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🌟 Introducing Common v1.3.1! 🌟
Exciting times ahead! We’ve just released v1.3.1, packed with fresh features and crucial updates to improve your experience on the Common platform. Here’s what we’ve rolled out:
🌍 Network Optimization: We’re phasing out Goerli and Mumbai to welcome Sepolia and Amoy, enhancing our networks supported. #7384
💥 Easier Stake Access: You no longer need to be a community member to buy stake. Start investing right away! #7181
📑 Efficient Thread Management: Update and manage multiple threads with our new bulk editor capabilities. #7378
🎉 Started to Build Contests: a new contest creation form is completed. Making it possible to launch contests on Common in the near future. #7441
🔄 Chain Selector Update: With Base added to our Chain Selector, navigating supported networks is now more intuitive. #7409
Check out the detailed release here: https://github.com/hicommonwealth/commonwealth/releases/tag/v1.3.1-2
Thanks for being such a vital part of our community. Your active participation is what shapes our path forward. Keep the feedback coming! 🌍💪 #CommonUpdate #NewFeatures #CommunityDriven
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Summary
This proposal repurposes dormant funds from eight completed community-funded initiatives by transferring their remaining balances to a Protocol Owned Liquidity (POL) multisig, established under Proposal 142, to enhance liquidity for the Forge DEX. The funds will be managed by the POL multisig and reassessed by the community in October 2024 to evaluate the effectiveness of this initiative.
Introduction
Eight community-funded initiatives have concluded over the past two years, leaving remaining balances in their multisig wallets. As time passes, people leave the ecosystem, making it difficult to contact them. This proposal directs the multisigs to transfer their balances, ensuring funds remain accessible and useful to the ecosystem.
Proposal Overview
This proposal seeks to redirect these idle balances to a dedicated Protocol Owned Liquidity (POL) multisig established under Proposal 142. The primary objective is to increase liquidity for the Forge DEX, enhancing overall ecosystem stability.
Action Plan
The Evmos DAO will take the following actions on approval of this proposal:
- Funds Transfer: Direct each listed multisig to transfer their remaining balances to the POL multisig.
- Asset Management: The POL multisig may reallocate assets as necessary to support liquidity needs.
- Review and Oversight: This proposal remains in effect until October 15, 2024. The community will then review it to determine its continuation based on achieved outcomes and current ecosystem needs.
Details of Dormant Funds
Proposal | Remaining Funds | Safe Address | Why Funds Remain |
---|---|---|---|
143 Revert integration Details | 50,000 EVMOS | Safe | Keplr integration milestone |
128 Forge development Details | 40,000 EVMOS | Safe | Keplr integration milestone |
115 DoraHacks Hackathon Details | 42,000 G-USDT | Safe | Unused funds |
110 Encode Grants Details | 837,503 EVMOS | Safe | Unused funds |
71 Evmos Faucet Details | 5,500 EVMOS | Safe | Unused funds |
54 Covalent One Million Wallets Details | 46,085 EVMOS | Safe | Unused funds |
45 Sponsor researcher Details | 11,999 EVMOS | Safe | Unused funds / canceled with prop 107 |
42 Hack ATOM 2022 Details | 2,314 EVMOS | Safe | Unused funds |
Total funds in dormant community-funded multisigs: 993,401 EVMOS 42,000 Gravity USDT
Website: https://merchantmoe.com/ Discord: https://discord.com/invite/merchantmoe Twitter: https://twitter.com/merchantmoe_xyz Documentation: https://docs.merchantmoe.com/
Abstract
Deploy new Hidden Hand market for Merchant Moe to strategically expand the protocol through liquidity incentivization.
Background
Merchant Moe is the cornerstone DEX for the Mantle Network, serving the ecosystem as the central hub for trading and liquidity provision as a franchise of the Trader Joe Decentralized Exchange (DEX).
