cosmos

Prop 787: Formally request full financial transparency from the Interchain Foundation

The interchain foundation is a Swiss foundation created to manage the assets in the fundraise process described here:

https://github.com/cosmos/fundraiser

  • The ICF (Interchain Foundation, hereafter "the foundation" or "the ICF") has not issued any reporting to the Cosmos community on its activities in nearly two years.

  • Numerous current and former, ICF funded teams have come to Notional to voice distress. They fear retaliation if they speak out.

  • Teams applying for grant funding have informed Notional that grant funding is not open to non-incumbent teams.

  • Notional has been informed by the the Interchain Foundation that grant funding is not open to non-incumbent teams.

  • The interchain foundation owns around 10% of the total supply of ATOM.

Vote Options

vote YES to formally request full transparency from the interchain foundation

vote NO to formally allow the interchain foundation to continue to operate in complete financial opacity - if a no succeeds on this proposal, the foundation is released form the responsibility to make financial reports to the cosmos hub community.

vote NO WITH VETO - A 'NoWithVeto' vote indicates a proposal either (1) is deemed to be spam, i.e., irrelevant to Cosmos Hub, (2) disproportionately infringes on minority interests, or (3) violates or encourages violation of the rules of engagement as currently set out by Cosmos Hub governance. If the number of 'NoWithVeto' votes is greater than a third of total votes, the proposal is rejected and the deposits are burned.

vote ABSTAIN if you wish to contribute to the quorum but formally decline to vote either for or against the proposal.