New people on the call
- Collin Myers - Activate (ConsenSys)
- Mara Schmiedt - Activate (ConsenSys)
- Rina Spasenkova - Paradigm Fund
Felix covered the outline of the research report going through the draft table of contents.
- Intro to PoS and liquid staking
- Liquid staking taxonomy and explanation of approaches
- Liquid staking as a building block for decentralized finance
- Liquid staking and network security
- Desired outcomes for liquid staking and framework to evaluate approaches
- Evaluation of various approaches based on framework
- Conclusion, recommendations and future work
- Is regulatory part of the scope?
Challenges of including regulatory in the report:
- Jurisdictions will be different
- Can get a feel for what the regulatory implications will be like
- Response to it in the next call after internal discussion in Chorus team
- What's the organisational structure of the research report production?
- Felix - writing
- Brendan - overall project coordinator
- If the derivative is a security, then is the raw asset not a security?
- Brian: something not a security can be used to create a derivative that is a security. Example - derivatives built on commodities.
- Colin: Technical supersedes legal. In-protocol token issuance preferable, rather than an outside service provider creating the token. That would help the legal case.
- Legal discussion and tax discussion can be kept separate.
Do we have more resources on staking insurance?
- There is not too much public.
- Nexus Mutual is looking at it. Unslashed was on the call - Felix referred to them.
- Marouanne: What would be a useful resource to have?
- Will start sharing resources on our implementation of slashing insurance this week.
- Combination of insurance and slashing
- Sunny presented on the accounting and flow of delegation vouchers.
- Delegation Vouchers keep track of the conversion ratio between atoms and shares
- He explained the issue with delegation vouchers - what happens if the rewards are in two different tokens, like atoms and photons?
- Sunny then explained how to make delegation NFTs. How it exploits Cosmos F1 fee distribution to take care of multiple fee tokens.
- Issue with making non fungible delegation assets.
- He explained how the solution track last withdrawal time