Akash Opens One-Way AKT Migration From Cosmos to Solana

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Akash Opens One-Way AKT Migration From Cosmos to Solana

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Solana

Akash Network has opened a one-way portal that moves AKT from its Cosmos chain to Solana, and it stays open for two years. About 1.8M AKT had crossed by Friday midday. Stakers, exchange users and anyone weighing security face caveats.

Akash Network has started its move off Cosmos. On Nov. 12, the decentralized compute marketplace opened a portal that locks AKT on Cosmos and mints the same amount on Solana. By Friday midday, about 1.8M AKT, roughly 0.6% of supply, had crossed.

How the migration works

Holders deposit AKT into a new module on Akash that locks it, and a Solana program checks a proof of that deposit before minting. No third-party bridge like Wormhole sits in the middle, and relayers cover Solana fees, so receivers don't need SOL.

Holders approved the move on Nov. 2, with about 97% of votes cast in favor. However, only the token moves for now. The compute marketplace still runs on Cosmos, and moving it takes a separate cutover vote, after which the old chain halts 90 days later.

Stakers and exchange users wait

Staked AKT must finish a 21-day unbonding before it can move, a step back from the one-step flow the governance proposal described. Founder Greg Osuri says staking on Solana won't be live for a few months, while rewards on the Cosmos chain continue until a later cutover.

Exchanges will convert customer balances on their own schedules. As of Friday, no major exchange had announced a date. Akash staff say exchange users have nothing to do yet.

Security open questions

A 2-of-5 multisig with no time lock can currently upgrade the Solana programs, according to Akash's own docs. Reports from the two audits Akash promised before launch aren't public yet, and its plan gives them 30 days.

Akash joins Helium and Render in folding a DePIN network into Solana, and ZetaChain is set to follow with its own Cosmos exit in December. Moving early carries a cost, though: holders give up Cosmos staking rewards with no Solana staking yet, and migrated AKT won't count in the cutover vote because that vote happens on the Cosmos chain.

Source: Bankless

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