Osmosis Co-Founder Sunny Aggarwal spoke with Design DAO on YouTube recently about Mesh Security, governance, and security.
“There’s no reason to airdrop to Osmo anymore,” Aggarwal said. “What a new chain should just do is do Mesh Security with Osmo and give staking rewards to Osmo. The other chain gets something out of it as well. It gets security.”
Aggarwal rattles off reasons why he is optimistic about Mesh Security, saying it allows chains to secure each other and that a “shift from a culture of competition into a culture of collaboration” will probably happen because of it.
“In my opinion, staking in Cosmos needs to go down across the board,” Aggarwal said when asked what he thought staking APRs would look like in the future.
Design Dao said Osmosis was “habit forming” for him and around 6 p.m. he would claim rewards and compound it back into liquidity pools. He goes on to compare the Osmosis epoch with Mesh Security, saying that it could drive people to be active with staking on secured chains.
“We noticed people coming back to Osmosis and have gotten really good feedback from them, and one of the things we are working on is notifications,” Aggarwal said. “That’s an important thing to keep people engaged and coming back to the project on a daily basis.”
The Osmosis Lead said notifications could take shape in the form of new asset alerts, new feature launches, APR yield opportunities, and a new Osmosis App Store currently under development. Aggarwal said he wants to see Osmosis as a notification hub where users can discover new apps built on Osmosis. He said Osmosis is working with Notifi Network for notifications.
Design Dao asked what would happen when it comes to governance on Mesh secured chains, would he be able to vote his Osmosis tokens on Akash? Aggarwal thinks most chains will want to keep control over voting because they would want to maintain full governance rights. He said they are working on ways to utilize community pool funds to give mesh security provider stakers the ability to vote on other chains, which some chains might want. He said Mars might want to give Osmosis voting power because they are closely correlated.
Speaking more about governance, Aggarwal made a point that he helped build the current Cosmos governance module hastily five years ago and thinks appchains should be creating new unique forms of governance. He said Osmosis is working on that now. He spoke about Expedited Proposals as an example of something new that “no one else has.” Under Expedited Proposals –an emergency measure– a vote can be pushed through in 24 hours if two-thirds of staked tokens vote yes.
The duo talked about validators and decentralization, how to get smaller validators into the active set, and a potential concierge service that would help lower ranked validators grow.
In the closing moments of the interview, Aggarwal mentions he wants to bring Ethereum security and Bitcoin security into the Cosmos and is working towards that goal. He said he thinks “Mesh Security will make things more resilient” and said the Terra incident burned Cosmos because “we put all our trust in one security mechanism and we don’t want to do that again.”
