Prop 110: Services for a Governed ICS721 (Infrastructure and Operations)

Services for a Governed ICS721 (Infrastructure and Operations)

Full details here: https://commonwealth.im/stargaze/discussion/9539-services-for-a-governed-ics721-infrastructure-and-operations

About Ark Protocol

Our mission is building and providing multi-chain utilities on top of ICS721 for ALL collections and on ALL chains at ANY time. The Inter-Blockchain Communication protocol (IBC) allows Cosmos chains to connect and communicate with each other.

What is ICS721?

For a better understanding what ICS721 means and how it enables multi-chain utilities please read our blog post on "Building Multi-Chain NFT Utilities": https://arkprotocol.substack.com/p/nfts-and-utilities-going-multi-chain

Summary

Ark Protocol's proposal is requesting a one-time funding of 2,000,000 STARS. This funding will cover the cost of services and operating relayer nodes for a minimum of 6 months. We are optimistic about providing ICS721 services for the rest of the year and beyond.

Ark Protocol aims to self-cover all ongoing services through an ICS721 transfer fee. Each NFT being transferred through this governed ICS721 contract will be charged a small fee. Of course, each collection is free to opt-in or opt-out and set up their own ICS721 service and infrastructure.