag an incoming proposal as expedited. Once it's flagged expedited, for it to pass, it will need to get, in 24 hours, a two-thirds majority of all staked OSMO voting power voting YES. If it fails to reach such a level of support, it will be considered a regular proposition and remain active for the remainder of the ordinary voting period.
The post intended to gather feedback around the measure. Some community members threw in ideas such as the need to charge a higher deposit for expedited proposals and the creation of a playbook to direct the decisions and actions to be taken when an emergency occurs.
A new LUNA for you? ✋
A new version of Terra started to create blocks on May 28th after Proposal 18498 passed with broad support. However, some community members were complaining on Twitter that the IBC channel was not enabled on time, after passing Proposition1299, due to technical issues. Many people worried about the possibility of losing the Terra 2.0 airdrop for having their tokens in other IBC chains.
Community members with LUNA and UST tokens on Osmosis should follow the following steps to be able to claim the Luna 2.0 airdrop:
Get a Terra Station wallet.
Click on add & recover wallet
Give the wallet a name and a password, and enter your Keplr Mnemonic Seed.
Choose 118 path
The index must remain 0
Some users were asking about how to get their Mnemonic Seed on Keplr. Here’s an official blog post that explains how to see the seed on Keplr.
Tell me about Axelar, Sergey. 🎤
As Axelar approaches its token launch on July 14th, we talked to Sergey Gorbunov, co-founder, to know more about the ins and outs of the project.
Q: What's going on with the token launch?
A: From a technical stack, everything is ready. We are just waiting for a couple of custodians to finish their integrations.
Q: At the Getaway Conference in Prague, you mentioned that developers must prepare all projects for the worst. How well is Axelar prepared for the worst?
A: We're always thinking about those things. That's not something we take lightly. When Terra went down, we had a kind of an off-chain governance protocol like a committee that we can kick into to pause transactions to certain chains. So we then halted the connection to Terra by invoking this kind of committee based protocol.
The beauty is that because Axelar has all the routing functionality concentrated on its network, you can pause one path that would automatically suspend connections to all the other chains that asset or that chain is connected to. So this allows you to have this kind of controller mode operations in a very efficient and succinct way where the bad cases where the chain starts minting assets don't have to replicate across the whole ecosystem. This is something that, compared to the pairwise approach, you can't have because for every pairwise connection, you have to have a separate controller operation and pause it, and that blows up pretty quickly with a quadratic number of connections that you have to manage.
Q: UST was one of the most active assets within Axelar. How will the new reality impact the project?
A: Not much. We never focused on specific assets only. We're trying to build a secure transport layer for you to transfer any asset. We're adding things like General Message Passing, where you don't have to move the asset. Now you'll be able to perform general cross-chain function calls. Users will be able to compose applications without explicitly moving in assets. We're still going to support assets in Osmosis and other projects, but our long-term goal is to build this kind of secure, robust cross-chain transport layer. There are various models of how it can be instantiated, either by moving assets to where applications are like we're doing for Osmosis or moving parts of the application logic to where assets are. You could have some pools set across different chains, and you can drive a stake between them. I think that's a new paradigm of programming that we're working with many developers on, which I find a lot more exciting than just moving the assets in a traditional approach.
Q: How has been the experience with the Osmosis integration?
A: We're already integrated. The whole Terra Luna collapse accelerated that, so before last week, the assets that we would bridge over were listed on the Frontier frontend. And then, this past week, they flipped to the main osmosis page so you can see axlUSDC, axlDAI, axlWETH, and axlWBTC.
Q: What chains will we see next in Axelar?
A: Definitely, we'll be adding more EVM chains over the coming months. That's pretty straightforward. We're boarding more Cosmos based chains. I think Juno submitted a proposal to use Axelar as their canonical bridge. Over the coming year, we'll probably be connected to most of the chains in the ecosystem. We have our prioritisation road map that kind of kicks in every month.
Airdrops List
LUNA and UST holders who are eligible for the airdrop of Terra 2.0 should be rewarded as announced in this official post.
Wrap Up
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