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A little bit of chit-chat
Following the successful launch of Neutron on Cosmos Hub, Hypha has gained valuable insights into administering the Hub's testnet infrastructure and coordinating upgrades and new consumer chain launches with over 80 validators. To meet the growing complexity and demand on the Testnets Program as more consumer chains join The Hub, Hypha is actively exploring creative solutions and incentives for testnet participation. Introducing Testnet Wednesdays, Hypha will conduct all coordinated upgrades and launches on the Replicated Security testnet at 14:00 UTC each week. The schedule aims to provide predictability, allowing chain development teams to align their release cycles with testnet rehearsal days.
Mesh reality
Mesh Security has officially transitioned from the ideation phase to the building phase. Osmosis has partnered with Axelar, Akash Network, and ATOM Accelerator DAO, who will provide the necessary funds through grants. This collaborative effort demonstrates the commitment of these organizations to bolstering the security and growth of the Cosmos ecosystem.
By introducing mesh security, two chains, such as Osmosis and Juno, can mutually provide security to each other. This bidirectional security approach strengthens the overall resilience of the ecosystem against potential security breaches or validator staking takeovers. Juno has also played a crucial role in shaping the design of mesh security. The risks to this approach are not yet well understood.
The funding will be distributed through grants to Cosmos developers. This financial backing paves the way for the completion of mesh security over three phases, with a projected launch in the first quarter of 2024.
What’s Next?
On February 7th, Osmosis governance passed Prop #421 approving ProtoRev on chain. The proposal stated that the revenue generated by the ProtoRev module would be held until June 1st, 2023, allowing time for data collection and discussions on the best way to utilize the accumulated revenue. A proposal has been published in the community forum to address the use of the funds.
To date, the ProtoRev module has generated approximately $46,000 in revenue, consisting of $33K in OSMO, $10K in Atom, and $3K in USDC. The current proposal suggests using the accumulated ATOM and USDC to buy back OSMO and burn it, along with potentially burning the existing OSMO revenue to avoid reintroducing sell pressure.
Alternative ideas have also been raised, such as redirecting the revenue to stakers or incentivizing liquidity in specific pools. These proposals aim to distribute the benefits more broadly and foster a fair market. The decision on the best use of ProtoRev revenue lies with the Osmosis community, taking into account the long-term goals and interests of the ecosystem.
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.
A little bit of intergalactic content for you
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.
A little bit of intergalactic content for you
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.
A little bit of intergalactic content for you
Take a look at our latest research by Apriori. We take a look at some Cosmos projects