Send ampOSMO and boneOSMO liquidity to custodial multisig

Proposal Discussion
1

A commonly raised concern during the SAIL clawback was the reliability and longevity of competing LST liquidity on Osmosis.

To increase the confidence in the perpetuity of this liquidity, this proposal would transfer this liquidity to a multisig for holding rather than retaining it in the community pool.

Multisig address: osmo1xdeaq4hhnalna5knp6w2g888q8hw3lemvu5847h97x6s0y2adrysv92ygu

This address is a 3/5 multisig composed of:

  • JGnft (Backbone Labs)
  • 0xPhillip (Eris Protocol)
  • Johnny Wyles (Osmosis Foundation)
  • Omniflix (Validator)
  • NosNode (Validator)

This liquidity would be held for at least 6 months or until it comprises the community pool’s only OSMO liquid stake holding above the equivalent redemption rate, whichever is longer.

Target Onchain Date: 5th August 2024

7 Likes
2

Backbone Labs and the Mad Scientists thank the OSMOSIS team for facilitating this position as we continue to develop the IP and onboarding new users.

:pirate_flag::fist:t2:

4 Likes
3

LGTM.
we need reputable (and visible) people protecting our liquidity

3 Likes
4

This seems a wise move given the current climate. The multisig is a balanced team of reputable community leaders across osmosis and partners. Agree with the proposal.

2 Likes
5

This move seems entirely reasonable to me.

By voting for this proposal, we can increase the security of the community’s LST liquidity.

The proposed multisig members are all well-known leaders within the Osmosis community and beyond, and even represent competing LST providers.

This is a strong, community-oriented proposal.

2 Likes
6

I’m happy that the Osmosis Foundation is putting up this proposal. Even though the chain is “decentralized” validators who obviously have a vested and financial interest, can vote in a very centralized manner.

1 Like
7

I feel like the wording is for insiders, cause I didn’t understand sh1t :sweat_smile:
Can you rephrase?! Why is it better to put the tokens in a 3 of 5 multisig instead of the decentralized liquidity pool?! How can we trust you are going to just hold, and not change your mind whenever opportunities arise?

8

bOSMO and ampOSMO communities believe that this is exactly the reason why it shouldn’t be held in the Osmosis community pool due to a perceived bias towards Stride liquid staking.

The members selected are, therefore, two members of those same communities who have an interest in maintaining this liquidity, as well as two validators who are neither Governors on Stride, recipients of stDYDX delegations, or recipients of ampOSMO or bOSMO delegations to minimize any bias that may exist.

9

Congratz of finding a group of people willing to be part of this group without having a perceived interest due to a link with Stride. For me this is a go. Multiple of these players I know and are known to do the best they can to take the best choice at hand at that moment.

Also good that the positions of ampOSMO and boneOSMO can still be managed, which is a lot harder when being positioned in the CP.

10

Just don’t forget to kiss stride ring or this prop won’t pass!!!

Sorry, but i won’t ever will be able to forget or forgive what happened!
I invested in sail… Time and Money!
Lucky i only owned 25k osmo…

11

This already passed over the weekend with no contention