2022 Desmos Yearly Review
2022 has been quite a year for crypto, to say the least. After a great first quarter, the collapse of huge crypto companies such as 3AC, Terraform Labs, Celsius Network and, most recently, FTX, has started the so-called crypto winter. Many people during this period have left the space, scared by the prices of most of their beloved tokens continously going down.
However, at Desmos, this is not something new for us. We have started building our protocol back in 2019, before the recent bull market, and we now how to stay focused even during harsh times like these. This is why, despite the overall market crash, we have been laser focused on continously building and improving what we had done so far. In this article we’ll go through all what we have done and how this lays down the foundation for the objectives.
January — Osmosis Listing 💱
One very important step for the DSM token was its listing on Osmosis. In January, we decided to create two different liquidity pools: DSM/ATOM and DSM/OSMO. These allowed the community to faily price our token and make sure users willing to purchase it could do so easily.
February — DSM Fairdrop 🪂
On November 2021, at the Cosmoverse Conference in Lisbon, we announced and started the $DSM fairdrop that targeted the users of 11 different chains. After some initial hiccups, the airdrop ended in February with more than 43,000 recipients that created over 29,000 Desmos Profiles, and more than 6.3 million DSM claimed.
March — Desmos Grant Program 💰
Right after the ending of the DSM Fairdrop, we announced the start of the Desmos Grant Program. This was aimed at helping anyone willing to build something on Desmos, to bootstrap their idea by receiving up to 30,000$.
Q2 & Q3 — Uninterrupted building 🔨
After March, the market completely crashed. Despite this, as said initially, we have never stopped building. During this time we focused on our roadmap, and we were able to achieve all the objectives that we had.
Particularly, we completed the development of the Desmos Core modules: profiles, relationships, subspaces, posts, reactions and reports are now stable enough and their features can be used safely from developers.
We also added full support to CosmWasm to our chain, by creating custom bindings that allow developers to easily write smart contracts that use the Desmos Core features.
At the same time, we released a stable version of DesmJS, our TypeScript library that allows builders to develop web and mobile applications on top of Desmos easily. Thanks to it, Web2 developers can start integrating with Desmos in matter of minutes even if they have no knowledge about wallet management or transaction signing.
Paired with DesmJS, we have also released a stable version of our GraphQL endpoints. These allow Web2 developers to easily query the chain state without having to know how to perform complex gRPC queries, combine data and create responsive apps without having to deal with Websockets or other hard-to-manage technologies.
Finally, a couple of weeks ago, we have updated our Desmos Mainnet to have all the new features that we have developed inside our testnet during the last year. Now developers can finally deploy their appliations directly inside our main chain, allowing the more than 29,000 Desmos Profiles to enjoy them.
Special thanks 🙏
This year we were able to achieve a lot of objectives. We not only followed our roadmap, but we also did more: we were able to create a suite of tools that can now be used by Web2 developers to create any kind of social application on top of Desmos.
Thanks to this, we have already started seeing some applications being built on Desmos. This is the case of Go-find.me and the upcoming Scripta. Both of these projects have been extremely supportive of Desmos, allowing us to identify bugs and improvements while still in the testing phase. Without them, some of the features would be incomplete or with bugs inside. For this reason, we own both of them a huge thank you for supporting our project and helping us become better every day 🙏
Another huge thank you goes to all our validators community. Most of them are continously supporting the project despite the market conditions, and all of them have shown a huge responsability during the latest mainnet upgrade. Thanks to all of them, everything went smoothly and we were able to successfuly complete our most important upgrade ever in just 11 seconds. Again, without all of them we could not be where we are now, so thank you 🙏
Looking forward
Even though we have achieved a lot this year, we still have a lot more to come in the next one. For this reason, don’t forget to follow us on our social media and keep up-to-date with what’s coming next. We’re sure you will like it! Until then, the entire Desmos team wishes you a great and happy 2023! 🎉 See you all in what will be the year of decentralized social networks 😉
