Zug, Switzerland, December 17, 2024, PakGazette
Atom Accelerator (AADAO), a governance-mandated Cosmos Hub DAO, has announced financial support of $250,000 to Confio for the ongoing development and maintenance of CosmWasm throughout 2025. Neutron, the network of applications built into Cosmos, match this financing with another $250,000 more.
CosmWasm, developed by Confio since 2020, powers smart contract functionality for nearly 100 chains, allowing developers to create decentralized applications (dApps) that operate seamlessly across the chain. In the last 12 months, contracts created with CosmWasm in the Cosmos ecosystem generated more than $5.7 million in fees. Despite its widespread adoption, the Interchain Foundation has so far been the main funder for the development and maintenance of Cosmwasm. Following the organizational restructuring of the Interchain Foundation (ICF), Confio’s funding for 2025 has been drastically reduced.
“CosmWasm is a critical resource for the Cosmos ecosystem, underpinning many of the applications and chains that bring value to the chain,” AADAO contributors said. “This proposal represents a collaborative effort to ensure its longevity and continued impact.”
Contributions form the basis of the CosmWasm Coalition initiative aimed at raising the approximately $2 million needed to maintain and develop CosmWasm in 2025. The funds will allow the Confio team to continue fulfilling critical functions, including security investigation and incident response, feature development and performance. optimization, developer documentation and support, maintaining SDK compatibility, and improvements to testing and developer experience (DevX) tools. This initiative builds on Cosmos Hub’s previous support of CosmWasm, including the successful allocation of $1.25 million under Proposal #103 in March 2023.
Cosmos Hub relies on CosmWasm for permissioned smart contract capabilities, making its ongoing maintenance essential for Hub operations and future upgrades. Many consumer chains using the Hub’s Interchain Security have built their infrastructure on CosmWasm, making the framework vital to sustaining and expanding the ecosystem. By committing to early funding, Cosmos Hub ensures priority consideration for its technical needs and those of its consumer chains in Confio’s development roadmap.
By taking the first step to commit funding, AADAO and Neutron hope their initiative will encourage additional contributions from other ecosystem stakeholders, ensuring the financial stability of CosmWasm and the broader cross-chain ecosystem.
About Atomic Accelerator DAO (AADAO)
Atom Accelerator DAO (AADAO) is a governance-enforced Cosmos Hub DAO. They have been trained and are mandated to generate value for Cosmos Hub & ATOM, supporting initiatives that directly create economic impact or produce value that can drive its growth. From this, its current main mandates are public subsidies and risk subsidies.
Atom Accelerator’s venture arm strategically invests in promising early-stage web3 founders and startups, both within and outside the Cosmos Hub ecosystem. As experts within the Cosmos ecosystem, Atom Accelerator offers expertise, guidance and support while driving value towards ATOM.
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