COSMOS CRYPTO NEWS: ATOM, TIA, DYDX, AKT & MORE!!

Hello, Cosmonauts!
Get ready to zoom through the galaxy of crypto Cosmos with our sizzling second June edition of Cosmos Ecosystem News! In this episode, we’re diving into groundbreaking updates, fresh off the blockchain. From the thrilling integration of IBC with Cardano to the dynamic upgrades across the Interchain cosmos, we’ve got your ticket to the stars. So buckle up, hold onto your helmets, and let’s blast off into another exciting episode of celestial discoveries and interstellar breakthroughs. It’s time to get your crypto thrusters to full blast!

COSMOS HUB AND CONSUMER CHAINS: Cardano integrates IBC, Permissionless ICS is set to launch, Slinky Oracle Module is live, Gaia v18 Upgrade, Elys Network Consumer Chain, Neutron V4 and Interchain Account on Neutron, and more

NAMADA: Shielding Summit, Initial Parameters for Namada Mainnet Launch

DYDX v4: dYdX v5.0 and Slinky integration

OSMOSIS: Smart Accounts coming to Osmosis, nBTC Revenue Sharing with Nomic

KUJIRA: Kujira Core v1.1.0 is live

CELESTIA: Alt-DA Beta OP Stack Integration, Modular Summit 3.0 in Brussels, RISC Zero zkVM

SEI: Stargate v2 integration

PERSISTENCE: Skip API integration for cross-chain

SECRET NETWORK: ALEXANDRIA upgrade, Confidential Computing Layer integration with Optimism

AKASH: DePIN Summer event, AKT listed on Kado

OTHER ECOSYSTEM NEWS: Berachain Proof of Liquidity, Penumbra’s UM Airdrop, Synternet Mainnet

All this and much more. Let’s dive in and unpack the biggest news within Cosmos:

Cosmos Hub and Consumer Chains (Neutron & Stride)

Interchain Foundation Expands Board of Management with New Appointments.
The Interchain Foundation (ICF) has announced the appointment of Alix Keller as Chief Product Officer (CPO) and Nico Poggi as Chief Marketing Officer (CMO). This strategic expansion is set to enhance the foundation’s capacity to drive the growth and adoption of the Interchain ecosystem. Josh Cincinnati, previously the founding Executive Director at the Zcash Foundation, was also announced as the new President of the ICF.

Cardano Integrates IBC Protocol to Enhance Connectivity with Cosmos and Ethereum. Cardano has taken a significant step forward by integrating the Inter-Blockchain Communication (IBC) protocol to enhance connectivity with Cosmos and Ethereum. The IBC framework allows for reliable transactions and data exchanges across distinct blockchain networks.

Valence Protocol: Upcoming Cross-Chain Protocol
Timewave has introduced the Valence Protocol, a pioneering cross-chain protocol designed to facilitate seamless programmatic relationships among crypto-native organizations. The introduction of Valence Protocol comes as part of Timewave’s mission to develop tools that enhance long-term, permissionless collaboration across the interchain, thereby expanding the scope and scale of what crypto-native organizations can achieve together.

Jehan from Informal Systems Announces Permissionless ICS
Jehan introduces Permissionless Interchain Security (ICS). This update will allow anyone to launch a chain on the Cosmos Hub without requiring prior permission, marking a significant step forward in the evolution of Interchain Security.

Neutron V4 Launches Slinky Oracle Module
Neutron has announced the introduction of the Slinky oracle module as part of its Neutron V4 update, developed by Skip Protocol. Slinky is bringing oracles on-chain, providing faster and more secure price feeds. Validators will host a lightweight tool, the Sidecar, to publish data without initial penalties for non-compliance.
The proposal seeks 360,000 NTRN from the Cosmos Hub community pool to incentivize validators based on their Slinky Beta performance.
The Beta phase aims to ensure smooth onboarding and operational stability. Validators are eligible for rewards of up to 2000 NTRN for maintaining high uptime, further solidifying Neutron’s position in the Cosmos DeFi space.

Gaia v18 Upgrade Proposal Under Review on Cosmos Hub Forum
The draft proposal for the Gaia v18 upgrade is live. This major release will be subject to the standard governance process, with an initial review period on the forum for community feedback. Extensive testing has been conducted to ensure stability, including e2e tests, integration tests, and independent testing by Hypha Co-op.
Validators and node operators are invited to join public testnets for further validation before the final release. Based on this feedback, the proposal will be adapted and submitted for an on-chain governance vote. If approved, validators must update the Cosmos Hub binary at the specified halt height.

