Proposal #637
Passed on 30 Sept 2023 with 86.8% of the votes for yes.
Yes
86.8%
100.0% without abstain
Veto
0.0%
of votes cast
Ended
30 Sept 2023
86.82%
of votes cast
13.17%
of votes cast
0.01%
of votes cast
0.00%
of votes cast
This proposal grants the address osmo1988s5h45qwkaqch8km4ceagw2e08vdw28mwk4n the ability to upload CosmWasm contracts to Osmosis without needing further governance approval for each upload. This address is managed by @brane_trix.
This proposal would allow upload of Membrane's CDP, Governance & Launch contracts. The main CDP contracts that influence capital have been audited by Oak Security with a grant by OGP.
The launch contract initiates a Lockdrop that distributes 10% of MBRN supply, creates MBRN & CDT (the stable) OSMO LPs, incentivizes the CDT pool with 2M MBRN over a year & acquires the MBRN LP as POL. This ensures MBRN has liquidity to absorb any bad debt auctions that the protocol experiences, acting as a foundation for CDT user solvency from the jump.
This proposal only signals approval for the initial Membrane contracts and their potential upgrades.
Membrane was founded in response to the survival of Terra's collapse and is focused on creating a robust, user-first debt token as the foundation of the protocol's economy. Cosmos still needs a resilient decentralized stablecoin & Osmosis is the best place to launch it.
With a founding team of 1 it is imperative to reduce central control of the protocol as well as decentralizing the value created by it, which is the leading incentive to enable delegatible governance power/commission & distributing a larger % of supply early on.
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