Motivation
Merchant Moe introduces a mechanism of Gauges and Voting Rewards for MOE token emissions to incentivize liquidity provision and reward participation through its veMOE system. By staking MOE tokens, users will begin accumulating veMOE, which represents their voting power within the protocol. These staked MOE tokens will also accrue real yield in the form of sMOE rewards. Users will use their veMOE to vote for pools to boost their rewarded MOE token emissions. These rewarded pools will have a MOE farm to function as liquidity mining rewards. Additional rewards for users may be earned by voting via Voting Rewards. Any party can set rewards to give additional tokens to users who direct their veMOE votes at a certain LP. These rewards are permissionless, meaning anyone can contribute. This provides an extra layer of incentives for users to utilize their veMOE for voting.
Summary
After community discussion, this proposal will move to Snapshot where the following voting options will be presented: Yes - Launch veMOE Hidden Hand market. No - Do not launch the veMOE Hidden Hand market.
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Author
Pete from Origin Protocol
Summary
This proposal intends to have OGV whitelisted as an incentivization token on Hidden Hand’s Origin Protocol Market.
Protocol Overview
Origin Ether was launched in May 2023 and is an ERC20 LST aggregator that generates yield while sitting in your wallet by tapping into blue-chip protocols. OETH is backed 1:1 by ETH, WETH, stETH, rETH, and frxETH at all times; holders can go in and out of OETH as they please. Similar to stETH, OETH yield is automatically distributed at least once a day through a positive rebase in the form of additional OETH, proportional to the amount of OETH held.
OETH yield comes from a combination of:
- Deploying collateral across various DeFi strategies including Balancer pools
- LST validator rewards
- A 50bip exit fee is charged to those who choose to exit OETH via the vault contract (completely avoidable if using a DEX), this fee goes back to OETH holders
- By default, OETH sitting in smart contracts does not rebase, instead the interest generated from those tokens is provided to those that can rebase
These 4 yield generating functions combined enable OETH to generate higher yields than holding any single LST or farming ETH manually. The current collateral allocation and yield strategies can be seen on-chain at all times via the OETH analytics page. More information on OETH and its mechanics can be found in the OETH docs.
The OETH TVL, now over $140m (44,657 ETH), has been trending upwards and has been well received by users with the yield OETH is generating. OETH yield is currently at 3.85% APY, whereas native staking yield on ethereum has ranged from 3.03% - 3.2% APY over the last few months. Origin has managed to integrate OETH to a range of verticals across Defi, including vaults, restaking, and money markets.
OGV is the governance token for OETH and OUSD. Future OETH collateral and yield strategies are governed by OGV stakers. OGV stakers also receive a 10% performance fee on the yield generated by OETH and OUSD. The goal of OGV Staking is to transfer both economic and governance power to those most committed to the long-term success of the protocol.
References
Origin Protocol Governance token: OGV
Bribing chain: ETH mainnet
OGV Token Address: 0x9c354503C38481a7A7a51629142963F98eCC12D0
Origin Protocol website: https://originprotocol.com/
Origin Ether website: https://oeth.com/
Origin Protocol discord: https://discord.com/invite/ogn
Origin Protocol twitter: https://twitter.com/OriginProtocol
Origin Protocol documentation: https://docs.oeth.com/
GitHub: https://github.com/originprotocol
Specifications
We request the Hidden Hand team to complete the whitelisting of the OGV to be used as a bribe token on Hidden Hand. This will provide more opportunities for OETH holders and contribute to the growth of the DeFi ecosystem.
Summary
The Lisk team would like to deploy wdivETH ERC20 token on the Lisk L2 and use the Lisk standard bridge to transfer wdivETH between the Ethereum L1 and the Lisk L2. In this thread we would like to gather some feedback from the community and discuss possible questions/improve on our proposal.
Other related discussions already planned to deploy Diva on Base, another L2 in the Optimism Superchain ecosystem. This proposal is simpler as it targets only the technical deployment of the wdivETH contract and does not discuss related incentivization campaigns and bootstrapping initiatives.
