Future research directionResearch Draft — Not Live

Community Maker Capital

The current Maker Vault is a security vault.

Bonded $COSMO provides accountability, aligned incentives, and slashable collateral for maker behavior. It is not trading capital.

Community Maker Capital is a future research direction: a possible second layer where community-provided capital could act as maker inventory inside the COSMO settlement system.

Maker Vault

Live today

Security collateral. Bonded $COSMO that makes maker behavior accountable and slashable. Proven on Supra Mainnet through the community-maker settlement.

Community Maker Capital

Research

Possible future maker inventory. Community-provided capital operating under transparent, restrictive rules — strictly separated from the security bond.

Risk split

LPs / capital providersMarket and inventory risk

Capital would act as maker inventory — its value moves with the market.

OperatorsBehavioral and slash risk

Accountability stays with the operator through their own bond. Slash risk is never socialized to capital providers.

CouncilPolicy envelopes

Sets and adjusts the rules makers operate under. Does not approve trades one by one.

Why this matters

The next wave of DeFi market making may be agent-managed and vault-based. Before community capital can safely participate, the system needs clear risk separation:

  • · capital providers supply inventory
  • · operators provide slashable accountability
  • · policy envelopes constrain what agents are allowed to do
  • · settlement proves the outcome on-chain

Community Maker Capital is COSMO's research direction for that future.

Policy-envelope concept

A future version could restrict maker activity through:

Pair allowlistNotional capsOracle price bandsMax inventory imbalanceKill switch

Important design questions

  • How are profits and losses reflected?
  • How do deposits and withdrawals work?
  • How is NAV calculated during active settlements?
  • How should operator compensation work?
  • One shared pool or multiple pair-specific pools?
  • What happens if an operator fails or goes offline?

These questions are structured as decision points in an ADR draft (adr-community-maker-capital-DRAFT-2026-07-04). None of them are decided.

Static research content. No wallet actions, no deposits, no on-chain interaction on this page. The live system today is the bonded security vault and the settled community-maker proof — nothing on this page changes that.