1/Today, The
@Cosmos
Theta upgrade quietly went live. The upgrade marks the official launch of Interchain Accounts, a module that has the potential to drastically boost interoperability, traffic and composability on the internet of blockchains. A thread
👇
Now that the $ATOM 2.0 vision has been unveiled, it’s time to unpack it.
I had the privilege to contribute to the whitepaper so here’s a roundup of the newly proposed roadmap.
A thread 🧵
I have been doing a lot of thinking lately about the $ATOM tokenomics and the overall role of The Hub within the Internet of blockchains. Here are a few thoughts and an attempt at bringing more clarity on this crucial topic. Long 🧵 ahead, buckle up!
1/ I spent some time thinking about how high $LUNA price might go this cycle.
I've read a few price predictions based on how high $UST usage can go, which makes a lot of sense since the 2 tokens are intimately linked.
I’ve wanted for a long time to compare both
@cosmos
and
@Polkadot
ecosystems. They are both considered to be third generation blockchains and share a similar horizontal scaling approach, as opposed to Ethereum and Solana who favor vertical scaling.
A thread 🧵
$UST will eat USDC and USDT's lunch. Some of the retail already understood the value prop of decentralized, censorship resistant stablecoin.
Institutions will follow soon.
It's inevitable in the long run.
#Cosmos
is silently building an enormous ecosystem that :
- is scalable
- allows chains to be sovereign while exchanging/transacting between them
- provides chains with access to shared security through the interchain security. 1/
The
@cosmoshub
community just gave birth though proposal 95 to the very first DAO in its existence: the $ATOM Accelerator DAO.
The
@ATOMAccelerator
is a grant focused DAO that won massive support from the community.
A thread 🧵
@cosmos
is finally gaining legitimacy as a world class technology and ecosystem.
Institutions are increasingly curious about it and will allocate accordingly.
$ATOM is a sleeping giant.
Just had to say this: I'm bullish $ATOM.
I'm seeing a lot of positive energy and there are multiple strategic initiatives that are shaping up.
Big things are coming. Keep grinding.
Beyond excited by the proposal of
@stride_zone
to join ICS and the $ATOM economic zone.
I have been working with the Stride core team the past few weeks and I was impressed with their vision and how fast and well they execute.
Quick 🧵
1/ What a night yesterday! A thought for all my frens who got liquidated.
Terra $LUNA $UST is a movement backed by a passionate, dedicated community and a genious founder.
I don't believe the project will fail.
In the second tweet of my mini serie
@cosmos
vs
@Polkadot
, I’am covering the following areas:
A. ecosystems and valuations
B. Dev mindshare
C. Popularity with retail and crypto funds
A thread 🧵
At the rhythm this is going, someone is gonna need to create an AEZ focused DAO to provide first class support to prospective and existing partner chains.
There is a LOT to work on to make AEZ successful.
The $ATOM economic zone has a smart-contract platform, a liquid staking provider and hopefully soon enough a cutting-edge DEX
Still missing a key DeFi primitive: a money-market
To remedy that,
@Umee_CrossChain
is joining the list of potential new consumer chain candidates ⚛️
Slowly then all at once, the world is waking up to the tremendous value of app-chains built on
@cosmos
.
Sovereignty, world class tech, interoperability and a burgeoning ecosystem can do marvels.
$ATOM
$ATOM is busy:
1. Replicated Security launched
2. Strong support of Neutron on-chain proposal
3. Strong support of Liquid Staking Module
3. High likelihood of Stride being the second partner chain
4.
@ATOMAccelerator
RFP around the future of the Hub and $ATOM to follow
So $IST stablecoin by
@inter_protocol
just launched after months of careful design. A thread on the current design and what lies ahead. Busy schedule.
🧵
People keep bashing $ATOM for its weak tokenomics yet fail to understand the magnitude and importance of airdrop rewards. Think about it: by staking a decent amount of ATOM, you get exposure to dozens (soon hundreds) of newly launched app-chains.
1/
Cosmos badly needs a native, decentralized AND risk-minimized stablecoin.
Been impressed with $IST
@inter_protocol
meticulous approach to design. Design is everything.
Top team of economists working round the clock to bring to market the best engineered stablecoin
1/ The $ATOM economic zone is not an illusion and is slowly taking shape.
It is composed of talented builders from world class teams like
@Neutron_org
,
@stride_zone
and
@noble_xyz
that chose the
@cosmoshub
as their homebase.
One of my mental models:
@cosmos
is Wordpress while Ethereum is Shopify
In 2021, Shopify had 2.2 million active websites built on it. As of today, WooCommerce (e-commerce arm of Wordpress) has at least 5 million active websites .
A thread🧵
Time for $ATOM to shine.
Giga pumped to finally see Replicated Security launch in Cosmos.
Next few months are going to be interesting.
$ATOM economic zone in full motion now.
Six years after the ICO..
Four years after mainnet..