Lisk’s mission and goal
Lisk has recently made a significant shift to become an Ethereum Layer 2 platform, utilizing the OP Stack and Gelato’s Rollup-as-a-Service to connect with the Optimism Superchain. The testnet was rolled out in the first quarter of 2024, with plans for the developer mainnet and public mainnet to be deployed in the second and third quarters of 2024, respectively.
The overarching goal of Lisk is to offer Web3 builders an appealing ecosystem to realize their products focused on real-world use cases in emerging markets. In anticipation of the launch, Lisk has strengthened its ties within emerging markets by securing government contracts and forging strategic partnerships with reputable organizations. These partnerships aim to provide foundational developer platforms, mentorship, and initial funding grants to support Web3 startups.
Synergies between Diva and Lisk
Lisk is planning to support liquid staking tokens (LST) to allow users to participate in Ethereum staking while at the same time enjoying the benefits of being on a layer 2, such as cheaper transaction fees. Furthermore, we want to make the UX for using LSTs as seamless as possible to encourage their adoption and widespread use. To achieve this goal we will implement some improvements to the bridging UX and use an account abstraction solution on the Lisk L2 to make it possible to pay fees using LST and completely forgo ETH usage.
We believe that both Diva and Lisk will benefit from this partnership: Lisk users will get access to the Diva staking and LST; Diva users will be able to access Lisk users in emerging markets and expand the usage of the Diva token even more.
Diva deployment on Lisk
We propose to deploy the wdivETH ERC20 token on Lisk following the IOptimismMintableERC20 interface to ensure compatibility with the standard bridge. This implements a lock-and-mint mechanism that limits the security risks for the underlying tokens.
Afterwards, we will integrate a swap-and-bridge mechanism to the bridge UI to swap ETH to wdivETH before bridging to the Lisk L2. This will allow users to transfer directly ETH as wdivETH with a single interaction.
Currently we are planning to audit our flow and contracts, but we deployed a draft version on testnet which can already be used.
Testnet deployment
- L1 SwapAndBridge contract: https://eth-sepolia.blockscout.com/address/0xd6225b017DC014f2BbBDf6ca1529F3C6A71F1135
- L2 wdivETH contract: https://sepolia-blockscout.lisk.com/address/0x0164b1BF8683794d53b75fA6Ae7944C5e59E91d4
Swap-and-bridge user flow
L1: Send money (e.g. via metamask) to the SwapAndBridge contract on Sepolia L1. The contract will automatically convert ETH to wdivETH on the L1 and bridge it to the Lisk L2. The whole process takes ~ 1 minute.
L2: Navigate to the Lisk L2 testnet explorer: https://sepolia-blockscout.lisk.com/ and check the tokens tab under your account. Alternatively, if using metamask, add wdivETH token to the supported ERC20 tokens
0x0164b1BF8683794d53b75fA6Ae7944C5e59E91d4
and check your balance.
When Cosmos liquidity will land on LUNA? Since 2 years LUNA Without cosmos liquidity. LUNA ecosystem can’t fire up without Cosmos liquidity. Why Cosmos applications/chains or anything needs to come to LUNA as their is no cosmos liquidity on chain? AS business perspective its not great option to support LUNA as it does not have cosmos liquidity on its chain Kindly reduce the unnecessary delays and prioritize Atom-LUNA lp as alliance asset https://commonwealth.im/terra/discussion/16993-whitelist-usdcusdt-atomluna-lunausdc-lp-tokens-as-alliance-assets https://commonwealth.im/terra/discussion/15329-whitelist-usdcusdt-atomluna-lp-tokens-as-alliance-assets
PROPOSER: The KYVE Foundation ([email protected])
Proposal Summary
As a subsequent action in the progression of our decentralized data lake’s growth, we suggest establishing a new data pool. The proposal for setting up this data pool, upon approval, will lead to the validation and archiving of Axelar state-sync snapshots.
