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Proposal #823

Signaling Proposal: Update instructions for ATOM POL 2

PassedText Proposal

Passed on 27 Sept 2023 with 98.2% of the votes for yes.

Yes

98.2%

99.9% without abstain

Veto

0.0%

of votes cast

Ended

27 Sept 2023

The ballotvotes cast · final tally
Yes

98.20%

of votes cast

Abstain

1.68%

of votes cast

No

0.12%

of votes cast

Veto

0.00%

of votes cast

Summary\r

\r 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.\r \r According to the current instructions, the AA DAO’s stewardship term for the ATOM POL ends on October 1st, 2023. Unless the instructions for the AA DAO are updated before October 1st, at that date it will begin the process to withdraw and return the liquidity position.\r \r This proposal aims to extend the term of AA DAO’s stewardship by six months, to March 1st, 2024.\r \r In other words, this proposal is necessary for the ATOM POL to remain deployed for another six months. Note that Cosmos Hub may or may not wish to instruct the AA DAO to transfer the ATOM POL before March 1st, possibly to Timewave’s Covenant smart contract system.\r \r This proposal does not affect the AA DAO’s primary responsibility of distributing grants. The term for that primary responsibility will be ending in November. Note that AA DAO members have always stewarded this liquidity on a pro bono basis, and that will continue to be the case. \r \r To read the details and see the exact text of the updated instructions for the AA DAO, see the Cosmos Hub forum post:\r [Hidden link] \r \r

Vote options\r

\r The following items describe the voting options and their significance for this proposal:\r \r \r

  • YES: You wish to extend the AA DAO’s stewardship of the ATOM POL for six months, until March 1st, 2024\r
  • NO: You do not wish to extend the AA DAO’s stewardship term, which would result in the AA DAO removing the ATOM liquidity position on October 1st, 2023\r
  • NO WITH VETO: You 1) consider this proposal to be spam, 2) believe it infringes on minority interests, or 3) believe it violates 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\r
  • ABSTAIN: You wish to contribute to quorum but you formally decline to vote either for or against the proposal\r

Timeline

  1. Submitted13 Sept 2023
  2. Voting started13 Sept 2023
  3. Voting ended27 Sept 2023
  4. Deposit deadline27 Sept 2023

Proposer

Address
Deposit255

Rules

Not recorded for this proposal.