Summary:

This proposal seeks to rebalance the assets included in the Cosmos Core portfolio by swapping $JUNO, the Juno Network’s governance token, to the Akash Network token; $AKT.

Motivation:

When we launched Cosmos Core, the $JUNO token represented over 20% of $COSC collateral. A percentage that has dwindled over the time due to $JUNO’s negative price action against other collateral assets backing $COSC. At the time of writing, $JUNO represents less than 4%. And while a drop in $JUNO’s value, just like any other volatile asset, shouldn’t be a concern in itself. However in this case we believe that this dip is a direct consequence of the recent conflicts within the Juno community and the absence of a clear roadmap for the future of the project. On the other hand, our conviction on the Akash Network, a project that was on our radar for a long time has only increased. As a decentralized marketplace for computing resources, Akash has a clear product-market fit with a token perfectly positioned to capture value accrued by the network for its holders. Which is why we are putting forth the proposal of swapping all $JUNO holdings backing $COSC with $AKT for the community to vote on.

Description:

The careful selection of portfolio assets is critical for an optimal Index token. Which is why Cosmos Core will undergo regular portfolio restructuring to properly benchmark the entire ecosystem. The first portfolio restructuring will seek to gain exposure to decentralized compute providers by adding the Akash Network token, $AKT, to the Cosmos Core’s portfolio. Cosmos Core will use its $JUNO holdings to acquire the $AKT tokens. Note: At the time of writing, Cosmos Core has approximately 17.34k staked $JUNO.

If passed, Cosmos Core’s staked $JUNO tokens will be unbonded, then swapped to $AKT on Osmosis DEX. Below you can see the list assets in Cosmos Core’s portfolio before and after the proposed change:

Old Portfolio

• Cosmos Hub - $ATOM
• Osmosis - $OSMO
• Kujira - $KUJI
• Stargaze - $STARS
• Ki Chain - $XKI
• Juno - $JUNO
• Agoric - $BLD

New Portfolio

• Cosmos Hub - $ATOM
• Osmosis - $OSMO
• Kujira - $KUJI
• Stargaze - $STARS
• Ki Chain - $XKI
• Akash - $AKT
• Agoric - $BLD

By voting YES to this proposal you agree to adding $AKT to Cosmos Core’s portfolio by liquidating its $JUNO holdings. By voting NO to this proposal you do not agree to adding $AKT to Cosmos Core’s portfolio by liquidating its $JUNO holdings. By voting No With Veto you deem this proposal harmful to Cosmos Core. By voting abstain you signal your desire to contribute to quorum without a preference toward whether the proposal passes or fails.