[PROPOSAL #82][REJECTED] ATOM 2.0: A new vision for Cosmos Hub

Hi everyone! I’d like to thank you all for the lively and thoughtful discussion. As promised, I’m posting an update to the paper. The revision includes some minor typo fixes (s/o @Ticojohnny for finding a few). But the substantive changes can all be found in the Issuance section as a direct response to community feedback. The TLDR here is:

  1. Rather than capitalizing the Treasury all at once, the process will be split into 12 equal tranches, each subject to a separate ATOM vote, providing greater accountability as the social, infrastructural system matures.
  2. The 300,000 ATOM per month tail issuance will be directed via ATOM vote to one or more chosen addresses. For example, by selecting the distribution module address as the destination, issuance would flow to Validators, Delegators, and the Community Pool per the existing staking reward logic.

Additionally there have been a number of requests for more clarity on the Cosmos Hub Charter described in the paper, which would provide additional controls on the use of Treasury funds, the relationship between the Assembly and token-holders, and many other details about the social architecture of the Cosmos Hub. You can find a very provisional draft of the charter in a separate forum post, which we hope will be taken up by the community and adapted as deemed appropriate.

Here’s the updated paper link!

Finally, because the Charter is a key element of the proposed system, we’d like to give the community one additional week to read over this document and analyse the preliminary contents in conjunction with the paper. I’ll be making a proposal containing the version of the paper linked in this post on October 31st :ghost:. If the proposal passes, it will imply that the Cosmos Hub should establish a charter. The hope is that the community can come together to adapt and finalize this document over the coming weeks, making a subsequent proposal when ready.