Proposal to Launch Elys Network Consumer Chain
The Cosmos Hub forum has received a draft proposal to launch Elys Network as an opt-in consumer chain. This proposal seeks to add Elys Network under the Interchain Security (ICS) model, with validators having the freedom to opt in or out of its validator set at any time. The current technical limitations involving the chain_id prevent a fully permissionless launch of the chain.

Proposal to Upgrade Neutron to V4
A proposal has been submitted to upgrade the Neutron codebase to the v4.0.1 tag at block height 12255555, estimated to occur on July 10th, 2024, at 14:30 UTC. The upgrade will integrate Skip’s Feemarket and Slinky, an on-chain consensus-level oracle. Validators are required to run the Slinky Sidecar. Cosmos Hub proposal 931 outlines an incentive program for validators running Slinky on Neutron for the first three months, with performance-based incentives.

Anchorage Digital Now Offers Institutional Custody for STRD
Anchorage Digital, home to the only federally chartered crypto bank in the United States and a leading custodian, has announced that it now offers institutional custody services for STRD. This development allows large holders to store their STRD tokens safely, securely, and in compliance with regulatory standards, enhancing the security and trust in handling crypto tokens.

New Airdrop Announced for Stride LST Holders by ElectronDeFi
ElectronDeFi, a new decentralized exchange (DEX) set to launch on the Neutron network, has announced an upcoming airdrop of its ELE token. The airdrop will target holders of stATOM, stOSMO, stTIA, stDYDX, and other eligible groups. ElectronDeFi is the first DeFi/DEX protocol designed to integrate Real-World Assets (RWAs) on the Neutron network.

stDYDX Airdrop Checker Now Available
Stride has released an airdrop checker for stDYDX holders. Claims will go live in the first week of July.
From February to June, 150,000 STRD was allocated daily to over 15,000 addresses holding stDYDX for at least 24 hours. This included stDYDX used as collateral or provided as liquidity, across all standard Cosmos chains except Secret Network due to privacy features.

Cosmos Hub’s Governance-Controlled Interchain Account on Neutron
The Cosmos Hub’s recent upgrade enables the creation of Interchain Accounts (ICAs) on remote chains directly controlled by the Hub’s governance. This proposal seeks to establish a general-purpose ICA on Neutron for various future use cases. The primary aim is to transition the Hub’s three current liquidity-sharing deals from a multisig controlled by AADAO to a trustless solution.

Namada

Shielding Summit to Take Place on July 10th in Brussels
The Shielding Summit, an essential gathering for the Web3 shielding community, is set to occur on July 10th during ETHCC Week in Brussels. This event aims to bring together founders, builders, and policy advocates focused on advancing technology and discussions around personal data protection in Web3.

Knowable Team Proposes Initial Parameters for Namada Mainnet Launch
The Knowable team, led by Gavin, has proposed an initial set of parameters for the anticipated launch of Namada’s mainnet. This proposal, ahead of the expected mainnet launch, aims to establish a robust and decentralized governance and operational framework for the Namada network.
The detailed proposal includes foundational elements such as a staking inflation rate initially set at 0%, with a proposed maximum of 5% to incentivize staking 40% of the token supply, and the establishment of 255 validators in the active set to ensure a low barrier to entry and maintain network performance.

dYdX v4

dYdX Chain v5.0 Launches with Major Upgrades
dYdX has announced the release of its v5.0 update, introducing some of the most significant advancements since the chain’s launch on Cosmos ecosystem. This update brings isolated markets and isolated margins, protocol-enshrined LP vaults, Slinky Sidecar and Raydium integrations, batch order cancellations, signature verification parallelization, a soft open interest cap, and full node streaming.
This integration allows dYdX to update prices with less than one-second refresh rates and introduce over 5,000 new isolated markets, laying the groundwork for permissionless market creation.

Osmosis

Osmosis Passes Proposal to Enable Smart Accounts
Osmosis has successfully passed Proposal 796, which introduces Smart Account functionality to the platform. The voting period for this proposal lasted from June 19th to June 24th, 2024, and concluded with an overwhelming 99.63% of votes in favor.

