Babylon Genesis Whitelisted Address for Deployment of a Decentralized Exchange (DEX)
Summary
This proposal seeks to grant the Tower Team address authorization to upload CosmWasm contracts to the Babylon Genesis Cosmos Blockchain without requiring further governance approval for each upload. The whitelisted address shall only upload code related to the establishment and maintenance of the Tower DEX and shall be secured with a multisig setup under the stewardship of the Tower Finance team.
Proposal Details
Type
- Proposal Type: Parameter Change
- Chain: Babylon Genesis Mainnet
- Messages:
/MsgAddCodeUploadParamsAddresses
Overview
The address will deploy and maintain the decentralized exchange (DEX) on Babylon, structured to offer swapping and liquidity provisioning capabilities.
The proposal is a parameter change update to the WASM module of the Babylon Genesis chain. Specifically the addresses array will be appended with a Tower whitelisted address to enforce whitelisting. No changes to the rest of the parameters.
Parameter Specifications
Technical Details
The message:
{
"messages": [
{
"@type": "/cosmwasm.wasm.v1.MsgAddCodeUploadParamsAddresses",
"authority": "bbn10d07y265gmmuvt4z0w9aw880jnsr700jduz5f2",
"addresses": [
"bbn1v3lucy6ugmdlut0385afdq27d07zhur3tjazrc"
]
}
],
"metadata": "ipfs://bafybeihuxfemu44hf5z65v32nrg4r5gqvdwefw52sn32a2kx2ptu3xseku/",
"deposit": "200000bbn",
"title": "Whitelisting Address for Tower DEX",
"summary": "Governance proposal to grant the Tower Team address authorization to upload CosmWasm contracts for the first Babylon nativ DEX",
"expedited": true
}
Security Considerations
Tower’s smart contracts and code base have been audited multiple times with the last audit being conducted by Halborn mid of March 2025 with a published report which can be reviewed here. Multiple security measures will be implemented to ensure the security and integrity of the DEX deployment:
- Smart Contract Audits: The entire Tower code base was audited and new major features will be audited again before being deployed on the Babylon chain.
- Rigorous Testing: Extensive testing in simulated and staged environments before live deployment.
- Multi-Signature Security: The deployment address will operate under a multi-signature scheme to ensure that multiple validations are required for any critical action, reducing the risk of unilateral mistakes or malfeasance. An M-of-N threshold will be used with M being a total number of three potential signers and threshold N requiring at least two signatures. The threshold is placed at an odd number and secures the majority of the potential signers to avoid a tie situation in decision making.
- Monitoring and Incident Response: Ongoing monitoring of contract interactions combined with a robust incident response plan to address potential security breaches promptly.
- Physical Security: Every key will be stored on different devices and it will be made sure that no direct connection between those devices will be ever established.
- Social Engineering Proof: The Tower team has undergone social engineering training and is conducting regular phishing attack simulations and training with our security advising team.
- Risk Assessment: Low
- Testing Status: Tested and Audited.
- Monitoring Plan: The Tower team will intensively monitor the behavior of the uploaded code and is available to intervene if necessary.
While this proposal authorizes the specified address to upload CosmWasm contracts to the Babylon Genesis network without independent governance proposals, it specifically will be only used to upload the contracts necessary for the operation of the DEX. Any future products or significant changes to the DEX architecture will be subject to a new governance proposal (in the form of Text Proposal) to ensure transparency and community oversight.
The DEX code can be found in this public repository: Towers BabyDEX on GitHub
Timeline & Expected Effects
- Implementation Timeline: Immediately after Babylon Mainnet Launch
- Dependencies: Whitelisting of the address
Team & Resources
Tower is the decentralized exchange (DEX) for BTCFi, built on the Babylon Genesis chain. Tower unlocks Bitcoin liquidity, enabling seamless trading of Bitcoin LSTs and LRTs. Featuring concentrated liquidity, vote-escrowed governance, and a bribe marketplace, Tower optimizes capital efficiency and empowers community-driven liquidity management. Tower aims to be the central trading hub for the evolving BTCFi ecosystem.
The Tower team has worked on innovations in the Cosmos ecosystem and delivered the first in-production use case of Interchain Communication (ICA & ICQ) following the approval by other ecosystem communities.
- Proposing Entity: Tower Finance
- Website: www.tower.fi
- Twitter / X: @tower
- Point of Contact: [email protected]
Benefits
- Deployment of Tower, the first Babylon Native DEX
- Users have a DEX destination directly on Babylon Mainnet to buy and LP their BABY tokens
Conclusion
By supporting this proposal, the Babylon community will enable Tower to efficiently deploy and manage a decentralized exchange, fostering innovation and liquidity on the Babylon Genesis Cosmos Blockchain. This initiative is aligned with our long-term goals of enhancing platform capabilities and user experience, ensuring robust growth and sustainability.
This proposal is designed to facilitate decisive action and strategic development within the Babylon Genesis chain environment, ensuring that our operations are conducted securely, efficiently, and with full community oversight.
