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Cosmos Hub's Strategic Funding for CosmWasm Development

Atom Accelerator DAO and Neutron commit $500,000 to support the ongoing development of CosmWasm, ensuring its critical role in the Cosmos ecosystem.
Published on 2024-12-17

Strategic Funding for CosmWasm

Atom Accelerator DAO (AADAO) of the Cosmos Hub has announced a significant funding initiative to support the development of CosmWasm. In collaboration with Neutron, a total of $500,000 will be dedicated to Confio for the maintenance and enhancement of CosmWasm throughout 2025. This funding aims to ensure the continued functionality and development of smart contracts within the Cosmos ecosystem.

Importance of CosmWasm

CosmWasm, developed by Confio since 2020, is essential for enabling decentralized applications (dApps) across nearly 100 chains within the interchain. Over the past year, it has generated over $5.7 million in fees within the Cosmos ecosystem. Despite its success, funding for CosmWasm faced challenges due to restructuring at the Interchain Foundation, previously its primary financial supporter.

Collaborative Efforts and Future Goals

The new funding forms part of the CosmWasm Coalition initiative, targeting a total of $2 million to secure its maintenance and growth in 2025. This initiative will support Confio's team in delivering essential functions such as security research, feature development, and developer support. The Cosmos Hub’s previous support includes a successful $1.25 million allocation under Proposal #103 in March 2023.

Ensuring Ecosystem Stability

CosmWasm is crucial for the Cosmos Hub, particularly for permissioned smart contract capabilities. Many consumer chains rely on CosmWasm, making its maintenance vital for sustaining and expanding the ecosystem. By securing early funding, the Cosmos Hub prioritizes its technical needs and those of its consumer chains in Confio’s roadmap.

Encouraging Broader Ecosystem Support

AADAO and Neutron's initial funding efforts are expected to inspire additional contributions from other stakeholders, ensuring the financial stability and growth of CosmWasm and the broader interchain ecosystem. This strategic move reinforces their commitment to supporting the Cosmos Hub and the ATOM community.

About Atom Accelerator DAO

Atom Accelerator DAO is a governance-mandated entity of the Cosmos Hub, focused on initiatives that drive economic impact and growth for the Cosmos ecosystem. Their venture arm invests strategically in early-stage web3 startups, providing expertise and support to enhance value for ATOM.

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