"ATOM ONE" Constitution Proposal

I think that the way that inflation was discussed in the whitepaper was very unclear.

Thus, I’m in support of a one-time issuance of 69,420,808 atoms into the treasury.

I am also in support of a minimal hub, to the degree that I’d like to write it over the next few days. Gaia’s code has become a little unuly for minimalism, with a good example of that being the defunct exchange code that must linger because LP’d tokens have been sent all over IBC.

Atom 2.0 isn’t minimal. Here are the risks as I understand them:

  • technical complexity is increased
  • there is a chance that the mev related stuff sells out the hub to mevoors. There are safeguards to this but it’s worth mentioning.
  • the issuance thing is and always will be a gamble

Jae I had the same reaction that you did to the wp. (specifically the changes to inflation – it is a vast wp and I need to get my head around your specific ls concerns still)

I felt that the section on new issuance wasn’t clear at all. Also, after speaking with some of the paper’s authors, I think it is well intentioned.

Your concerns about the hub competing with other cosmos chains are super legit. I think that we should try and get something about that that into the charter.