A little bit of chit-chat
A scam alert has been issued in the Evmos community. Some users reported unknown websites appearing as ads on Google, trying to impersonate the Evmos web app and EvmosSwap. As of writing, the ads were still live. Make sure you are navigating on the official websites of each of the applications: https://app.evmos.org/ and https://app.evmoswap.org/swap
DAO DAO DAO is officially a… DAO 🎉
On August 11th, the DAO DAO DAO will launch, dropping its tokens to early contributors and two pools to foster innovation and decentralisation.
A whopping 75% of the tokens will go towards the Treasury, which will then serve to exchange $DAO tokens for the tokens of the DAOs that will be built using DAO DAO’s infrastructure and tooling. This will ensure in the long term that DAOs builders will be the owners of DAO DAO.
The remaining 25% will be divided among early contributors (8% tokens) and future contributors (17% tokens). The first ones are not only the people who shipped code but also the people who submitted bugs, provided feedback on our UI, tested DAO DAO, and provided help to the community.
Future contributors will be rewarded with the 17% of $DAO tokens going to the Future Development Fund. It will work as a subDAO that will invest in building new tools such as DAO payroll tooling, support for inter-chain accounts (ICA), support for staking and voting with NFTs, etc.
While there will not be an airdrop, since the $DAO tokens will be distributed among several DAOs across the time, maybe these projects will decide to distribute some of these tokens to their communities.
A new breed of rollups 🗞️
Celestia has released documentation for developers to begin building “pessimistic” sovereign rollups through early access to Optimint - an ABCI-client implementation for Optimistic Rollups. This comes with a promise that this new class of rollups would have the sovereignty of a Layer-1 with the shared security of a rollup.
As described in their blog post: In contrast to non-sovereign rollups, “there is no set of smart contracts that the sovereign rollups refer to on Celestia. Instead, sovereign rollups publish their blocks as raw data directly onto the chain. Now, nodes on the sovereign rollup are responsible for reading the blocks and verifying a local fork choice rule to determine the canonical chain”
Optimint, a replacement for Tendermint, will publish blocks to Celestia for consensus and data availability, so the rollup doesn’t have to go through the Tendermint consensus. This early access version will run on Celestia testnet in pessimistic mode as nodes will still need to re-execute transactions to check the validity of the chain.
The buzzword of the week ⚛️
The buzzword for Cosmonauts this week was ATOM 2.0, referring to Noam Cohen’s presentation on Buidl Asia, which offered a look at what the new monetary policy of the Cosmos Hub could look like.
Here’s what we know so far:
The Cosmos Hub community wants to make its native token more appealing by generating value in many ways. One of the ideas on the table is for ATOM to become a reserve currency. Billy Reinkamp aired an idea during the Gateway Conference in Prague about an ATOM backed by a basket of assets from the IBC.
Another idea is through the development of the Hub Atom Liquidity (HAL), a protocol control value mechanism that will spend Atom inflation in acquiring pairs of ATOM-aligned LP tokens.
Airdrops List 💧
Here’s a list of upcoming airdrops.
Wrap Up
If you like our newsletter, share it with your friends so they can be also on top of the latest and the greatest (and sometimes not so great) of the Cosmos ecosystem.
In the meantime, feel free to follow us on Twitter @zkvalidator and visit our website to stake with us.