[Proposal] Funding the first inscription COSS on Cosmos

Hub Proposals Community Spend
1

Change log

2023-11-29 Created initial post

Summary:

Proposal to request for 20000 ATOM from the community spending pool to funding the first inscription protocol (crc-20)
on Cosmos.

Details:

COSS（crc-20）is designed to build an inscription system on cosmos. It will integrate trading, minting and a complete set
of functions.

Our team believes that in order to improve the ecosystem on cosmos we need to build an inscription system. Since cosmos
doesn’t support smart contract, it’s a perfect fit for an inscription system to be built as a part of the existing
ecosystem.

Inscriptions will dramatically increase the utilization of Atom and bring in a lot of extra gas fees, making the cosmos
chain assets more diversified. For this reason, after months of work we have created a crc-20 standard and will release
the first version of the system in the next few days.

Tasks:

  1. Open inscription market, minting function, indexing function, transfer function
  2. Create IBC function for inscriptions so that it can interconnect with other blockchains.
  3. Use the funding provided on other cosmos chains to provide liquidity for inscription tokens.
  4. Achieve complete decentralization of the inscription system and explore the possibility of using inscription in
    conjunction with ICS.
  5. Explore more possibilities for inscriptions.

50% of the funding will be used to complete the development and maintenance of the above tasks.
The other 50% will be used to improve the ecosystem and provide liquidity for the inscription tokens.

Regardless of whether or not the proposal passes, we will do our best to promote the development of the inscription
ecosystem at Cosmos.

Website:

https://coss.ink

Recipient

cosmos1r9759z2qa4yaajk85d95y2kfmhs277uh3efv2a

Amount

20000 ATOM

Governance Votes

The following items summarize the voting options and what it means for this proposal:

YES - You approve this community spend proposal to deposit 20000 ATOM to the team to build the Cosmos inscription.

NO - You disapprove of this community spend proposal in its current form.

NO WITH VETO - You are strongly opposed to this change and will exit the network if passed.

ABSTAIN - You are impartial to the outcome of the proposal.

3 Likes
2

What’s the difference between this proposal draft and the one that was submitted in November: [Proposal 856][VOTING] Funding the first inscription COSS on Cosmos and was rejected by the community? I see it has the exact same wording.

3

It seems like we don’t really need this technology because for now it’s just based on hype. Also, 20K $ATOM is a huge amount. I wouldn’t call it excessive, but there are other proposals or other activities that are more important for COSMOS.

4

Question unrelated to this proposal, did Asteroid Protocol Incription Marketplace applied for grant?

6

Cosmos ecosystem could potentially see improved performance of inscription tokens, enhanced accessibility, reduced confusion, focusing on simplicity and usability, which results in an improved user experience. It also helps businesses cater to the majority of their audience, increasing engagement and conversion rates. Increased compatibility, expanded use cases, and mitigated network issues, all of which would contribute to a more attractive and sustainable ecosystem for users, developers, and validators applying for grants.