Cosmos Check-In #9

Cosmos Check-In #9

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 10 minutes! So grab a coffee, and let’s dive in.

TLDR: Are we back in a raging bull market?

This week has been seemingly bullish for cryptocurrencies, with the price action of many sectors rising without stopping. Even Bitcoin has had a 20% increase from $17,000 to $22,000… but how has the Cosmos sector developed?

In this edition of the check-in, we will look at the biggest news of the week, followed by the tangible developments and the non-tangible updates that have happened over the past week — With that, let’s dive in!

The biggest news of the week

This week's biggest news has to be the hope of Terra’s ecosystem flourishing after the class action lawsuit against TFL and Do Kwon alleging fraud has been dismissed and Terra’s recent developments.

Also… we have some updates on Interchain Security (or replicated security — which is a term that only nerds say to be brutally honest, like me)

Class action lawsuit against TFL and Do Kwon is voluntarily dropped

A picture which shows the cover page of Terra LUNA, a cryptocurrency that backed $UST, which collapsed

This week, Plaintiff Matthew Albright voluntarily gave up his class action lawsuit that alleges fraud against Terraform Labs and Do Kwon — “after it was demonstrated that he had sustained no injury.” — according to a TFL spokesperson.

Async to the timeline of the lawsuits, TFL has been working quietly in the background to provide value (without the need for an algorithmic stablecoin), with recent notable developments including the expansion of the Terra Station for Cosmos and the ability to mint $USK with $LUNA.

The question I have for you this week is this: Is there going to be a comeback for $LUNA, and if so, how would you expect it to go?

Source: Dropping of Lawsuit, Terra Station's Expansion, $USK <> $LUNA

Should Interchain Security undergo a third party audit?

This picture shows the cover picture for Interchain Security, which is coming to Cosmos

With Replicated Security (Interchain Security V1) set to be implemented at the end of the month, a forum post has gone live this week, which expresses the need to ensure that Interchain Security is sufficiently tested and secure.

How? According to the post, this would require an external third-party audit and the internal audit from Informal Systems.

You can do so in the forum post if you haven't expressed your thoughts.

Source: Explanation of the Forum Post

Tangible upgrades and launches

In this section, we look at some of the tangible updates and launches that we have seen this week, and ones that you can interact with in the next coming days (or now, even depending on when you read this).

Interchain Info rolls out beta version

This picture shows the cover picture for Interchain Info, which makes finding information about the Interchain easier

For those of you who are struggling to keep up with the Cosmos ecosystem (just like me fr), Interchain Info (ICI) is now out in beta. ICI is a multi-chain and chain-agnostic hub for information and tooling. It is intended to bring the fragmented Interchain communities, educational resources, NFT collections, dApps, and tools together in one “hub.”

Source: Interchain Info is now in Open Beta

Carbon integrates with Arbitrum

This picture shows the cover picture for Carbon, a DEX, integrating with Arbitrum

“The first chain to integrate with Arbitrum directly in 2023” award has to go to Carbon after their announcement. This integration gives users in Cosmos access to Arbitrum $wstETH, $GMX, $GNS, $USDC natively on Carbon.

Source: Carbon integrates with Arbitrum

Launches of multiple projects

This picture shows the cover picture for Scripta on Desmos

This week, we’ve had exciting launches from various blockchains: CUDOS, Fetch, and Desmos.

CUDOS: The first DEX called Bubbleswap is now live on CUDOS — an app chain building out a decentralized cloud computing network — and has released its whitepaper. Fetch has released Jenesis v0.6.0, a Rust contract development tool for builders that helps speed development by providing them an overview and insight into the ecosystem of CosmWasm without needing to focus on setup.

Desmos: Desmos has announced the beta release of Scripta, a decentralized publishing platform that allows users to securely express their ideas by creating blog posts, leaving comments, and receiving rewards without infringing upon users' data and privacy.

Sources: Bubbleswap Launches, Fetch Launches Jenesis, All you need to know about Scripta

Minor Updates

This picture shows the cover picture for Flipside

We’ve also had minor updates affecting a subset of the Cosmos community from Flipside and Harbor from Comdex — so do look to see if you’re affected.

Flipside: For the analysts, Flipside has deprecated “blockchains” and “chain_id” in the following tables for Axelar: transactions, msgs, msg_attributes, and transfers. So if your queries for Axelar aren’t working how they should be, this might be why.

Harbor (Comdex): With the passing of proposals 8, 9, and 10, users can now mint $CMST using $OSMO as collateral now — giving more options for users.

Sources: Flipside deprecates some tables from Axelar, Harbor adds $OSMO as collateral for minting $CMST

Non-tangible upgrades and proposals

Next, we look at the non-tangible upgrades, which includes some exciting proposals that are either already on-chain and in the voting process, or will be up for voting in the upcoming days.

Composable’s Centauri testnet

This picture shows the cover picture for Composable's Centauri

Composable has provided an update for their Centauri testnet, which extends the Inter-Blockchain Communication (IBC) Protocol to other blockchains. The testnet will enable the seamless flow of assets between Picasso and Cosmos chains and close the gap between the DotSama and Cosmos ecosystems, allowing for new use cases — which is exciting!

Band Chain’s BCIP-10

This picture shows the cover picture for Band Chain

BCIP-10 proposal on Band Chain aims to introduce a minimum of 0.0025 uband (gas price) for network fees, which aims to prevent spam, provide incentives and make Band sustainable.

Injective’s upgrade to v1.9

This picture shows the cover picture for Injective

Injective will be upgrading the mainnet to v1.9 in a few days, which will upgrade the dependencies of Interchain Accounts to the latest version, WASM contracts, and allow for sophisticated message signing from users.

Cronos’ upgrade with Galileo v1.0

This picture shows the cover picture for Cronos

Cronos will upgrade with an update called “Galileo v1.0,” allowing faster TPS through mempool prioritization by sorting transactions according to EIP1559.

Other interesting happenings

  1. The latest edition of Alpha Navigator, a Institutional Report says that crypto has outperformed gold and equities straight out of the gate — bull market?
  2. Bitsong is singing their songs of how this year will be a huge year for them on Cosmos, well, we will have to see about that! Meanwhile, you can check out their new roadmap.
  3. Artificial Intelligence has been a trending topic recently, and Odin Protocol might be one of the projects on Cosmos that will assist in the crypto AI sector; through data availability.
  4. Umee markets has garnered more than $3M in TVL — Learn more about Umee here.
  5. The amount of OKT for liquid staking (stOKT) has reached over 1 million, which is 1/18th of the total OKT supply! Interesting what liquid staking is doing for chains.
  6. The Synapse Bridge has done more than $18M in volume, and serviced over 8,000 unique addresses after their bridge to Canto went public.
  7. Last week, we talked about KAVA 12 mainnet, which was supposed to go live on the 19th of January. However, it was recommended that they push this back, and so, KAVA 12 will be only be live on the 25th January instead.

About Flagship

Here at Flagship, we make it easy for you to get updated across emerging crypto sectors, through our cross-chain ecosystem of decentralized funds and a network of experts.

  • Join our Discord to be part of our active community and discover new assets and opportunities
  • Check out our website and whitepaper here
  • Get in touch with the team

We’d love to have you onboard!

Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.



Short description

Read more
Go to outpost

Join Our Telegram for Exclusive Market Insights!

Dive deep into the crypto market with our Telegram community, and stay ahead of the curve. It's your daily crypto brew, and it's on the house!

Jump aboard