Quasar Whitelisted Address for Deployment of Concentrated Liquidity Vaults
This proposal grants the address osmo1ed6ezqx9t4e9sfm6nfgulq3005umrh6hkclagk the ability to upload CosmWasm contracts to Osmosis without needing further governance approval for each upload. This address is a multisig managed by the Quasar Association, incorporated in Switzerland and currently the owner of the QSR/OSMO pool.
Quasar’s contracts are being audited by Halborn once a month and will use cw-vault-standard.
Quasar has been pioneering IBC-enabled CW contracts and was able to launch the first in-production use case of ICA & ICQ following the approval of Osmosis Prop #466 (thanks <3). However, these Osmosis LP vaults don’t need to be deployed on Osmosis, so there was never a need to upload a contract locally. The IBC-enabled vaults are entirely on Quasar and execute the on-chain strategy purely using IBC.
With the launch of concentrated liquidity, however, we need to opt for an Outpost model, meaning local deployments of vaults on chains such as Osmosis, in order to create best-in-class strategies.
This address will be deploying multiple CL vaults, with each pool having two strategies: short range (maximize yield, higher volatility for Gamma & IL) and long range (minimize volatility for Gamma & IL, lower yield).
While this proposal grants authority for osmo1ed6ezqx9t4e9sfm6nfgulq3005umrh6hkclagk to upload CosmWasm contracts to Osmosis without independant governance proposals moving forward, governance only signals approval for the contracts to be whitelisted under the Concentrated Liquidity umbrella. This includes only Concentrated Liquidity vaults as they benefit from local deployment and reduced IBC complexity.
Any other vaults will continue using Quasar’s existing infrastructure or we will propose a new governance process. Given the number of vaults we intend to upload is high, this proposal will ensure users can use our CL vaults as soon as possible.
Quasar is building the primary asset management hub of the Cosmos ecosystem, representing the gateway to yield opportunities. We have co-developed the official ICQ implementation, pioneered IBC-enabled CosmWasm contracts & Interchain vaults. We have our own Cosmos chain and recently launched our native token, $QSR.
We are a global team passionate about improving the Cosmos UX, pushing forward IBC while abstracting it away from the users, and striving to become the premier yield aggregator across all of IBC.
Quasar will continue to guide users into vaults, as they are the right tool for most people (especially in CL). We have been clear in value, incentive, and vision alignment with Osmosis since our inception and will continue to build upon Osmosis contracts to not only offer a different user experience but also elevate yield opportunities beyond what we have done so far.
Target On-Chain Date: July 12th, 2023