Yesterday Cosmos founder @jaekwon published a lengthy article explaining his opposition to Cosmos governance proposal 69 and the details of the upcoming #Gnoland airdrop for $ATOM holders, which I've summarised as a Q&A below 🧵
I've explained Jae's and the minimalist hub philosophy in this previous thread. Note that this is not an endorsement of the "No" vote as I personally haven't made my mind yet
https://twitter.com/ThyBorg_/status/1520357302817107968
If you want to learn more about Gnoland first, I also wrote this thread after Jae's last interview
https://twitter.com/ThyBorg_/status/1515790616319438860
So who is the airdrop for?
$ATOM holders and stakers that will ignore, abstain or reject governance proposal 69. In other words, anyone who doesn't vote yes to the implementation of CosmWasm on the Cosmos Hub
$ATOM holders and stakers that will ignore, abstain or reject governance proposal 69. In other words, anyone who doesn't vote yes to the implementation of CosmWasm on the Cosmos Hub
Are the coins on other Cosmos chains included?
Yes, $ATOM coins on #Osmosis, #Juno, #Sifchain etc. qualify for the snapshot, including those in liquidity pools. However Jae mentioned the distribution of the airdropped $GNOT might take longer for these coins than for the Hub
Yes, $ATOM coins on #Osmosis, #Juno, #Sifchain etc. qualify for the snapshot, including those in liquidity pools. However Jae mentioned the distribution of the airdropped $GNOT might take longer for these coins than for the Hub
How do I get the most $GNOT possible?
You would have to stake your $ATOM and use it to vote "No with Veto" to the governance proposal. You will get slightly less if you vote "No", even less if you vote "Abstain", and probably significantly less if you don't stake & vote at all
You would have to stake your $ATOM and use it to vote "No with Veto" to the governance proposal. You will get slightly less if you vote "No", even less if you vote "Abstain", and probably significantly less if you don't stake & vote at all
When is the snapshot?
On 19-May-2022. Jae picked the date because it is 21 days after the beginning of proposal 69, which makes it a lot easier to track the vote in the snapshot as the coins are still unbonding
On 19-May-2022. Jae picked the date because it is 21 days after the beginning of proposal 69, which makes it a lot easier to track the vote in the snapshot as the coins are still unbonding
What is the $GNOT distribution?
Not a lot of details, but it seems most of the supply will go to the $ATOM community and Gnoland's future DAOs. Jae himself might keep around 20% of the total supply
Not a lot of details, but it seems most of the supply will go to the $ATOM community and Gnoland's future DAOs. Jae himself might keep around 20% of the total supply
Will Gnoland exit the Cosmos?
Only if the proposal passes. In that case, I assume Gnoland will start his own Hub. If the proposal is rejected, then Gnoland will simply be connected to it the Cosmos Hub via IBC like any other Cosmos chain
Only if the proposal passes. In that case, I assume Gnoland will start his own Hub. If the proposal is rejected, then Gnoland will simply be connected to it the Cosmos Hub via IBC like any other Cosmos chain
You can find the original post here
github.com/gnolang/gno/bl…
github.com/gnolang/gno/bl…
And that's it for the airdrop. I'm planning to cover the "Yes" side of Prop69 shortly, as well as the rest of the #Cosmos ecosystem afterwards. I write educative & digestible threads on airdrops, tokens, teams & projects, so you may consider giving me a follow @ThyBorg_ ✌️
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