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Evmos Governance Council Meeting 6.1.2023
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Evmos Governance Council Meeting 6.1.2023

Atmos Happening Day and Forge Update

In this section, the speaker talks about Atmos happening day and gives an update on Forge.

Atmos Happening Day

  • Today is Atmos happening day, which means that the daily emission rate of amino acid is going to be reduced by 50%.
  • This event has a lot of implications in terms of the whole macro or macro tokenomics.

Forge Update

  • Forge is barely a month old but has managed to look up a TVO of around 2.35 million dollars with more than 50,000 transactions and around 4.5 million dollars in volume.
  • The annualized estimated volume should be over $25 million in volume which is great for the community as it is a community on decks.
  • The team is working on improving user experience and developing Forge version two with new features and integrations.
  • Better documentation is coming soon to address concerns from the community regarding liquidity management.

Prop 92 Addressing Concerns

In this section, the speaker addresses concerns related to Prop 92.

  • The speaker mentions Prop 92 and says they will address concerns related to it later in the conversation.

Ecosystem News

In this section, the speaker talks about ecosystem news related to Dex aggregator Eisen, Pingolin's upcoming launch, Steer Protocol, and Look.

Dex Aggregator Eisen

  • A new Dex aggregator called Eisen was launched that utilizes both Uniswap V2 and V3 on Atmos to find the best route.

Pingolin's Upcoming Launch

  • Pingolin is preparing to launch within the next week, which is exciting news for the ecosystem.

Steer Protocol and Look

  • Two D5 projects, Steer Protocol and Look, are launching under Atmos as well.

Tashi and Kashi Protocol

In this section, the co-founders of Tashi, Christine Lindsay and Lindsey McConaghy introduce the Kashi protocol. They discuss their team's progress so far and mention that they will be meeting with others to see where they can help.

Introduction to Kashi Protocol

  • Tashi is putting on Rln on Devmos.
  • The Genesis pool will be opened in two to three weeks from now with Eplos and Adam.
  • Token sale will be held, and they should be launched in July if all goes well.
  • The co-founders are excited about other things getting off the ground.

Penguin Protocol

In this section, the speakers talk about Penguin protocol. They discuss how it was started by Avalanche Foundation and handed over to the community. They also mention that it is a community-governed protocol.

Introduction to Penguin Protocol

  • Penguin was one of the leading boxes on Avalanche.
  • It was started by Avalanche Foundation or its equivalent.
  • It was handed off to the community, and now it's 100% Community governed.

Collaborative Spirit in D5 Ecosystem

In this section, the speakers talk about collaborations between protocols in D5 ecosystem. They mention that unlike other custom snap chains, since they are a layer one platform, there are many interesting collaborations possible.

Collaborations Between Protocols in D5 Ecosystem

  • There are tons of protocols trying to prop each other up instead of fighting for liquidity.
  • Excited to see how everything will advance in the next few months.
  • A lot of interesting collaborations that are possible between protocols in D5 ecosystem.

Tashi's Successful Launch

In this section, the speakers talk about how the community and governance work stream can help with Tashi's successful launch. They mention that it is important for the community to be involved and provide feedback.

How Community Can Help with Tashi's Successful Launch

  • It will be important for not just the DAB but also the community itself to be involved.
  • They want to know what's important to people and how they can help create partnerships that extend beyond what's already in adminism.
  • They plan on making good documentation and teaching a lot.
  • They want to represent teaching in this space and not just about what they do.

Progressing the Ecosystem

In this section, the speakers discuss ways to make it easier for people to enter the Cosmos ecosystem and how they plan to break down barriers.

Breaking Down Barriers

  • The barrier to entering the Cosmos ecosystem can be high for outsiders.
  • They plan on breaking down these barriers by creating educational materials and making it easy for people to understand how everything works.
  • Making the community more welcoming and inviting is a big focus for them.

Happy Thoughts and Grant Update

In this section, the speakers provide an update on Happy Thoughts and Grant, as well as Dora hackathon.

Happy Thoughts and Grant Update

  • Most is a silver sponsor at ESO event where one of their core team members will be speaking in about 12 hours.
  • The happy plan track was canceled due to some miscommunications but Dora hex hackathon got extended 14 days.
  • There are currently 61 projects submitted for Dora hackathon, which is encouraging.

