Thanks for the well thought out proposal! A few questions if you don’t mind,
- Do you have any idea which brokerages on your platform have an interest in actually enabling trading / custody for ATOM? It would be helpful to know that the integrations costs are going to lead to a meaningful customer base. Any historical references you have from past integrations of similar tokens with staking rewards could be useful.
- For the institutional staking offering, do you plan to launch your own validator or engage a white label validator for this offering? The Cosmos Hub has historically seen issues with large centralized providers (like Coinbase) eating up a lot of voting power and then not meaningfully contributing to governance. It would be awesome if Paxos could commit to working with existing validators who are able to become compliant with any regulatory requirements that are necessary. That said, if you have already engaged with certain validators to offer this product, it would be helpful to know who they are.
- Are you open to setting milestones/KPIs that need to be achieve before the full 300,740 USDC is disbursed? Right now it seems like there is a lot of work to be done and while Paxos has a great reputation in the ecosystem, there have been far too many instances where community spends were give out all at once with zero assurances to the community, therefore it would be a show of good faith to come up with some KPIs to ensure the Hub is getting full value for this partnership/integration.
- Lastly, will any of the $300,740 be used to acquire ATOM for liquidity on the venues it will be offered? Or will brokerages need to acquire ATOM on the open market / OTC markets to offer the token to their users?
Looking forward to seeing how this evolves!