The Cosmos ecosystem faced the challenge of deploying ATOM from the community pool into Stride for liquid staking without relying on multi-signature (multi-sig) processes. To address this, AADAO has awarded a grant of $131,891 to create software for a trustless deployment of ATOM into Stride, converting it to $stATOM and returning it to the community pool. This grant also included deploying $ATOM into $ATOM/$stATOM liquidity pools on Astroport, built on Neutron.
This grant aims to facilitate more trustless $ATOM liquidity deployment, eliminating the need for multi-signature processes. As well as lay the foundation for Timewave Covenant V2, providing broader liquidity solutions, by establishing a system that reduces the friction of multi-sig and enables trustless deployment of $ATOM Protocol-Owned Liquidity (PoL). Timewave’s Covenant V2 expanded the task to be utilized more broadly than just the ATOM-stATOM integration on Astroport.
Update: This grant was discontinued due to challenges in making the user experience as frictionless as intended. Additionally, Timewave’s Covenant V2 expanded the task to be utilized more broadly than just the specific ATOM-stATOM integration on Astroport. Consequently, the project was scrapped and rescoped into a new grant to better address these broader needs.
