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Summary

We propose a new Cosmos Hub vision document, a counterpart to the 2017 paper which focused primarily on the network of IBC-connected chains. With the creation of the Cosmos Stack (Tendermint, IBC, and SDK) and the development of key technologies for secure economic scaling (Interchain Security and Liquid Staking), the original vision of the Hub has been fulfilled. This document marks the transition to the next phase of the Cosmos Hub as an infrastructure service platform, and a renewed role for ATOM as preferred collateral within the Cosmos Network. It describes two pieces of app-specific functionality, the Interchain Scheduler and Interchain Allocator, which together form a flywheel for accelerating interchain growth. The Interchain Scheduler is a cross-chain block space marketplace, which generates revenues from cross-chain MEV. These revenues are used by the Interchain Allocator to capitalize new Cosmos chains, foster interchain collaboration, and thereby expand the total addressable market of the Scheduler. This paper also describes a new issuance regime optimized for Liquid Staking, where after a 36 month transition period, exponential issuance is reduced to a constant amount of ATOM issued per month. To administer the proposed plan, the paper describes the formation of Cosmos Councils, domain-specialized entities that carry out development and operations. Cosmos Councils together form the Cosmos Assembly, a body that is accountable to ATOM holders, responsible for setting yearly goals, resourcing, and administering work undertaken on behalf of Cosmos Hub.

We have included the paper below in its entirety for the community’s consideration.

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Authors

• Sam Hart, Interchain GmbH
• Zaki Manian, Iqlusion
• Ethan Buchman, Informal Systems
• Max Einhorn, Iqlusion
• Jehan Tremback, Informal Systems
• Youssef Amrani, Cosmos Contributor
• David Feiock, Galileo
• Jack Zampolin, Strangelove
• Udit Vira, Hypha Worker Co-op
• Sacha Saint-Leger, Hypha Worker Co-op
• Kristi Poldsam, Iqlusion
• Jelena Djuric, Informal Systems

Governance Votes

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

• YES - You approve of and wish to ratify the contents of the proposed paper
• NO - You don’t approve of the contents of paper. Please indicate why on the Cosmos Hub forum.
• NO WITH VETO - A ‘NoWithVeto’ vote indicates a proposal either (1) is deemed to be spam, i.e., irrelevant to Cosmos Hub, (2) disproportionately infringes on minority interests, or (3) violates or encourages violation of the rules of engagement as currently set out by Cosmos Hub governance. If the number of ‘NoWithVeto’ votes is greater than a third of total votes, the proposal is rejected and the deposits are burned.
• ABSTAIN - You wish to contribute to quorum but you formally decline to vote either for or against the proposal.