The Need for ‘Cosmos Foundation’
Lately, in every X thread, spaces, or other forums, people are enchanted with the idea of DAO. For those who are distant from virtual reality (and close to reality), the meaning of DAO is Decentralized Autonomous Organization. This means that a DAO is an organization governed by rules encoded in blockchain-based smart contracts, allowing decentralized and transparent decision-making. In simple words, a group of people makes decisions based on certain parameters. This blog isn’t about DAOs or their potential pitfalls (comment if you’d like to know why they might be problematic), but rather about the necessity of a foundation for Cosmos.
What is Cosmos?
Let us start from the point of singularity. Cosmos is an ecosystem of sovereign app chains that are interoperable (not always, but mostly). Compared to other ecosystems like Ethereum, Cosmos prides itself on being a sovereign and interoperable universe.
Unlike many counterparts (for example, Ethereum Foundation, Web3 Foundation, etc.), Cosmos doesn’t really have a centralized foundation. Why? This intricate tale warrants its own article. For now, let’s focus on why a Cosmos Foundation is essential.
Is there an equivalent institution in Cosmos? It’s a mixed bag. The ICF (Interchain Chain Foundation) was established with the singular goal of ensuring Cosmos thrives. Unfortunately, it has largely faltered, not due to incompetence (I’m treading lightly here), but owing to myriad external influences. Thus, the call for a dedicated Cosmos Foundation is paramount.
In the existing landscape, various individuals have taken the initiative to bridge the chasm left by the absence of a foundation, such as disbursing grants. In my perspective (which you’re welcome to challenge), such pivotal decisions shouldn’t rest solely with ad-hoc committees. At a minimum, there should be an overseeing body ensuring accountability and transparency. A suitable alternative? I suggest a governance system inspired by Kleros to maintain checks and balances (chime in if you’d like an in-depth exploration of this).
Need for Cosmos Foundation
Here is a history lesson for my archaeologically enthusiastic friends:
France: Abrupt Transition
The French Revolution (1789–1799) was a radical and often violent period that saw the end of the Bourbon monarchy and the rise of radical political groups. The revolution was characterized by extreme political and social upheaval, leading to the Reign of Terror and the eventual rise of Napoleon Bonaparte as Emperor.
**Consequences**: The abrupt change resulted in political instability, economic hardships, and significant bloodshed. While it did pave the way for some democratic principles, the path was tumultuous and unpredictable.
Britain: Gradual Transition
Over several centuries, Britain’s political system gradually evolved with the monarchy ceding power to the elected Parliament. This process was marked by events like the Magna Carta (1215), the English Civil War (1642–1651), the Glorious Revolution (1688), and the passing of various Acts of Parliament.
**Consequences**: This gradual transfer of power ensured relative stability, continuity, and the eventual establishment of a constitutional monarchy where the monarch’s powers are largely symbolic, and the real political power resides with the Parliament.
This historical exposition isn’t to belittle DAOs or democracy but to emphasize the virtue of patience. Precipitous changes can exacerbate situations, as seen in the French Revolution.
Drawing a historical parallel, the transition from monarchy to democracy in France was abrupt, leading to years of turmoil, while in Britain it was a measured, gradual shift ensuring stability. Similarly, while the idea of DAO-ifying the Cosmos might seem appealing, we must ask if our community is mature enough for such an abrupt shift. A gradual transition, ensuring checks and balances, might be the wiser route. Let’s prioritize stability and thoughtful progress.
My proposition? A Cosmos Foundation rooted in a singular vision — its eventual dissolution. Though ostensibly centralized, this foundation should strive to diminish its influence. Not abruptly, as some might clamor for, but methodically through a well-charted course.
I’ve conceptualized an exhaustive blueprint for the foundation’s objectives and modus operandi. If your curiosity is piqued, don’t hesitate to inquire further.
Every time someone asks where to go for technological help, or financial help, people have no idea. I think the Cosmos Foundation can solve the problem.
Perhaps achieving consensus for a unified Cosmos Foundation remains elusive, especially among the influential stalwarts fearing a dilution of their clout. Then we can at least agree on dividing roles. Thus, we can continue with having many contributors as we have, but with some governance entity that keeps everyone in check. If you are interested, I can build a governance model based on the principle of democracy, while keeping a balance of how much power is given up.