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Draft of ATOM ONE constitution: github.com/tendermint/ato… ; Call for contributions (by PR and issues); Disclaimer, I only worked on this for 3 hours, this is very rough. It's a good time to contribute. @cosmos #cosmoshub
@cosmos The notion that ATOM is a "memecoin" ignores the obvious and original business model for the hub -- token transfer fees. Bitcoin and Ethereum gas transaction fees are in the 10s/100s of millions, and we haven't even gotten to VISA scale yet. ATOM is not money, it's VISA shares.
And FED shares. It's an alternative to the status quo that Bitcoin originally wanted to be, but more. Well, imagine what kind of social manipulation we must be under, to be pursuing such a dream.
I don't think it sets a great precedent for a decentralized protocol founder to resort to vote buying on a chain they abandoned—BUT as Cosmos Hub Product Lead, I'd like to talk about the benefits and drawbacks of Prop 69 (nice) 🧵👇:
We can spend all day talking about how secure CosmWasm is, what the dev resources are behind it, and whether it's SAFE 🔐. This is a good conversation and there are great deeply technical aspects being discussed in the FORUM: forum.cosmos.network/t/proposal-69-…
I would like to stress though, that the vast majority of risks we've seen in CosmWasm are removed by governance voting 🗳
