blockworks.co
Community members from the Cosmos Hub are looking to provide grants to researchers who are interested in helping the team revamp the blockchain’s native ATOM token.
An earlier governance vote had turned down a proposal, dubbed ATOM 2.0, to revamp the ATOM tokenomics, citing that there had been a lack of clarity and that the proposal itself had been too broad.
But, the Cosmos community has not yet given up on the idea of creating an enhanced ATOM token, launching the ATOM Accelerator decentralized autonomous organization (AADAO) earlier this year.
The purpose of the AADAO was to build a support community through grants that would enable contributors to participate in initiatives that would create value for ATOM token holders.
One of its first projects is to determine a vision for the Cosmos Hub and ATOM itself. AADAO has launched an initiative to reward three research teams with $30,000 each to draft a plan.
Each of these visions will be discussed with the community and potentially incorporated into one or more formal governance proposals, a blog post highlighting the details of the initiative said.
“We want to favor a bottom-up approach to make the entire process as organic and community-driven as possible,” AADAO said in the blog post.
Grant recipients will have 45 days to publish their research on the Cosmos Hub discussion forum. Each research team would be required to publish the ideas separately, and it would be up to the community to provide feedback on the proposals.
It is possible that there will be more than one proposal that ends up on-chain for voting, in which case the proposal that passes a quorum threshold and receives the most votes will be executed, AADAO said.
“The last phase of the process is selecting and funding one or multiple teams to contribute to the implementation roadmap,” it said. “The teams interested in making the vision a reality can also apply to win grant funds from AADAO.”
Applications for grants started on April 4 and will close in exactly a month, on May 4. Grant recipients are expected to be announced on May 15, and proposals are expected to land on the Cosmos Hub between June 30 and July 7. A winning proposal will be determined by Aug. 31.