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A Summary of

Separating the staking token from the fee token

by
Chjango Unchained
Tendermint
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The Cosmos Network should divide its staking and transactional utility into two tokens to defend against 33% attacks which threaten PoS networks. Atom already exists for staking, but does not have utility as a currency.

The proposed Photon would be:

  • A secondary fee token
  • Used for transaction payments (e.g. gas fees)
  • Awarded as block rewards to Cosmos Hub validators
  • More liquid than Atom
  • Not crowdsold
  • Minted at 500 Photons per hour

Implementing Photon will require:

  1. Distributing equal amounts of Photons to all Ether holders using a Hard Spoon
    1. Hard Spoon: a new cryptocurrency which inherits an old cryptocurrency's token balances (creating a replica)
  2. Forking the Ethereum state into an EVM called the Photon Zone using Ethermint
    1. Ethermint: an execution environment which allows anyone to spin up an EVM chain running on Tendermint consensus
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