Proposal Details
Objectives: Axelar delivers secure cross-chain communication for Web3. KYVE’s goal is to archive the entire state-sync snapshots with a 10,000 block interval to Arweave. This will include creating an Axelar snapshot pool with the runtime @kyvejs/tendermint-ssync
, initially on Kaon. After rigorous testing, it can be proposed on Mainnet to provide Axelar and its ecosystem with streamlined historical data management.
If passed, the Axelar snapshot pool parameters would be as follows on Kaon:
Name: Axelar // State-Sync
Runtime: @kyvejs/tendermint-ssync
Logo: ar://6q3Qc07_wL7pZ1-e4ZbAo1XYzYAKrBhXSSy7gdMKsQk
Config: "{\"api\":\"http://localhost:7878\",\"interval\":10000}"
StartKey: 10000/0
UploadInterval: 60
InflationShareWeight: 1000000
MinDelegation: 75000000000 (75,000 $KYVE)
MaxBundleSize: 1
Version: 1.1.8
StorageProviderId: 3 (KYVE Storage)
CompressionId: 1 (Gzip)
Benefits: Once the entire Axelar snapshots are archived on Arweave, validators can sync within minutes to any historical block height using KSYNC. This easily enables the analysis and review of historical data, which was before very difficult to come by.
Impact Assessment:
- Technical Impact: Creating the Axelar data pool marks the beginning of validating and archiving Axlear snapshot data.
- Economic Impact: Creating the Axelar data pool allows protocol validators to join a new pool, thus maximizing their possible rewards.
- Social Impact: Creating the Axelar data pool opens 50 new validator slots on both on Kaon and mainnet, allowing more users to run a protocol validator on our network.
Voting Options
Voting YES
- A YES vote on this proposal indicates that the Axelar // State-Sync pool SHOULD be created on the Kaon for initial testing before being proposed on mainnet.
Voting NO
- A NO vote on this proposal indicates that the Axelar // State-Sync pool SHOULD NOT be created on the Kaon for initial testing before being proposed on mainnet.
Voting NO WITH VETO
- A NO WITH VETO vote on this proposal indicates that the Axelar // State-Sync pool SHOULD NOT be created on the Kaon nor the mainnet network; and that the proposal depositors should be penalized.
Voting ABSTAIN
- An ABSTAIN vote on this proposal indicates that you decline to give a specific opinion on this proposal while maintaining active governance participation.
Conclusion
Creating new data pools is an essential part of our growth as a protocol aiming to provide all with the trustless data they need in order to build truly scalable and secure projects.
Please note that this proposal follows a template that will later be finalized through a governance discussion around processes.
PROPOSER: Troy Kessler ([email protected])
Proposal Summary
We propose to increase the snapshot interval of the Cronos // State-Sync pool from 5,000 to 10,000.
Proposal Details
The main goal is to greatly increase the archiving sync speed of Cronos state-sync snapshots by increasing the state-sync snapshot creation interval from 5,000 to 10,000 blocks.
Voting Options
Voting YES
- A YES vote on this proposal indicates that the interval for Cronos // State-Sync SHOULD be increased from 5,000 to 10,000 on Kaon.
Voting NO
- A NO vote on this proposal indicates that the interval for Cronos // State-Sync SHOULD NOT be increased from 5,000 to 10,000 on Kaon.
Voting NO WITH VETO
- A NO WITH VETO vote on this proposal indicates that the interval for Cronos // State-Sync SHOULD NOT be increased from 5,000 to 10,000 on Kaon; and that the proposal depositors should be penalized.
Voting ABSTAIN
- An ABSTAIN vote on this proposal indicates that you decline to give a specific opinion on this proposal while maintaining active governance participation.
Conclusion
Creating a solid test environment is essential and a foundation to provide all with the trustless data they need in order to build truly scalable and secure projects and ecosystems.
Please note that this proposal follows a template that will later be finalized through a governance discussion around processes.