Encode Grants Round

  • The deadline for Encode Grants Round number two is June 4th.
  • This grants program is community-funded and managed in conjunction with Encode Pull Up.

Commonwealth Discussions

In this section, the speakers discuss Proposal 92 and other Commonwealth discussions that have come up in the past week.

Proposal 92 Discussion

  • Proposal 92 has raised concerns regarding meeting milestones and obligations.
  • Issues include misunderstandings regarding early payout of Milestone one and persuading the multi-sig to take funds and put them in personal accounts to stake them.
  • This is a huge security risk and was outside the scope of the proposal.

Other Commonwealth Discussions

  • There have been other discussions regarding Commonwealth, but they are not discussed in detail.

Issues with Multi-Sig Holders

The speaker discusses issues with multi-sig holders and the delay in updates. They encourage everyone to read the posted response on Commonwealth for more information.

  • Multi-sig holders were slow to put out updates, causing frustration among users.
  • Brief Twitter posts did not provide enough information or cause much of an update.
  • A lot of issues exist with multi-sig holders that are too complex to go into detail about.
  • A response has been posted on Commonwealth, and the speaker encourages everyone to read it for themselves.

Improving Multi-Care Handling

The speakers discuss how multi-care can be improved by creating guidelines for best practices.

  • Guidelines should be created for best security practices when managing multi-things.
  • Suggestions include stopping following approaching wallets and asking for updates, verifying addresses, and providing general suggestions for participants in multis.
  • Ethereum has established an unspoken rule on how to effectively and safely manage multis, but Cosmos users may not be familiar with these best practices.
  • Mistakes were made due to a lack of understanding of multi-etiquette or best practices.

Creating Guidelines for Multi-Sigs

The speakers discuss the need for guidelines on creating strong multi-say compositions and best security practices.

  • Mistakes could have been avoided if there were clear guidelines on how to create a strong multi-say composition and follow best security practices.
  • A simple guideline would be beneficial regardless of where someone is coming from (Ethereum or Cosmos).
  • This is a good learning opportunity, and they will work on creating guidelines.

Setting a Good Precedent

The speakers discuss setting a good precedent while avoiding stunting project growth.

  • They want to set a good example but also avoid stunting project growth.
  • Community feedback is needed on how to proceed with multi-sigs and guidelines.
  • Guidelines for multi-sigs would help with clarity and prevent misunderstandings.

ERC20 Asset Registration of Meme Token

The speakers discuss the pre-proposal read for the ERC20 asset registration of the meme token.

  • The speaker is neither for nor against registering the meme token.
  • Community input is needed, and people should provide insights into the matter.

Registering Zen Token at IPC Token

The speakers discuss registering Zen Token at IPC Token.

  • Zen has a big community in all large EVMS, but not many people understand what it is.
  • There are no negatives to registering it as an IBC token, but we need to keep in mind that all ABC tokens coming from Atmos will reflect the Atmos chains.

Risks of Malicious Code during Asset Registration

The speaker discusses the potential risks associated with registering assets due to the possibility of malicious code being executed during registration.

  • There is a reason why asset registration goes through governance, and there could be malicious code that could be executed during registration.

ERC20 Tokens and IDC/IBC Representation

The speaker talks about the benefits of using an already existing ERC20 token for IDC/IBC representation.

  • If an asset is already ERC20, then the risk isn't as high if it's used for IDC or IBC representation.
  • Scam tokens can endure on EVmos, but if it's already ERC20, then it's only on the image of Atmos.
  • It is important to do due diligence before deciding whether to see something as an IBC token.

Spam Messages on Commonwealth Thread

The speaker mentions spam messages on the Commonwealth thread and confusion surrounding a project called Zen.

  • There are newer spam messages on the Commonwealth thread where people are posting about a great project without any username or face.
  • Zen is a confusing project, and the more one tries to learn about it, the more confused they get.
  • Zen has a Telegram group with roughly under 200 people in it. They were encouraged to voice their support for making a Commonwealth group.

Active Community Members in Zen Telegram Group

The speaker talks about active community members in Zen's Telegram group who are encouraging others to support them.

