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.
Best part is we've done most of the work already. With minimal ICS the simple-transfer-zones are already more or less done. We're 90% done with massive scale MVP, and after that scaling will be relatively easy. AND this ATOM1 hub is a minimal hub that zones will want to use.
Don't lose focus.
The product market fit is already there. It's simple, and we are already positioned for it. It is neutral to apps like gno.land and it is, as IBM's CEO once said, the secret cash cow of IBC -- transaction processing. The whole IBM/VISA/FED system is SECRET CASHCOW.
Someone can find the years old interview where this was admitted. IBM's whole mainframe business was about transaction processing. We sell blockchain transaction processing. Simple as.
That's why we were in discussions with IBM before, and why IBM got into the Hyperledger space. But they didn't want to give up the power of tx processing to the people like Tendermint did. So thankfully we didn't sell out, and we made Cosmos instead. Mainframe=FT, Tendermint=BFT.
Cosmos is the VISA network built upon this decentralized BFT mainframe system. Always was, and should remain.
New functionality can always be permissionlessly added on top of this base ATOM1 framework. The gno.land prop69 #exitdrop is a demonstration of value-add to the Cosmos Hub, as it will provide Gnolang smart contracts while IBC pegging to the Cosmos Hub for tokens.
Using ICS, it should be possible to run new Gnolang VM powered zones secured by the Cosmos Hub, but also IBC connected to the gno.land chain for importing logic hosted on the Gno.land "github" (and paying gas fees & license fees to each).
I'm not against all the ideas of ATOM2. Some ideas are genuinely interesting. I just think we should do it on ATOM1, and use PHOTONs. That is, ATOM2 -> PHOTON1.
I do see the "monification" of ATOM as per ATOM2.0 to be fundamentally flawed, for a chain whose main selling point is SECURITY. I believe ETH2.0 with its ETH staking is similarly flawed.
In biology, it's the difference between Eukaryotic (cell nucleus) and Procaryotic (no nucleus) cells. Evolution has proven that multicellular (inter-cellular) systems like us are generally Eukaryotic. They both exist, but complexity demands more intracellular security.
If we have a one time burn of ATOM -> PHOTON instead of a fork, then I suppose it would even be a deflationary event. And it would be a good chance to allocate PHOTONs for treasury. Win win? @zmanian

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More from @jaekwon

Oct 10
Still ATOM ONE. Few are actually discussing the fundamental points here: forum.cosmos.network/t/atom-one-con…
That the ICF is coordinating a ludicrous treasury allocation when it already has the funds to complete all development, despite its for-cosmos mandate, is indicative.
Doesn’t even give credit to Osmosis for ABCI++, takes credit for OpenDID knowing that AIB did first, larps as Tendermint. The hub would do better to slash the ICF and move those funds to the community pool. Problem solved.
Read 4 tweets
Oct 3
My understanding of ATOM2.0 after a brief convo with @buchmanster was this: that the inflation's 7% minimum bound would be removed, but that otherwise the 2/3 bonding ratio would be preserved. What I'm seeing here is WILDLY different. Inflation should stay below the dotted line.
2/3 of inflation, in the first year 70M going to treasury is honestly ludicrous. We barely have an accountable/transparent ICF with a fraction of 2/3 x 70M in its treasury, let alone good DAO tooling for public funds management.
Treasury DAO should have some requirements: it should be funded solely through the 2% tax (or by increasing that tax, or by donation). It should experimentally support multiple DAO frameworks built on various systems (inc. SDK/WASM/GNO based systems) over next 2 years.
Read 10 tweets
May 25
The largest individual funder of the WHO was Bill Gates, funding it on the order of nations like the US and China. DuckDuckGo shares your data with Microsoft. Microsoft has the 060606 blockchain patent for this. MonkeyPox is happening now on queue as planned by them last year.
If it isn’t obvious, yes, they will eventually force you to have a mark on your hand or forehead. Why? Because it’s part of “the plan”. In the original writing of the revelations, a “mark” is a “spear”, a needle prick. Why? See the Georgia Guidestones commandment number 1.
The good news is, the logical consequence of this globalist takeover plan is their utter failure, and the rising of the people against those who have been coordinating this. It has always been a multi level trap.
Read 5 tweets
May 20
1/10 Hello fellow Gnomes,

The snapshot time has passed; it is now 5/20/2022 and the snapshot was at 5/20/2022 8am PDT. The block number we will go with is #10562840
2/10 As you know, Proposal 69 has failed with overwhelming majority.

YES: 13.77%
NO: 63.75%
NO WITH VETO: 16.37%
ABSTAIN: 6.11%

NO+NWV: over 80%.
3/10 A total of 90,074 votes have been cast on the Cosmos Hub. In terms of the number of voters, there were over twice as many NO WITH VETO voters as there are YES voters. It seems that the delegators voted better than the validators.
Read 11 tweets
Oct 10, 2021
PSA: Please don't get the mark just to travel, esp not for a conference.
It is insane to mandate the mark to children; the undertakers (see John Olooney) are afraid to tell you that they see more vaccine deaths; the hospitals won't tell you that they get paid $50k per covid death; the IFR is IMO greatly exaggerated. This is about control.
They have managed to start firing all police, military, and nurses who have not received the jab. The senators have been getting ivermectin and won't say it aloud. Things are about to accelerate. I support the SouthWest workers who have walked, and the military who have stayed.
Read 4 tweets

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