A draft proposal hit the Cosmos Hub Forum Friday, seeking to secure Duality, an orderbook DEX, with ATOM’s validator set using Interchain Security.
The proposal states Duality is “nearing completion” and has completed two rounds of audits with Informal Systems. Duality plans to launch in early August. There will be no Duality token and ATOM will be the default for fees.
Cosmos news asked if a working demo Cosmo Hub participants could see so they could make an informed decision was available and a forum user named Elijah shared screen shots and had this to say:
“The front-end is currently finishing up testing before being made public. That said, the chain binary is currently live on the ICS testnet so anyone can demo it via their command line. There should be a live front-end connected to our testnet deployment up in the next week or two. This is only a draft post, so everyone will get a chance to use a demo of the front-end before needing to vote on the final proposal. In the next few days we’ll share more, but in the meantime here are some screenshots on what to expect.”
Duality bills itself as a “novel” decentralized exchange because it is taking a different approach by giving all value created to the Cosmos Hub. According to Duality, the entirety of gas fees and maximal extractable value profits (MEV) will go to the Cosmos Hub. Liquidity providers will be getting 100 percent of swap fees as well.
A full list of features Duality aims to provide is in the proposal, such as Dynamic Routing, a way to thwart those seeking to front-run trades. Other features are covered in detail in the proposal.
JOIN THE DRAFT PROPOSAL DISCUSSION
According to the proposal, Duality will seek 500,000 ATOM from the Cosmos Hub community pool in a separate future governance proposal to bootstrap liquidity. This liquidity would be owned by the Cosmos Hub and not the Duality Labs team. A multisig of “trusted hub validators and contributors” will be responsible for “any liquidity released by the Cosmos Hub community pool and also be the sole controller of the Admin module. The Admin module allows for chain halts in the case of an emergency.”
This is a draft proposal meant to get the community’s feedback so ATOM stakers and validators are encouraged to give their input.
