[Proposal] Funding the first inscription COSS on Cosmos
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: • Open inscription market, minting function, indexing function, transfer function • Create IBC function for inscriptions so that it can interconnect with other blockchains. • Use the funding provided on other cosmos chains to provide liquidity for inscription tokens. • Achieve complete…
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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.
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.
Question unrelated to this proposal, did Asteroid Protocol Incription Marketplace applied for grant?
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.