Osmosis Approves nBTC Revenue Sharing with Nomic
Osmosis has approved Proposal 795, introducing a new protocol revenue-sharing arrangement with Nomic. The proposal was open for voting from June 17th to June 22nd, 2024, and received outstanding support, with 93% of participants voting in favor. This initiative is set to eliminate Bitcoin bridging fees in exchange for a share of the taker fees generated from trading nBTC on the Osmosis platform.

Kujira

Kujira Core v1.1.0: Major Enhancements and New Features
Kujira has rolled out the v1.1.0 update, bringing several key features and improvements to its ecosystem, including the much-anticipated Passkey support. The integration of Passkeys offers a more secure and user-friendly alternative to traditional seed phrases. Passkeys leverage WebAuthn public keys and are safeguarded by your mobile device’s Secure Enclave, with the option to securely back them up to the cloud.

Celestia

Celestia Powers Alt-DA Mode Beta for OP Stack Integration
The OP Stack has launched the Alt-DA Mode in its beta version, marking a significant milestone in decentralized data availability (DA) integration powered by Celestia. This new feature allows any DA layer to build and integrate its own DA server into the OP Stack, enhancing flexibility and scalability for developers.
Celestia, EigenLayer, and Avail, three of the most popular decentralized DA layers, have already launched their DA servers. With the first 15 chains already live, Celestia stands out as the first permissionless, decentralized DA layer available for production use with the OP Stack.

Celestia to Host Modular Summit 3.0 in Brussels
Celestia, in collaboration with Maven11, is set to host the highly anticipated Modular Summit 3.0 in Brussels, Belgium, from July 11 to 13, 2024. This three-day event, themed “Modular Expansion,” promises a series of curated tracks, workshops, and official side events, attracting a diverse array of blockchain enthusiasts, developers, and industry leaders.

Hyperlane Expands Modular Interoperability with Renzo Protocol
Hyperlane, in collaboration with Renzo Protocol and Everclear, has announced the expansion of its permissionless interoperability to more chains through the Renzo Bridge. This initiative aims to scale ezETH to new chains. With support for xERC20s and an out-of-the-box bridging and UI experience, Renzo can now reach numerous new chains and virtual machines. The integration ensures fast and secure transfers, further bolstered by additional validation from Renzo Protocol and Everclear.

RISC Zero Launches zkVM 1.0
RISC Zero has announced the official release of zkVM 1.0, a groundbreaking development in verifiable computing. The launch marks the culmination of meticulous preparations that began in Q1, with significant contributions from the community and partners. This new version promises to redefine the standards for zero-knowledge virtual machines (zkVMs), offering industry-leading performance and cost-efficiency.
RISC Zero’s zkVM 1.0 significantly outperforms its competitors, particularly in general-purpose computing tasks. Independent benchmarks conducted by the Valida team and RISC Zero’s internal tests reveal that zkVM 1.0 is faster and more cost-effective than its closest competitor, Succinct’s SP1.

Sei

Sei Integrates Stargate v2 for Enhanced Cross-Chain DeFi
Sei Network has announced its integration with Stargate v2, a leading liquidity layer designed to enhance omnichain decentralized finance (DeFi). Stargate, known for its composable and cost-efficient solutions, will now bring its advanced features to Sei Network, offering users improved interoperability and transaction efficiency.

Persistence

Persistence DEX Integrates with Skip API for Enhanced Cross-Chain Functionality
Persistence DEX has announced its integration with the Skip API, enhancing its capabilities for cross-chain swaps and DEX aggregation. This integration allows Persistence DEX’s liquidity pools to be used for cross-chain trading and swaps via ibc.fun, a leading Automated Market Maker and DEX aggregator built on the Skip API protocol. This can ultimately lead to an increase in trading volume and better trading rates for users.

Secret Network

Shade v2.1 Upgrade ALEXANDRIA is LIVE
Shade Protocol has officially launched its Alexandria upgrade. Alexandria introduces a comprehensive suite of new features designed to improve transparency and introduce innovative DeFi tools. Notably, the Alexandria upgrade brings an advanced Analytics tab and a comprehensive Prices tab, as well as the introduction of the SHD liquid staking token (dSHD).
With over $350 million in trading volume and 40 million TVL achieved to date, Shade Protocol continues to push the boundaries of privacy-preserving and censorship-resistant DeFi.

