Zug, Switzerland, December 17, 2024, Chainwire
Atom Accelerator (AADAO), the Cosmos Hub governance-mandated DAO, announced $250,000 in funding to Confio for the continued development and maintenance of CosmWasm through 2025. The funding will be matched by Neutron, Cosmos' integrated application network. Another $250,000.
Developed by Confio since 2020, CosmWasm powers the smart contract capabilities of nearly 100 chains and enables developers to create decentralized applications (dApps) that work seamlessly across chains. Over the past 12 months, contracts built using CosmWasm within the Cosmos ecosystem have generated over $5.7 million in fees. Despite its widespread adoption, the main funder of Cosmwasm's development and maintenance so far has been the Interchain Foundation. Due to the reorganization of the Interchain Foundation (ICF), Confio's funding for 2025 has been significantly reduced.
“CosmWasm is a critical resource for the Cosmos ecosystem, powering many applications and chains that bring value to interchains,” said AADAO contributors. “This proposal represents a collaborative effort to ensure its longevity and continued impact.” This gift will raise approximately $2 million needed to maintain and develop CosmWasm in 2025. It forms the basis of the CosmWasm Coalition initiative, which aims to This funding will enable Confio's team to continue working. It provides important features such as security investigation and incident response, feature development and performance optimization, documentation and developer support, SDK compatibility maintenance, testing and developer experience (DevX) tools. Improvement. This effort builds on Cosmos Hub's previous CosmWasm support, including a successful allocation of $1.25 million under Proposal #103 in March 2023.
Cosmos Hub relies on CosmWasm for permissioned smart contract functionality, so ongoing maintenance is essential for the operation and future upgrades of the hub. Many consumer chains leveraging the hub's interchain security have built their infrastructure on CosmWasm, making this framework essential to maintaining and expanding the ecosystem. By committing to early funding, Cosmos Hub can prioritize the technical needs of itself and the consumer chain in Confio's development roadmap.
By taking the first step in funding, AADAO and Neutron ensure that their efforts will encourage further contributions from other ecosystem players and ensure financial stability for CosmWasm and the broader interchain ecosystem. I'm looking forward to it.
About Atom Accelerator DAO (AADAO)
Atom Accelerator DAO (AADAO) is a governance-mandated DAO in Cosmos Hub. They are established and mandated to advance the values of the Cosmos Hub and ATOM and support value-creating initiatives that directly generate economic impact or drive growth. Because of this, their current main mission is public subsidies and venture subsidies.
Atom Accelerator's venture arm strategically invests in promising early-stage Web3 founders and startups within and outside the Cosmos Hub ecosystem. As experts within the Cosmos ecosystem, Atom Accelerator provides expertise, guidance, and support while driving value for ATOM.
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Contact Marketing & Communication Lead Mr. TAtom Accelerator DAOpress@atomaccelerator.com
This article was originally published on Chainwire
