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BAND $0.1907 0.94% Market cap $35.3M

BCIP-5: Enable IBC Transfer

Proposal #5 on Band

Band network: Day Nov 3 · Healthy

Typical fee 0.0004 BAND

Overview

Updated

Passed

Voting ended
Nov 11, 2021
Opened Oct 28, 2021
Submitted
Oct 28, 2021
Oct 28, 12:23 UTC
Deposit
1,001 BAND
Type
Parameter change

Votes

  • Yes 60.2M BAND
  • No 0 BAND
  • No with veto 0 BAND
  • Abstain 0 BAND

Description

The proposal enables IBC-Transfer on BandChain. If this proposal passes, IBC Transfer params will be set to true, and the historical_entries param in the staking module will be changed to 10,000 for header verification in IBC connections. BAND holders can transfer their token to our partner chains with IBC-capability and perform activity on those chains with BAND tokens. The ease of transferring enabled by this feature creates more seamless use cases of Band token which raises the value and liquidity of the token.

What it does

The message the chain carries out if it passes, as written in the proposal.

  1. Parameter change cosmos.params.v1beta1 
    {
    "@type": "/cosmos.gov.v1.MsgExecLegacyContent",
    "content": {
        "@type": "/cosmos.params.v1beta1.ParameterChangeProposal",
        "title": "BCIP-5: Enable IBC Transfer",
        "changes": [
            {
                "key": "HistoricalEntries",
                "value": "10000",
                "subspace": "staking"
            },
            {
                "key": "SendEnabled",
                "value": "true",
                "subspace": "transfer"
            },
            {
                "key": "ReceiveEnabled",
                "value": "true",
                "subspace": "transfer"
            }
        ],
        "description": "The proposal enables IBC-Transfer on BandChain. If this proposal passes, IBC Transfer params will be set to true, and the historical_entries param in the staking module will be changed to 10,000 for header verification in IBC connections. BAND holders can transfer their token to our partner chains with IBC-capability and perform activity on those chains with BAND tokens. The ease of transferring enabled by this feature creates more seamless use cases of Band token which raises the value and liquidity of the token.\n\n\t"
    },
    "authority": "band10d07y265gmmuvt4z0w9aw880jnsr700jrdn8wm"
}

How validators voted

A validator's vote counts for its delegators unless they vote themselves. Largest stake first.

Voting ended before BitBasic started recording Band votes on Oct 29, 2026, and the chain deletes votes when voting ends.