Secret Network’s Confidential Computing Layer Integrated with Optimism Mainnet
Secret Network has announced a groundbreaking integration of its Confidential Computing Layer with Optimism Mainnet, a leading Layer 2 scaling solution for Ethereum. This integration brings decentralized confidential computing (DeCC) capabilities to the OP Mainnet ecosystem, enhancing the privacy and security of decentralized applications (dApps).
This integration unlocks powerful new features for dApps on OP Mainnet, including Private Voting for DAOs, Encrypted Storage, Secure Random Number Generation, Confidential Data Linked to NFTs, Sealed-Bid Auctions, and Encrypted Order Books for DeFi.

Akash

Akash Network DePIN Summer Series Kicks Off in NYC
On June 27th, the Akash Network hosted the first of four events in its DePIN Summer Series. The event took place at Toro Loco FiDi in New York City and featured key speakers from prominent projects within the blockchain and tech space.

Akash Network’s AKT Now Live on Kado
Akash Network has announced that its native token, AKT, is now live on Kado, a leading platform for digital asset onboarding. This integration enables users in over 150 countries to seamlessly purchase AKT using credit cards, bank transfers, and Apple Pay. Kado’s robust infrastructure significantly simplifies the process of accessing AKT, making it more convenient for users worldwide to onboard to the Akash ecosystem.

Other ecosystem news

Berachain Introduces Proof of Liquidity
Berachain has unveiled its Proof of Liquidity (PoL) consensus mechanism. This innovative system, integrated with Berachain’s tri-token model (BERA, BGT, and HONEY), aims to transform how applications and users interact within the ecosystem.

Penumbra’s UM Airdrop
Penumbra is set to decentralize its network with the launch of the UM airdrop, targeting key contributors and active interchain users in the crypto space. The UM airdrop is a unique initiative to fully decentralize Penumbra by collecting address balances needed to propose a genesis block to a collectively selected set of genesis validators. Penumbra supporters and airdrop recipients can pre-stake their claimed UM tokens.
The airdrop claim period was extended to June 27th.

Synternet Mainnet Launches on Cosmos Network
Synternet, a blockchain that powers modular, interoperable data infrastructure across major chains, has officially launched its mainnet on the Cosmos network. The mainnet launch also marks the beginning of the token migration from NOIA to SYNT. This launch lays the foundation for a decentralized data economy and enables developers to create innovative applications using real-time, trustless data streams from all major chains.

Crypto regulations & compliance news with MME

SEC Files Lawsuit Against MetaMask for Violating U.S. Securities Laws
On June 28 204, the U.S. Securities and Exchange Commission (SEC) sued Consensys alleging that the swaps and staking features of the MetaMask wallet violated federal securities laws by functioning as an unregistered broker and offering unregistered securities. The suit also targets the liquid staking protocols Lido and Rocket Pool, referring to stETH and rETH tokens as unregistered securities. The lawsuit, filed in the U.S. District Court for the Eastern District of New York, claims that Consensys facilitated millions of crypto transactions, including at least 5 million involving “crypto asset securities.”
Consensys responded by criticizing the SEC’s actions as regulatory overreach and reiterated its stance that the MetaMask wallet should not be regulated under securities laws. The company had previously sued the SEC seeking to prevent the regulator from labeling MetaMask as a broker or its staking service as violating securities laws. This previous lawsuit, filed in Texas, also sought a judicial declaration that ETH is not a security.

Circle the First Stablecoin Issuer Licensed Under MiCA
Circle Mint France has become the first global stablecoin issuer to obtain an Electronic Money Institution (EMI) license, enabling it to offer dollar- and euro-pegged crypto tokens in the European Union (EU) under the Markets in Crypto Assets (MiCA) regulatory framework. With the license from the French banking regulatory authority, Circle will issue its EURC stablecoin and USDC within the EU, following new regulations that took effect on June 30 2024.

Conclusion

Alright, Cosmonauts, we’ve reached the end of our cosmic journey this month! If you loved zooming through the galaxy of updates with us, don’t forget to smash that like button and leave a comment below with your thoughts or what you’d like to see next. Your insights are our stardust! And if you haven’t yet, hit that subscribe button and turn on notifications to keep up with all the thrilling developments in the Cosmos ecosystem. Until next time, keep exploring the universe of crypto, and remember, the sky’s not the limit — it’s just the beginning!

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