$ATOM is about to get a taste of value-capture
The Replicated security is live on the Cosmos Hub 🥳
$ATOM and
@cosmoshub
renewed visions as part of the tokenomics RFP
@ATOMAccelerator
has been working on are coming sooner than you think and it will be lit.
Fingers crossed: we hope to announce the grant winners next week.
Then it's game on.
Assuming some changes made by the Osmosis team, I would basically be able, directly from Osmosis, to withdraw the $UST and send it to Anchor to put my UST to work. This could be done in 2-3 steps without ever leaving the Osmosis website. 8/
The Hub is choosing progress over stasis and that is a fucking good news. The culture is changing.
I haven't felt that optimistic on the future of $ATOM in a long time. Wounds are healing.
A whole new world of possibilities is opening up.
Permissioned CW here we come.
The
@cosmoshub
is the technical launchpad for the Cosmos ecosystem and will capture value proportionally to the growth of the IBC economy.
Interchain Security is just the beginning.
$ATOM
Gentle reminder that
@ATOMAccelerator
is the only decentralized organization that is elected and 100% $ATOM/
@cosmoshub
aligned.
We're just getting started and have great things lined up.
If you know you know.
$ATOM as the default interchain gas will (quite likely) happen and solve huge UX issues in the Cosmos while reinforcing the narrative of interchain money.
I always thought it was important for $ATOM to go through that process. Let's see where it takes us.
cc
@GoldenStaking
- Leap Wallet is focusing on establishing $ATOM as the primary gas token across Cosmos chains.
- Users can seamlessly pay fees in $ATOM, making it the default option on consumer chains where supported.
- The wallet will introduce a preference setting, prioritizing $ATOM as the…
What if the Hub became a security aggregator, attracting billions in security from across the crypto space?
We are happy to introduce the
@Bitcoin
@babylon_chain
x
@cosmoshub
integration! (Forum post in last tweet - don't miss out)
At some point, the Hub and the $ATOM community will have to revise their position on CosmWasm and prop 69.
Not having CosmWasm diminishes the sovereignty of the Hub by forcing it to rely on external providers, which I see as a loss in sovereignty.
Massive support so far of
@Neutron_org
, the very first partner chain to launch on Replicated Security by $ATOM.
Neutron will be the smart contract layer of the
@cosmoshub
and rumors say a few (very) high quality projects will build on it, driving additional value to NTRN + ATOM
The main benefits from Interchain Accounts are the following (s/o to
@L1am_Crypto
for articulating this):
- Streamlined user experience on the Cosmos ecosystem
- Unlock of new interchain services and business models
- Increased composability
- Increased cross-chain activity
10/
AI agents need crypto and crypto needs AI agents.
It's increasingly becoming my central thesis around crypto: eventually, most of on-chain volume & activity will be AI driven. token based, instant settlement, permissionless: the dream infra for AI.
For the first time in a long time, I see a clear pathway for $ATOM to finally find its niche and be where it belongs: up there in the top 10.
I'm not settling for less.
The current PA of $ATOM doesn't do justice to everything being built (or already shipped):
✅ ICS v1 and soon v2, which is finally opening the floodgate to new projects using the Hub as their homebase, extending the size and reach of the AEZ
✅ Permissioned CW, which opens the…
1/ It is crucial for $ATOM to benefit from the expansion of IBC.
What better way to position $ATOM than having AADAO doing venture grants in soon to be connected IBC infra projects connecting Cosmos to other L0/L1s?
@cosmos
Interchain Accounts will allow the rise of a vast array of possibilities that further strengthen Cosmos as a precursor and established leader in blockchain interoperability. 2/
@cosmos
You can see Interchain Accounts as granting blockchains the ability to open up their native functionalities as an “API” to be custom written by another chain, and then executing the write states to these endpoints over the Interchain Account channels 3/
The signaling proposal (82) was rejected. I did not want to react immediately and preferred to take a few days in order to provide a less emotional, more rational perspective.
A thread about this journey & the lessons I learned.
🧵
1/
@notionaldao
asking funds through public governance is just a sign that alternative funding is broken in Cosmos.
This is a last resort, desperate situation that is the result of months of frustration caused by the ICF.
@notionaldao
deserves every penny they are asking.
2 more days to vote for $ATOM 2.0
Remember: this is only a signaling proposal and it has already been considerably modified to reflect the community's various concerns.
I sincerely believe we have something here on which we can build a brighter future for the Hub 1/
Then I would have to take an extra step to put the $UST on Anchor (either directly from Terra Station or from the Anchor app). Now If both Terra and Osmosis have set up the Interchain Account module and opened a channel between them, that would be an entirely different User X. 7/
@cosmos
The project was visionary from the very first day with its multichain and interop approach. I also give value to the fact that there is no self-proclaimed leader. Some will say successful blockchains rely on hyper present leaders who set the agenda and pace. 1/
@cosmos
@osmosiszone
Let's say I want to withdraw some $UST I have parked there and then put that UST to work on Anchor for a 19.5% yield.
