I see the potential value of getting ATOM integrated into Paxos’ regulated brokerage infrastructure, especially for institutional access. But I still have some concerns about the proposal.
ATOM is already available through major institutional-facing players such as Coinbase, and Revolut is also part of the Cosmos ecosystem, right ? So what exactly does Paxos unlock that we don’t already have today?
My biggest concern is the $300k USDC upfront payment. We are paying for the integration, but there are no clear guarantees on how many Paxos brokerage clients will actually offer ATOM, how much volume this could generate, or how much institutional demand already exists.
If the Hub is going to spend $300k to gain institutional distribution, I think we should get more than just the technical integration. Why not include a commercial component in the deal?
For example, once institutional clients gain access to ATOM, Paxos could also promote Cosmos Hub products such as Hydro. Even better, could Hydro potentially be made available or presented as an option for institutional users who gain ATOM exposure? If institutional ATOM staking and locking funds into Hydros vaults is part of the future roadmap, this could create a much stronger value proposition for the Hub and bring institutional capital deeper into the Cosmos ecosystem.
One thing I would also like @RoboMcGobo to clarify: what is the actual difference between the institutional access Paxos provides and the access already available through players such as Coinbase, Revolut or other existing institutional channels? Does this proposal open a genuinely new distribution channel, or could it overlap with infrastructure or access that already exists today?
If Coinbase, Revolut or other existing players already provide similar institutional access, it would be useful to understand exactly what additional value Paxos brings.
I would be much more comfortable voting YES if the proposal included measurable KPIs, some form of commercial commitment, and a clear strategy to bring institutional users not only to ATOM, but also deeper into the Cosmos Hub ecosystem.