28 Dec 2022
Cosmos Check-In #6
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! So grab a coffee, and let’s dive in.
TLDR: 2023 will be a big year for Cosmos
This is officially the last check-in for 2022, and I hope everyone has had a great holiday! This week, developments and announcements have not slowed down for Cosmos, and we are presented with the exciting news that will set the pace for 2023.
In this edition of the check-in, we will start with a synopsis of the end-of-year report that will be released soon, followed by tangible and intangible developments. We only have 7 minutes, so let’s dive in!
2022 in the recap for Cosmos
The cryptocurrency market has experienced significant challenges in 2022, including rising inflation rates, the depegging of TerraUSD, which hurt Cosmos, and finally, the collapse of FTX and various centralized entities. Despite these dooming events, Cosmos has remained relatively competitive in valuation, and there has not been a considerable decrease in monthly active users.
However, another application-specific blockchain on Cosmos has struggled to gain widespread adoption among users, as most of Cosmos’ valuation comprises the Hub.
In our report, we argued that we believe 2023 will be a turning point for Cosmos, with the predicted development of over 100 interconnected zones and the majority of valuation spread across various application-specific blockchains by year-end 2023 — with supporting data.
If you have not looked at this report yet (of course not), I suggest you look forward to it, as we will release it in the next few days; let us know what you think about the report.
Tangible upgrades and launches
Next, we look at some of the tangible updates and launches that we have seen this week and can interact within the next coming days (or now even depending on when you read this), from the new strategies from Sommelier that will be live soon, new releases of networks like Lava Network, Nibiru and Injective’s explorer upgrade.
Sommelier adds MATIC and UNI to their Steady Strategy Line
After the proposal from Patache Digital, Sommelier recently added the “Steady UNI” and “Steady MATIC”, and these strategies will go live on the 29th of December at 4pm UTC. After these strategies go live, there will be 75k of SOMM incentives per strategy ongoing for 3 weeks.
Source: https://medium.com/@sommelier.finance/matic-and-uni-added-to-steady-strategy-line-b1af46fd6e30
Nibiru Chain is now on the 2nd phase of their testnet
Nibiru, a blockchain that aims to be a DeFi hub powering derivatives and spot trading, is now on phase 2 of testnet, which introduces faster finality, Nibi-Swap pools (AMM pools), and supports permissionless deployment of CosmWasm smart contracts. What’s coming next for them would be their decentralized oracle and the upcoming NUSD stablecoin.
Source: https://twitter.com/NibiruChain/status/1605541947191349249
Lava Network now supports decentralized access to the Cosmos Hub mainnet and testnet RPC
Developers can now trustlessly access Cosmos Hub data with Lava’s SDK — which supports REST API, URI/HTTP, and JSON-RPC. Furthermore, leveraging the blockchain to provide an open market for blockchain RPC allows smaller chains to bootstrap their RPC nodes and ensures that the data that developers have access to are accurate and fast, as providers have to cryptographically sign their service to ensure they get rewarded and held accountable.
Source: https://twitter.com/lavanetxyz/status/1605231616028135424
Injective Explorer gets an update
This week, Injective has upgraded their explorer, allows address details to include CW20 token balances, and added CW20 smart contract balance support.
Source: https://twitter.com/Injective_/status/1606313149577121792
Kava is now live on Axelar
Kava is now live on Axelar, and satellite money users can directly transfer assets from connected chains to Kava. On the other hand, developers can tap into the dApps that are building on top of Kava’s infrastructure.
Source: https://twitter.com/axelarcore/status/1606030543279493120
Non-tangible upgrades and proposals
Last but not least, we look at the non-tangible upgrades, like Syntropy’s move to Cosmos, Sonar Wallet by Kujira, and interesting proposals like Sentinel Hub’s upgrade to v0.10.0 and Pleiades Phase II from Gravity Bridge.
Syntropy moves to Cosmos, from Polkadot
After the halt of their validator program on Amber Chain, which was based on Substrate (Polkadot), Syntropy has announced that they have switched to the Cosmos ecosystem to fulfill their vision of innovating the future of the Internet by building solutions that improve the decentralization, security, and performance of the Internet with DARP and OBX.
Source: https://twitter.com/Syntropynet/status/1605217271814594560
Kujira teases Sonar Wallet
A few weeks ago, Dove from Kujira teased Ghost — which many people thought was the wallet then. But it seems that Ghost isn’t the wallet, but something else. Meanwhile, Kujira has announced this week that Sonar will be the name of their wallet, with a focus on the native mobile experience that is crafted for a seamless DeFi experience.
Anyway… seriously, what is ghost?
Cues “stop teasing me, you naughty naughty.”
Source: https://twitter.com/TeamKujira/status/1605319999945834496
Pleiades Phase II, the second security upgrade for Gravity Bridge
The second security upgrade for Gravity Bridge introduces invariant checks, which ensures that the chain will automatically halt in less than an hour with an invariant. Next, it also adds fees to be distributed to $GRAV stakers that users who bridge tokens with GV pay.
Source: https://twitter.com/gravity_bridge/status/1607847247248789505
The proposal for Sentinel Hub’s upgrade to v0.10.0 will be on-chain soon
The proposal for Sentinel Hub’s upgrade to v0.10.0 will be live on-chain soon, and it is a critical upgrade as it primarily allows for the functioning of smart contracts and enables the token revenue sharing system, also known as “Work Token” — more to come as soon as we get them.
Source: https://twitter.com/Sentinel_co/status/1607067862153457666
Other interesting happenings
- Ignite is currently negotiating terms to become an independent entity from All in Bits (AiB).
- Sei has recently partnered with Babylon to enchance the security of Sei by leveraging Bitcoin’s security. Sei has also partnered with SYNTHR to allow users exchange value seamlessly without the need for bridges.
- ZetaChain has posted their wrap up of 2022, which goes through the metrics and achievements that they have achieved this year, such as having more than 740k users on the Testnet.
- If you are looking for the hottest news about NFTs, AssetMantle has recently posted a thread which covers the latest news in the NFT space.
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