down preparing for Interchain Security launch in January 2023!
💡Over the coming months, we will welcome the first few consumer chains to the Cosmos Hub – all of which will provide valuable services to Cosmos.
🔎Who are they?
👉Let’s dig in! ✨✨
Already launch?
Software proposal for Interchain Security (version one is Replicates Security) is on Cosmos forum for the discussion. Soon the draft proposal will be on chain. https://forum.cosmos.network/t/proposal-draft-v8-rho-upgrade-with-replicated-security/8766
Is there any details/examples on what the economics look like for an application that wants to request an interchain secured chain? Would they pay providers directly in their own token, pay in Atom, stake their chain's token to the providers for yield, etc? Thanks
There has been two governance proposals to be a consumer chain. Details of proposals can be found on Cosmos Forum ; https://forum.cosmos.network/c/hub-proposals/consumer-prop/41
Cool so 792 proposes 25% trx fee share (ATOM/NTRN later USDC for fees), 25% MEV rev share of blockspace auction. 794 would share 15% native LS rewards, 15% staking, 15% mev, 15% trx fees. Super cool stuff, and not something ETH can easily replicate since to do trust minimized IBC requires communicating all header state between chains. Rainbow opted for an optimistic approach, 4 hour unlock but still quite long in the land of arbitrage, cross chain mev, etc. There's eigenlayer but it doesn't seem their core use case is self sovereign chains.
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