Thread by @billyrennekamp

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) 🧵👇:

https://twitter.com/jaekwon/status/1520162454566621184

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 🗳

What's important to focus on: IF we include CosmWasm on the hub, the trade-off to the added risk is that it will make the development cadence increase and open the avenue for ATOM product development. New applications don't need to be part of Hub Upgrades in order to become live.

Examples of these kinds of applications are Lido liquid staking, DAO DAO Builders DAO for funding more public goods, and most recently I've heard of a well known entity that wants to make a Name Service in CosmWasm 😉

That being said, I AM A FAN OF HUB MINIMALISM (aka put gaia on a diet 🍽). I am also a huge fan of Interchain Security and the similar benefits that come with that technology while allowing the hub to stay minimal.

I just want to be realistic about timelines and a fast paced product roadmap. We either have to wait for Interchain Security for ATOM ⚛️ business development to happen, or open up a second avenue: CosmWasm.

I recognize that this comes with RISK and it should be well debated! BUT please recognize that if CosmWasm on the hub is voted down, there will be few significant products shipped until Interchain Security is live.

If ATOM ⚛️ holders are OK with moving SLOW 🚶‍♂️ and SAFE ⚠️ please vote NO. If ATOM ⚛️ holders want development to move faster 🐎 please vote YES. If you plan to #EXITDROP 💀 as @jaekwon encourages should the proposal pass, please vote NO-WITH-VETO.

Personally, I'm sick of people saying "devs do something" so I'm ready to open up the pipeline EVEN THOUGH THERE IS RISK. In part I hope I'm wrong because I'd prefer to move slow but want the community to be ON BOARD if that's the case.

Great response from @_vshapovalov of @LidoFinance on the forum! forum.cosmos.network/t/proposal-69-…

Twitter space about Prop 69 right now!
twitter.com/i/spaces/1RDxl…