Osmosis community spend proposal HackAtom VI

HackAtom VI, the biggest Hackatom in Cosmos history, concluded on 8 Dec 2021. According to the Osmosis signal proposal no.63/ 06.11.2021, the Osmosis community agreed to register Osmosis as one of the HackAtom sponsor participants, which allowed the Osmosis community to propose a hackathon challenge in one of the existing HackAtom categories. This sponsorship allocated a total prize budget of 50,000 USD in $ATOM to be paid from the Osmosis Community Pool to the Osmosis winners. Here are the winners of the Osmosis challenge: First place in amount of $35,000 in $ATOM: Osmosis (Semi-) Auto Compound by Manuel Richter: The winning prize went to the Osmosis (Semi-) Auto Compound project that automates Osmosis pool compounding as much as possible, opting to implement a semi-automatic wizard seamlessly into the Osmosis UI. Visit DevPost for more details. 2nd Place in the amount of $15,000 in $ATOM: Classic Trading by Ping Ping, Ding Yi, and Edward Gunawan: The second prize went to this CEX-like dashboard for Osmosis. This project offers a classic trading interface as an alternative way for users to swap on Osmosis, just like on other traditional exchanges. This project comes complete with price charts for all trading pairs and users can explore different charts without changing views. Visit DevPost for more details.

All in Bits Inc (DBA Tendermint Inc), as the organizer of the HackAtom VI event, is responsible for the distribution of the prizes to the aforementioned winners. According to HackAtom Rules, All in Bits Inc (DBA Tendermint Inc) will be using the Close Rate of Dec 16th, 2021 (the spot rate as of Dec 16, 2021 at 23:59:59pm) on CoinMarketCap to determine the equivalent number of Atoms representing the value of the prize in US Dollars (“ATOM Equivalent”) that needs to be paid to each winners. The closing price at Dec 16, 2021, 23:59:59pm was of $21.75 = 1 Atom. As the funds for paying the Osmosis HackAtom winners are coming from the Osmosis community pool, the equivalent of $OSMO tokens on the Date of Dec 16th, needs to be calculated and paid to the winners. On Dec 16th, the closing price of the $OSMO token as per Coinmarketcap historical data was of $4.18, which accounts for the payment of equivalent 11,962 $OSMO tokens.

All in Bits Inc (DBA Tendermint Inc), as the organizer responsible for distributing and paying the prizes amongst the HackAtom VI - Osmosis Challenge winners, shall receive transfer of the funds for payment in $OSMO tokens at the following wallet address: osmo18ae7p2q7e79cdgv7y2zvq5txlnnwscjls6axyc

A vote YES to this proposal, will send 11,962 $OSMO from the Osmosis community pool to All in Bits Inc (DBA Tendermint Inc) $OSMO wallet, for All in Bits Inc (DBA Tendermint Inc) to further use these allocated funds to pay the winners of the HackAtom VI- Osmosis challenge. A vote NO to this proposal, will signal that the community disagrees on sending the funds to All in Bits Inc (DBA Tendermint Inc) to pay the HackAtom VI- Osmosis challenge winners.