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Proposal #258

Fix IBC transfers between Lum Network and Osmosis

PassedClient Update Proposal

Passed on 21 Jun 2022 with 93.1% of the votes for yes.

Yes

93.1%

94.0% without abstain

Veto

0.0%

of votes cast

Ended

21 Jun 2022

The ballotvotes cast · final tally
Yes

93.14%

of votes cast

Abstain

0.88%

of votes cast

No

5.98%

of votes cast

Veto

0.00%

of votes cast

This proposal replaces proposal #256. We kindly ask OSMO stakers to consider proposal #256 voided and to reject it in favour of this current proposal.

== Proposal replacement details ==

This new proposal introduces a new IBC client 07-tendermint-1991 to replace legacy client 07-tendermint-1987 on channel Osmosis(115) and LumNetwork(3). The previous proposal used the legacy client 07-tendermint-1987 which ran into a trusting out-of-period, and thus got voided by protocol. The Lum team alongside some of the Lum Network validators have now upgraded their tools to frequently update the new client 07-tendermint-1991 and deprecated the periodic updates of legacy one.

== Description ==

Lum Network IBC channel is currently in a frozen state following the Osmosis chain halt of the past few days. This issue is known and has already been dealt with successfully in January 2022 where it was heavily tested prior to making a governance proposal. The detail of the previous unfreeze operation is available here: [Hidden link]

Lum Team is now ready to proceed with a new channel unfreeze to restore connection between Lum & Osmosis.

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:

  • By voting YES, OSMO stakers voice their support in unfreezing the IBC channel between Osmosis and Lum Network
  • By voting NO, OSMO stakers voice their dissent in unfreezing the IBC channel between Osmosis and Lum Network

This proposal has no effect beside enabling back the IBC connection between the two chains.

Details:

The IBC client refresh between Osmosis and the Lum Network was not possible during the Osmosis shutdown. 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.

Timeline

  1. Submitted16 Jun 2022
  2. Voting started16 Jun 2022
  3. Voting ended21 Jun 2022
  4. Deposit deadline30 Jun 2022

Proposer

Address
Deposit500

Rules

Not recorded for this proposal.