  • From outside appearances, it looks like there are sock puppet accounts supporting Zen. However, they may actually be active community members from Zen.
  • It is up to the community members to do their own due diligence before deciding whether to support Zen as an IBC token.

Defense from Editing

The speaker provides a defense and explanation for their actions regarding the project.

  • The speaker mentions that the discussion was not a personal attack, but rather an attempt to do due diligence on community pool expenses.
  • They apologize for any misunderstandings and state that they believe some of the issues were misunderstandings.
  • The speaker explains their thought process behind requesting certain funds and minimizing risk by staking.
  • They acknowledge the risks associated with staking and understand where the concerns are coming from.

V1 Conversion Platform

In this section, the speaker talks about the initial version of their conversion platform and how it required connecting a wallet and spending gas. They also discuss how rewards were only directed towards the connected wallet.

Initial Version of Conversion Platform

  • The initial version of the conversion platform required connecting a wallet and spending gas.
  • Rewards earned from playing games were only directed towards the connected wallet.

Improving User Experience

  • The team wanted to decrease friction and make it easier for users to operate and navigate.
  • Users can now sign in with their email or Gmail, exchange points earned from playing games, and redirect reward tokens to any wallet without spending any gas.

Communication Issues

In this section, the speaker discusses communication issues that arose during the project's development.

Lack of Communication

  • The speaker acknowledges that there was a lack of communication on their side regarding updates on the project's status.
  • They also mention that they did not receive any messages or comments from community members during this time period.

Frustrations Arising From Lack of Communication

  • The lack of communication led to frustrations among community members who were expecting updates on the project's progress.
  • The speaker acknowledges that better communication could have prevented some of these frustrations from arising in the first place.

Moving Forward

In this section, the speaker discusses how they plan to move forward after addressing past issues.

Openness to Feedback

  • The speaker is open to feedback from the community and is willing to accept whatever decision they make.

Importance of Moving Forward

  • The project has been a significant investment of time and effort, and the speaker wants to move forward regardless of whether they continue working together or not.

Introduction to Tashi

In this section, Christine Lindsay introduces herself and her co-founder as the co-founders of Tashi. She explains that they are putting RLN on Evmos and are excited about it.

Key Points:

  • Christine Lindsay and her co-founder are the co-founders of Tashi.
  • They are putting RLN on Evmos.
  • They are excited about their project.

Upcoming Launches

In this section, Christine Lindsay talks about upcoming launches for Tashi. She mentions that they will be opening their Genesis pool in two to three weeks with Eplos and Adam. Additionally, they will be holding a token sale and plan to launch in July if all goes well.

Key Points:

  • The Genesis pool will open in two to three weeks with Eplos and Adam.
  • A token sale will be held.
  • The launch is planned for July if everything goes well.

Collaboration with Pangolin

In this section, Christine Lindsay talks about collaborating with Pangolin. She explains that they will be using them for their DEX and that there is an opportunity with Forge.

Key Points:

  • Tashi will use Pangolin for their DEX.
  • There is an opportunity with Forge.

Information About Pangolin

In this section, the speakers discuss information about Pangolin. They mention that it was one of the leading boxes on Avalanche before being handed off to the community. It is now 100% community governed.

Key Points:

  • Pangolin was one of the leading boxes on Avalanche before being handed off to the community.
  • It is now 100% community governed.

Collaborations in DeFi

In this section, the speakers discuss collaborations in DeFi. They mention that protocols can leverage each other and build on top of each other. They also talk about interesting collaborations and cross-collaborations that are possible.

Key Points:

  • Protocols can leverage each other and build on top of each other.
  • Interesting collaborations and cross-collaborations are possible.

Importance of Community Involvement

In this section, Christine Lindsay talks about the importance of community involvement for Tashi's success. She mentions that they want to be more than just a platform and want to know what's important to people. Additionally, she talks about promoting decentralized collaborations between people.

Key Points:

  • Community involvement is important for Tashi's success.
  • Tashi wants to know what's important to people.
  • Decentralized collaborations between people should be promoted.

Understanding Meditance Proposal

In this section, the speaker talks about how a proposal was made by Meditance to the community and how it has changed without consulting the community.

