16 Nov 2022
Cosmos Check-In #1
Welcome to Flagship’s Cosmos Check-ins! Our goal is to provide you with up-to-date and in-depth news about the Cosmos Ecosystem in less than 7 minutes! Grab a coffee, and let’s dive in.
TLDR: The contagion is just starting, but so is ATOM 2.0
This week has been challenging for the wider web3 industry, as we discovered that FTX is insolvent. For those affected by the FTX saga, I feel for you and hope things get better over the next few weeks - and please don’t do anything erratic. I’m just a DM away if you need to talk.
On the Cosmos side, it seems that not many projects have been affected, and we keep chugging. However, we’ve had our fair share of “CZ vs. SBF,” but it’s in the form of proposals 81 and 82. Also, there have been plenty of exciting developments over the past week, so let’s summarize and take a look at this week’s check-in on Cosmos!
Proposal 82 has been acc… rejected
This is probably the top highlight of the week, as Proposal 82 — which sets the future of ATOM 2.0 and its various elements — gets rejected due to the amount of “No with Veto” votes surpassing 1/3 of the total votes. To be clear, this was a signaling proposal.
According to people who were against this proposal, their main concern was that the proposal itself had too many discussion points and should be split up into its various contents with more refinement as they felt that there was not much detail going into each content.
And the most pressing concern of the section? The risk management for things like Liquid Staking, the Allocator, and the Scheduler. Back to the drawing board, I guess!
What are your thoughts on this proposal? And did you vote?
Source: https://wallet.keplr.app/chains/cosmos-hub/proposals/82
New Developments: Skip, Duality & Cross-Chain NFTs
This week has provided us with two new exciting projects: Skip & Duality alongside a significant development in the NFT scene of Cosmos.
Skip: Building MEV-products on Cosmos (Live on mainnet)
Skip has announced that they are now live on Juno Mainnet, allowing networks to earn additional revenue from MEV via competitive auctions where traders compete for top-of-block execution, with the proceeds going back to validators and stakers.
I know it all sounds so complex, so here’s a quick 5 minutes video that explains what Skip is.
Source: https://twitter.com/SkipProtocol/status/1588215734865231872
Duality: The dual DEX for capital efficiency and sophisticated strategies
Duality, a new DEX utilizing Interchain Security from the get-go, is set to launch during Q1 2023. But… what’s so good or different about Duality compared to other DEXes?
Apart from the obvious (secured by staked ATOM from the get-go) answers, Duality is optimized for capital efficiency and composability while being able to protect its users from harmful price manipulation through MEV protections and bad MEV practices.
Learn more about the mechanics of Duality via their Litepaper before they launch in 2023.
Source: https://twitter.com/dualityxyz/status/1590333430104932352
Cross-chain NFTs
Let this picture sink in for a bit… as it is historic.
If you’re wondering what it is, it shows a successful NFT transfer on Testnet from IRIS Network to Stargaze using the new #ICS721 standard on the 8th of November.
To top this news off, IRIS Network successfully transferred an NFT to JUNO testnet on the 9th of November, which suggests that Interchain NFTs are coming to fruition soon!
Source: https://twitter.com/irisnetwork/status/1590295326770233344
Developers… Time to get onboard, Cosmos!
This week has also been monumental for developers looking for opportunities to learn everything they need to become fully-fledged Cosmos developers. I mean, even Google is starting to hire Cosmos developers according to its recruitment post as pointed out by Thyborg.
Developer Training: Cosmos Chinese
If you are a Chinese looking to get into Cosmos, the Chinese Cosmos Community has opened up a developer training program, alongside Hashkey Capital, Octopus Network and a few more partners.
Registration is open until the 30th of November… so what are you waiting for?
Interchain Academy
The Interchain Academy is going strong and is now looking for the 3rd cohort of its 7-week instructor-led training program to level up one’s Cosmos Expertise.
Registration is open until the 24th of November!
Other interesting happenings
- The total value of all IBC transfers from Cosmos Hub as it stands on the 10th of November is $8,739,128,066, according to IOBScan. Read more about it. here.
- For Cosmos Validators, the Game of Chains has started, and the public testnet will run through November. Prove that you have what it takes to run Interchain Security, here!
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