Signaling Proposal: Update Instructions for ATOM POL 3
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. Previously, Cosmos Hub governance passed proposal 823 , which extended the ATOM Accelerator’s stewardship of this POL until March 1st, 2024. This proposal aims to extend the term of AA DAO’s stewardship by an additional six months, to September 1st, 2024. Background 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…
Excerpt (1198 of 4492 characters). Read the whole post on the forum ↗
Just FYI, the link onchain to the forum post for this prop is broken: Leap Cosmos Dashboard
Hmm weird. The link works fine on Mintscan
Must be a formatting thing that doesn’t translate well across dashboards 
Stride:Although 2 of the multisig signers, have left the AADAO, all have agreed to stay on the multisig for the prescribed 6 month period should this proposal pass.
Could you provide the exact number of AADAO members currently? The previous explanation was ambiguous regarding the current membership.
Moreover, it seems the initial objectives have not been met as planned. Considering this, is it possible to revert the Atom to the community pool and conduct a reassessment in September? Should the conditions be favorable at that point, the Atom could then be redistributed. Opting for this approach appears to minimize risk and simplify the process. The best stewards of community assets are the community itself.
When does the AADAO plan on replacing the 2 vacated positions?
Note: To give more context to this discussion, readers might also want to take a detour on the current debate going on around “Atom Wars” for another interesting talk about Protocol owned Liquidity (PoL).
Note: The purpose of this post is to make concrete suggestions for the design of a system that would complement the Cosmos Hub’s role as a shared security provider and ATOM’s role as the Interchain Capital. It is written by Thyborg & Juan Beccuti (Informal) with numerous ideas & feedbacks from Zaki Manian (Iqlusion), EffortCapital (Blockworks), Sam Hart (Timewave), Jehan Tremback (Informal), Ethan Buchman (Informal), Elijah (Neutron) and Riley (Stride). The Cosmos ecosystem stands out for its u…
Nevertheless, both this and Covenants are PoL systems that are not functioning at this point in time, which means that an extension of the current AA DAO’s mandate is definitely a reasonable solution until we have more alternatives to discuss. Six months also seems like a good compromise to us.
We will vote YES to this proposal.
To facilitate the integration of the Covenant system
— a smart contract solution for enhanced liquidity management — into the Cosmos Hub ecosystem during the planned upgrade in Q2, 2024.
The ATOM Accelerator DAO proposes extending its stewardship over the ATOM Protocol-Owned Liquidity (ATOM POL) by six months, concluding on
September 1st, 2024.
- Managing liquidity efficiently.
- Minimizing disruption caused by the transition.
- Fostering trust among stakeholders.
Previous Stages of ATOM POL Management:
Initially set until October 1st, 2023.
Subsequently extended to
March 1st, 2024,
via Proposal 823. If no further instructions regarding ATOM POL are received by
September 1st, 2024
the ATOM Accelerator DAO will revert the assets back to the Cosmos Hub community pool.
Benefits Anticipation of the requirement for Interchain Account Controllers after the Cosmos Hub upgrade.
Avoidance of complexities associated with creating a new multi-signature wallet.
Seamless incorporation of the Covenant system once ready.