Currently, to do that, I would have to withdraw my UST from Osmosis, then go to my
@keplrwallet
wallet and send the UST to my Terra wallet. 6/
Funny how bull markets keep starting with promising projects then slowly moves to valueless, hyper financialized ones.
This bear market is welcomed. We need a reset. Focus again on useful projects/features. Tired of endless copy/pasta with no added value.
We deserve this.
You only need to know 2 things to understand
@cosmos
.
1. Best in class tech in service of interop & sovereignty:
Tendermint, Cosmos SDK & IBC
2. Vibrant and passionate community where members are willing to help each other for the greater good of the ecosystem
That's it.
We talk a lot about native $USDC being issued on Cosmos Hub through ICS but not enough about
@Neutron_org
who's bringing Lido, the king of Liquid Staking.
ICS hasn't launched yet and already includes 2 of the strongest brands in DeFi.
Osmosis is not alone anymore in DeFi.
Now that we know the WHY, we also need to investigate and discuss the HOW. Stay tuned for my next thread, where I’ll be covering how we can improve $ATOM utility and legitimacy within the Cosmos and beyond.
Fin.
Crypto is not for the faint of heart.
It requires courage & a conviction that we're building something valuable and necessary that will last for the centuries and millennials to come.
To all the people who are still hear despite the horrible conditions, I salute you.
🎩
Super proud to be part of
@MessariCrypto
Mainnet
2023 in two weeks, representing
@cosmos
and the
@ATOMAccelerator
I'll be part of a panel alongside
@jelenaaa____
and
@dgogel
, where we'll explore the opportunities and challenges within the Cosmos ecosystem.
Long Interchain!
@cosmos
@osmosiszone
While most chains adopted a ''collect the fees first then build'' approach, Cosmos intelligently went backward. Build first a world class product then work on monetization once the audience (apps, users, devs) is satisfied with the product. 15/
In that regard, the analogy of parachains being tenants vs Cosmos app chains being owners make sense.
In my next Cosmos vs Polkadot thread, I’ll cover the state and maturity of their ecosystems. Thank you for reading!
Stride's AEZ + ICS prop is live on Cosmos Hub 🎉
Should Stride join the ATOM Economic Zone and adopt interchain security?
It's up to ATOM stakers to decide.
🗳️ 👉
@cosmos
It allows an end user to mandate the blockchain A on which he has assets to perform an action on Blockchain B. To better illustrate my point, here's an example: currently, let's say I'm using
@osmosiszone
(which is a sovereign app-chain built on Cosmos) for my trades. 5/
@cosmos
So what does Interchain Accounts mean? You can see it as an additional IBC layer that liberates more opportunities. While current IBC allows for token swaps and transfers between sovereign Cosmos chains, Interchain Accounts goes one step further. 4/
17/ Therefore, LUNA price will continue to grow exponentially.
The bet of
@stablekwon
will pay off because the world needs a decentralized, non censorable stablecoin.
The $UST value speaks for itself.
@L1am_Crypto
The direct consequence is mind blowing: current chains will be able to develop new composable primitives, enabling a transition from their native, single chain business model to interchain native business models, thus making the scope of their impact orders of magnitude higher.
@L1am_Crypto
@buchmanster
I personally see Interchain Accounts as the third major innovation in Cosmos, with the first 2 being:
- Ability to build sovereign chains using Tendermint and Cosmos SDK
- Ability through IBC to do transactions between them
17/
@cosmos
I'd argue that a blockchain with no obvious leader is more in the spirit of decentralization and clearly deserves a decisive spot in the crypto landscape. I have been following
@buchmanster
, co-founder of Cosmos for quite some time now and he has been able to engrain 2/
@L1am_Crypto
Interchain Account is the next logical (and complex) step in interoperability and presents one major advantage that changes everything: the ability for a chain to write a state on another blockchain. 12/
Shared Security is the entry point into AEZ but far from the end goal.
What makes me bullish about AEZ is the compounded intelligence from its contributors:
@Neutron_org
,
@stride_zone
,
@noble_xyz
The Hub is slowly shaping into a brilliant hive mind.
Congratulations
@jelenaaa____
you've proved your commitment to
@cosmos
time and again!
Native $USDC is a big deal for Cosmonauts and native asset issuance is one of the core missing pieces in Cosmos.
Excited to see what other assets come on
@noble_xyz
!
#cosmosSZN
1/ Im so excited to officially announce that native USDC is coming to
@cosmos
and that I've joined
@noble_xyz
full-time as co-founder & CEO.
So, how did this all come to be? Story time :)
1/
Hub's assets $value:
$ATOM: $37 M
$NTRN: $64M
$AADAO: $11M
$POL: 20 M (entirely denominated in ATOM-stATOM)
Total: $132M
Only issue: not a single $ in stablecoins. It's gonna be critical to diversify into stables a meaningful portion in anticipation of the bear market.