Cosmos Monthly report — October 2022
This month’s trends, key metrics, and developments within the Cosmos Ecosystem.
This month in particular has been a slow month for Cosmos, which seems reasonable since the macro-economy hasn’t been looking very good. However, that doesn’t mean that teams have been stalling, but rather working on fundamental things that will impact the future of Cosmos, such as the planning of ATOM 2.0, the Charter and much more.
Let’s take a look at the developments that has happened over the past month.
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Cosmos IBC celebrates it’s one and a half year milestone. It’s been 18 months since the first cross-chain IBC transfer occurred successfully between two sovereign chains. The historic transaction that marked the start of multiple breakthroughs within IBC in the coming months can be seen here… and we’ve not stopped there. Just this month, the first ever IBC transaction occurred on the testnet.
The growth for IBC has been linear. Following on the news of this historic month, there is now a dashboard which allows you to see the growth of IBC, and it has been linear. Check it out here.
Game of Chains, the sequel to the past testnets. The Game of Chains is not a physical game, but the 3rd public testnet in the history of Cosmos. Following acceptance of proposal 77 from the Hub, registration for the Game of Chains, which will set the footing for Interchain Security, is now happening for validators who are interested in participating in Interchain Security until November 7.
An exclusive look at Secret 2.0 that is coming soon. Just this month, Guy teased of Secret 2.0 with a 5 minute read about the past, present and future of Secret, including some features from Secret 2.0 and you can read it here.
Rovers: The new DeFi primitive on Mars v2. Mars v2 will introduce a new primitive called Rovers, which is a all-in-one decentralized credit account with one liquidation point to engage in anything DeFi. Learn more about Rovers, and how it works over here.
$IST: The new stablecoin in the block. $IST is an overcollateralized, cryptocurrency-backed stablecoin built on Agoric, and it will be launching soon alongside its various modules such as the Parity Stablility Module (PSM). Learn more about it here.
pSTAKE sets the stage for stkATOM. pSTAKE, the liquid staking protocol that supports BNB, XPRT and ETH tokens has now finalized the technical details surrounding stkATOM and is now in the final stages before launching stkATOM. Learn more about the details here.
Emissions from the recent ATOM 2.0 WP has been updated. Following the preliminary discussions which surrounded the proposed ATOM 2.0 whitepaper, the core team working on making ATOM 2.0 happen has updated the emission schedules. Check it out here.
The draft of the Cosmos Hub Charter is now out. Alongside the new emission schedules, the working draft of the Charter has also been put up for discussion. Do share your thoughts and read it thoroughly here. Exciting times!
A new and updated developer experience. This month, the Interchain developer portal has went through a massive revamp, which makes it much easier for developers to onboard to learning everything Interchain. Check it out here.
Telescope is now merged into CosmJS. For the nerds out there who are building on Cosmos, Telescope is now merged into cosm-js, and is planned to be released before Christmas. Check out the announcement from Confio here.
In this section, we go through some of the on-chain analytics to see what’s been happening in the broader Cosmos ecosystem for the month of October.
Based on transaction count, we see that Kujira has turned up again into the top 10 chains by transaction count, following news from them regarding a mobile wallet coming soon alongside a few other updates such as BOW, a liquidity Hub and connections to/fro Polkadot. Sifchain (ROWAN) has also had an increase in transaction count, but I think this was partly due to people moving their assets out of Sifchain for now due to the recent proposals.
Now, reverting to the IBC volume of all the chains, we see that while Sifchain had a lot of TX count in the past month, this was mostly internal. We are also seeing a lot of capital moving into Stride, most likely for liquid staking of ATOMs and such, which is exciting to see as Stride is now one of the top 10 chains based off IBC volume alone.
That will be it for the updates for Cosmos this month!
I hope that this update has been insightful, and you took away something or a play that’s valuable for you. If this update helped, do leave a comment, like this article, and follow Flagship for more articles like this. More importantly, join our Discord!
Until then, see you in our next Cosmos update.
And as always, stay safe!
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