Stargaze v11 Upgrade - Tokenomics Update

This upgrade includes the steps 1-3 as part of the migration that were approved in prop #165 https://www.mintscan.io/stargaze/proposals/165

New Modules: x/tokenfactory x/ibc-hooks

This upgrade includes version updates to Tendermint

• Tendermint v0.34.29 (Comet Fork)

Tokenomics Update

This upgrade will perform a One-OFF emissions cut adjusted to July 11th being 711,578 daily emissions, supplemented with community pool funds for the next 6 months with the option to perform future governance proposal to extend as detailed in https://docs.google.com/spreadsheets/d/12zFTYowqDBOlUNvfaWSvXH3mhsFKemWRuA3uqAYKpyY/edit#gid=1260584764

Details of upgrade time

This proposal suggests block #9060226 for the upgrade, which is estimated to be at Tuesday 11th July 15:30 UTC, using avg block time of 5.87 secs https://www.mintscan.io/stargaze/blocks/9060226 When the network reaches the halt height, the state machine of the blockchain will be halted. Cosmovisor, if configured properly, will then switch the binary used for v11.0.0, and then the chain will continue to make progress. In the event of an issue at upgrade time, we will coordinate via the #verified-validators channel in Discord. Upgrade Instructions