Update instructions for ATOM POL 2

Summary This is a signaling proposal that aims to update the instructions for the ATOM protocol owned liquidity (POL) that was deployed by Cosmos Hub in proposal 800 . The liquidity is currently stewarded by the ATOM Accelerator DAO, which stewards it according to a clearly-defined set of instructions issued by Cosmos Hub governance. Specifically, this proposal aims to extend the term of AA DAO’s stewardship by six months, to March 1st, 2024. Background Prop 800 and the ATOM Accelerator DAO According to proposal 800 , which originally deployed the ATOM POL, it was established that the ATOM Accelerator DAO would steward it until October 1st, 2023. To quote from the Cosmos Hub forum post that serves as the basis for prop 800, “The ATOM Accelerator DAO members have agreed to steward the 450K ATOM liquidity position as described above until October 1st, 2023 at the latest. At that time, if Cosmos Hub has not passed a signaling proposal to establish a new solution for the liquidity position, then the ATOM Accelerator will begin the process of returning the funds to the Cosmos Hub community pool.” Efforts are currently underway to develop a means for Cosmos Hub governance…

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To be clear, this is a signaling proposal to extend AADAO’s stewardship of liquidity only for 6 months. This is not a request to extend the general operative duration of AADAO, correct?

In the event of AADAO non renewal in Nov/Dec; how does continuity of stewardship work? Has this been discussed?

Stewardship of liquidity does not require full staff.

Are there duties other than management of the multisig?

If so, can you please be more specific as to what stewardship entails?

Can you identify the AADAO members responsible and accountable for liquidity management?

Thanks.

“To pay Timewave, Stride Labs used part of a $131,891 grant it received from the ATOM Accelerator DAO. Stride Labs used the remaining portion of the grant to pay for an audit of the Covenant smart contracts.”

How much of the $131,891 was remitted to Timewave for Covenant development costs?

Thanks for the two questions! To briefly answer: 1 - You’re right. This proposal deals with AA DAO’s stewardship of the ATOM POL, not its main responsibility of distributing grants. Regardless of whether or not the AA DAO receives a second term for its main responsibility, the individuals who comprise the multisig have agreed to continue participating in the multisig and continue to steward the ATOM POL position for another six months. What does “stewarding” the ATOM POL position actually look like? Well, doing nothing. It simply means that AA DAO members are willing to keep their (distributed) control of the ATOM POL position for another six months, do nothing with it, and then either transfer it or return it to the community pool. (If Cosmos Hub wishes, the ATOM POL position may be transferred to Covenant much sooner than six months.) As such, AA DAO members have never been paid specifically to steward the ATOM POL liquidity and do not expect to receive payment for this small task in the future. If you’re curious about the trusted individuals who comprise the AA DAO, see the Cosmos Hub forum post that proposed the founding of the AA DAO. 2 - Approximately $100K was…

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Hey, I’m a bit confused. Could you explain why it is beneficial “to do nothing,” with their control of the ATOM POL. What difference will it make if the control is halted come October and not extended 6 more months?

Hey Stride-Team,

what would be the benefit for ATOM stakers to keep this LP running?

There is barely any volume (204$ last 24h) on Astroport right now, so a LP this huge isnt really needed?

Wouldnt it be more beneficiary to supply parts of the LP to Osmosis or convert most of LP to stATOM?