cosmos

Prop 856: Funding the first inscription COSS on Cosmos

Summary

Proposal to request for 20000 ATOM from the community spending pool to funding the first inscription protocol (crc-20) on Cosmos.

Details

COSS（crc-20）is designed to build an inscription system on cosmos. It will integrate trading, minting and a complete set of functions.

Our team believes that in order to improve the ecosystem on cosmos we need to build an inscription system. Since cosmos doesn't support smart contract, it's a perfect fit for an inscription system to be built as a part of the existing ecosystem.

Inscriptions will dramatically increase the utilization of Atom and bring in a lot of extra gas fees, making the cosmos chain assets more diversified. For this reason, after months of work we have created a crc-20 standard and will release the first version of the system in the next few days.

Tasks

  1. Open inscription market, minting function, indexing function, transfer function
  2. Create IBC function for inscriptions so that it can interconnect with other blockchains.
  3. Use the funding provided on other cosmos chains to provide liquidity for inscription tokens.
  4. Achieve complete decentralization of the inscription system and explore the possibility of using inscription in conjunction with ICS.
  5. Explore more possibilities for inscriptions.

50% of the funding will be used to complete the development and maintenance of the above tasks. The other 50% will be used to improve the ecosystem and provide liquidity for the inscription tokens.

Regardless of whether or not the proposal passes, we will do our best to promote the development of the inscription ecosystem at Cosmos.

Forum post link

https://forum.cosmos.network/t/proposal-funding-the-first-inscription-coss-on-cosmos/12317

IPFS pin of proposal on-forum

https://ipfs.io/ipfs/QmTkzDwWqPbnAh5YiV5VwcTLnGdwSNsNTn2aDxdXBFca7D/example#/ipfs/QmZ4NWg9Xy379vU6me4wRTyEjJmHB3BzXWX9opciRsS2gW

Recipient

cosmos1r9759z2qa4yaajk85d95y2kfmhs277uh3efv2a

Amount

20000 ATOM

Governance Votes

The following items summarize the voting options and what it means for this proposal:

YES - You approve this community spend proposal to deposit 20000 ATOM to the team to build the Cosmos inscription.

NO - You disapprove of this community spend proposal in its current form.

NO WITH VETO - You are strongly opposed to this change and will exit the network if passed.

ABSTAIN - You are impartial to the outcome of the proposal.

Website

https://coss.ink

Twitter

https://twitter.com/coss_market