Changes in Meditance Proposal

  • The speaker talks about how the proposal made by Meditance has changed without consulting the community.
  • The speaker mentions that there are changes outside of the scope of the original proposal and that another proposal should have been made for those changes.
  • The speaker refers to an example website released by Meditance on May 29th which shows their conversion platform.
  • The speaker mentions that there hasn't been much communication from Meditance and they seem to be behind schedule.

Improving Multi-Sig Handling

In this section, speakers discuss improving multi-sig handling and best practices for managing multi-sigs.

Best Practices for Managing Multi-Sigs

  • Speakers discuss ways to improve multi-sig handling such as following approaching wallets, asking for updates, verifying addresses, etc.
  • The speakers mention that there is an unspoken rule on how to effectively manage multi-things in Ethereum but Cosmos users may not be familiar with it.
  • Speakers suggest creating guidelines for multi-sigs including best security practices.

MetaTank Response

In this section, speakers talk about MetaTank's response to concerns raised by the community.

MetaTank Response

  • The speaker mentions that MetaTank has posted a response on Commonwealth and encourages everyone to read it.
  • The speaker suggests that there is no need to rush into removing MetaTank but rather seek clarification and understanding of the situation.
  • The speaker invites MetaTank to join the call next time for further discussion.

ERC20 Asset Registration

In this section, speakers discuss questions raised through the pre-proposal red for the ERC20 asset registration of the meme token.

ERC20 Asset Registration

  • Speakers briefly mention questions raised through the pre-proposal red for the ERC20 asset registration of the meme token.

Registering Xen Token at IPC Token

In this section, the speaker mentions a proposal to register Xen token at the IPC token.

Proposal for Registering Xen Token

  • The speaker mentions a proposal or Commonwealth thread to register Xen token at the IPC token.

Initial Thoughts on Project Funding and Risk Management

In this section, the speaker discusses their initial thoughts on project funding and risk management.

Initial Thoughts on Project Funding and Risk Management

  • The speaker is in charge of the project and has requested certain funds. They thought it was best to minimize the risk of running out of funding to ensure product delivery.
  • After conversations with others, they understand the risks involved. It was a decision made as a leader.

Apology for Late Delivery

In this section, the speaker apologizes for late delivery.

Apology for Late Delivery

  • The speaker apologizes for being late with delivery.
  • They explain that they had initially modeled their proposal around creating a conversion platform but later decided to make it more user-friendly by decreasing friction and making it easier for people to operate and navigate without spending gas. This took extra time but was necessary.

Communication Issues

In this section, communication issues are discussed.

Communication Issues

  • The speaker acknowledges that there were communication issues on their side that left room for improvement.
  • They mention that they never received any messages or comments about issues from the community before the request to return funding.
  • The speaker compares the situation to being told to pack up and leave without a performance improvement plan.
  • Another person mentions that while communication was an issue, it's also important to give updates when there are delays in delivery.

Moving Forward

In this section, the speaker talks about the importance of communication and moving forward with the project. They express their willingness to accept whatever decision the community makes.

Importance of Communication

  • The speaker emphasizes that communication is key to moving forward.
  • They mention that slow progress is okay as long as there is transparency and constant updates.
  • The speaker believes that if they had known about issues earlier, they could have done their best to improve and make things better.

Learning from Mistakes

  • The speaker acknowledges that there were misunderstandings and delays in the project.
  • They express a desire to take this as a learning point and figure out best practices for future projects.
  • The speaker mentions that not everything is set in stone yet, as the project is still new.

Lack of Communication

  • Another participant in the conversation expresses disappointment at the lack of communication from the multi-sig team.
  • They mention having contacted them privately for updates on behalf of other people in the community.
  • The participant was surprised to find out later on that some things weren't being done correctly.

Overall, this section highlights how important communication is when working on a project together. It also shows how delays and misunderstandings can occur without proper communication.

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Pivoting Away from The Meta Tank

In this section, the speaker discusses whether they are pivoting away from The Meta tank.

Pivoting Away from The Meta Tank

  • The speaker is asked if they are pivoting completely away from The Meta tank.
  • They confirm that they are indeed pivoting away from it.
  • No further information is provided on why they are making this pivot or what their new focus will be.