Proposal #115

Fix IBC transfers between Lum Network and Osmosis

Exec Legacy Content
passed
Expected result
Rejected
Turnout / Quorum
19.82% / 20.00%

Voting period

Voting ended100.0%
Voting start 2021.12.31 at 15:58:26
Voting end 2022.01.03 at 15:58:26

Vote distribution

99.23%
40 764 540 osmo
Yes
0.08%
34 477 osmo
No
0.00%
1 605 osmo
Veto
0.68%
279 269 osmo
Abstain

Details

logo
Proposer
-
Total deposit
500 osmo
Submit time
2021.12.31 at 15:51:08
Deposit end time
2022.01.14 at 15:51:08

Description

Follow-up on proposal #111 which was rejected on purpose, read the details below for more information.

Proposal goal:

This proposal will enable the unfreezing process of the IBC channel between Osmosis and Lum Network, thus allowing deposits and withdrawals of $LUM on the Osmosis platform:

  • By voting YES, OSMO stakers voice their support in unfreezing the IBC channel between Osmosis and Lum Network
  • By voting NO, OSMO stakers voice their dissent in unfreezing the IBC channel between Osmosis and Lum Network

This proposal has no effect beside enabling back the IBC connection between the two chains.

Details:

The IBC connection between Osmosis and the Lum Network was shutdown during the $LUM Liquidity Bootstrapping Phase in order to have a proper price discovery without external interferences.

Shutting down the IBC connection froze the currently use channel (3-115). Meaning that no IBC transfer can be made using this channel unless this governance proposal is voted YES by OSMO stakers.

The process to enable IBC transfers back require to substitute the current IBC client by a new one that is not in an expired state.

This proposal is a follow-up on the proposal #111 which was rejected on purpose since it raised technical concerns. Indeed, this process had not been tested properly in production prior to proposal #111 and Lum team along Osmosis team agreed to provide a better testing background prior to asking everyone to vote YES to this proposal.

Tests have now been performed succesfully and we are confident this proposal will not have undesired side effects! The following repository contains a full test suite representing what will happen once this proposal is voted YES: https://github.com/lum-network/ibc-testbed

The Lum Team also wrote a mega-thread on Twitter detailing everything that happened since its main-net launch in order to give more colour to the discussion and debate around this IBC issue: https://twitter.com/lum_network/status/1475261081333477378

Votes

Voter
Answer