Proposal #115
Passed on 03 Jan 2022 with 99.2% of the votes for yes.
Yes
99.2%
99.9% without abstain
Veto
0.0%
of votes cast
Ended
03 Jan 2022
99.23%
of votes cast
0.68%
of votes cast
0.08%
of votes cast
0.00%
of votes cast
Follow-up on proposal #111 which was rejected on purpose, read the details below for more information.
Proposal goal:
This proposal will enable the unfreezing process of the IBC channel between Osmosis and Lum Network, thus allowing deposits and withdrawals of $LUM on the Osmosis platform:
This proposal has no effect beside enabling back the IBC connection between the two chains.
Details:
The IBC connection between Osmosis and the Lum Network was shutdown during the $LUM Liquidity Bootstrapping Phase in order to have a proper price discovery without external interferences.
Shutting down the IBC connection froze the currently use channel (3-115). Meaning that no IBC transfer can be made using this channel unless this governance proposal is voted YES by OSMO stakers.
The process to enable IBC transfers back require to substitute the current IBC client by a new one that is not in an expired state.
This proposal is a follow-up on the proposal #111 which was rejected on purpose since it raised technical concerns. Indeed, this process had not been tested properly in production prior to proposal #111 and Lum team along Osmosis team agreed to provide a better testing background prior to asking everyone to vote YES to this proposal.
Tests have now been performed succesfully and we are confident this proposal will not have undesired side effects! The following repository contains a full test suite representing what will happen once this proposal is voted YES: [Hidden link]
The Lum Team also wrote a mega-thread on Twitter detailing everything that happened since its main-net launch in order to give more colour to the discussion and debate around this IBC issue: [Hidden link]