cosmos

Prop 103: Confio Public Goods Funding - Tranche One

Summary

This is a community spend proposal. If it passes, it will transfer the ATOM equivalent of $1.25M to support the Confio team in their stewardship of CosmWasm, CosmJS, and many other related repos. This is 95 697 ATOM at the current 30-day moving average price.

This is based on a forum discussion about providing a total of $2.5M of support in two tranches to Confio. Confio will most likely apply for a second tranche in August, but the size requested will be adjusted by any other funding we have secured in the meantime, as we are applying for other sources.

Forum Discussion: https://forum.cosmos.network/t/proposal-last-call-2023-02-13-confio-public-goods-funding/9677/2

Full Proposal Text: https://gateway.pinata.cloud/ipfs/QmTYBVYadb4WmhZjq5Vo7hSmFXdxBdcPowVa6nnh1HCMPu

Purpose

Strengthening the ATOM Economic Zone through support and Public Goods.

Confio is the team responsible for the stewardship and development of a huge number of libraries fundamental to many developers in the Cosmos. The best known are the CosmJS & CosmWasm libraries, two key components of the Cosmos software stack, but you can review the list of dozens of repositories Confio maintains. These libraries are highly valued by developers and chains across the Cosmos ecosystem. In addition, they focus on expanding IBC protocols by developing IBC-enabled contracts and training others how to do so as well.

Confio is also prepared to offer some services and support for the success of Cosmos Hub secured consumer chains in exchange for such funding support. This will be defined more below, but it should be clear that there are also tangible benefits for the Cosmos Hub through this proposal. ## Use of Funds Confio currently has a burn rate of circa 230k USD/month with around 90% of outgoing payments going to salaries. All funds from this proposal will go to pay salaries of employees. Principally developers, but also marketing/community building work (for the conference) and internal support (HR / accounting) needed to keep the company running.

Our headcount has been reducing and as of the end of February 2023, we will have 20 employees, including 10 developers and 1 product owner (one more if Ethan gets to code again and stop fundraising). To achieve this roadmap while performing a proper level of security and maintenance work, we will need around 25 people focused on Public Goods.

Spend Details

Amount: 95697 ATOM

Recipient: cosmos12jnhpa3kemykq5mg8er27lmkj39yksgf3nr9tw (Confio GmbH)

Timeframe: 6 months ## Voting

  • If you vote yes you signal your desire to compensate Confio via the Cosmos Hub community pool.
  • If you vote no you signal your dissent against compensating Confio via the Cosmos Hub community pool
  • If you veto this proposal you deem it harmful to the network and wish to burn the proposer's ATOM.
  • If you abstain you signal your desire to contribute to quorum without a preference toward whether the proposal passes or fails.