982

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Introduction

With Prop 981 signaling strong community support, this Parameter Update Proposal authorizes Ark Protocol’s developer wallet to deploy InterChain NFT contracts on the Cosmos Hub. These contracts will enhance security, governance, and interoperability within the Cosmos ecosystem, while facilitating the seamless transfer of NFTs across app chains. The deployment includes initially three components:

1. NFT Contract (cw721) contracts: A standardized and secure framework for creating and managing NFTs.
2. Bridge (ics721) contracts: A robust interchain NFT bridge for seamless and secure cross-chain transfers.
3. Launchpad Contracts: Empowering creators to launch NFTs using the Hub’s governance and security.

The contracts aim to establish the Cosmos Hub as a secure base for digital assets while boosting app chains like Stargaze, Osmosis, and Injective by enabling NFT transfers to marketplaces on other chains.

Driving Value to the Cosmos Hub

1. Security: By hosting ICS721-compliant contracts, the Hub ensures the safe storage of digital assets and resilience against vulnerabilities, preventing scenarios like the UST depeg.
2. Governance: Integration with DAODAO facilitates NFT-based governance models, enabling users to participate in decision-making using NFTs and $ATOM.
3. Ecosystem Growth: Supporting creators, builders, and communities through seamless NFT transfers boosts activity and liquidity across app chains.
4. InterChain Collaboration: These contracts are a public good for all chains, complementing app chains like Stargaze and fostering interchain growth and utility.

Security Measures

• Audited Contracts: Independent audits by Oak Security and SCV Security validate the robustness of the InterChain NFT contracts.
• DAO Management: Contracts are governed by Admin Migration DAO and Operations DAO, ensuring transparency and decentralization.
• Emergency Controls: Proxy contracts, whitelisting mechanisms, and emergency pause functionality protect the ecosystem from vulnerabilities.

Acknowledgments

We extend our gratitude to Stargaze, the main driver of InterChain NFTs. We also thank AADAO, Michael Sotto, Shane, Jorge, Zerk, Noah, Zeke, Reece, JG, Hashimoto, Red Phone, Brian, Deploydon, NicsHODLN, whyre, addingbio, Simon, Vlad, Sunny, Jake, DoraHacks, Confio, the Galactic Syndicate, Mad Scientists, Red Planet, BackBone Labs, Govmos, SG1, Everstake, Allnodes, and the broader NFT community for their trust and contributions to this initiative.

Voting Options

Yes

Authorize Ark Protocol’s developer wallet to deploy InterChain NFT contracts on the Cosmos Hub.

No

Do not authorize Ark Protocol’s developer wallet to deploy InterChain NFT contracts on the Cosmos Hub.

Abstain

Contribute to the quorum but formally decline to vote either for or against the proposal.

NoWithVeto

Indicate that this proposal is spam, infringes on minority interests, or violates governance rules. If NoWithVeto votes exceed one-third, the proposal is rejected and deposits are burned.

This proposal is a significant step toward securing the Cosmos Hub as a backbone for NFTs, connecting communities, and enhancing app chain collaboration. Join us in shaping the future of interchain NFTs on the Cosmos Hub!