Weekly Newsletter: What happened on the Cosmos ecosystem this week? April 29th– May 5th, 2024
Disclaimer: The information contained in this article and the resources available is not intended as, and shall not be understood or construed as, financial advice. Nothing available on this page should be understood as a recommendation to buy something.
The article aims to present five news/announcements that happened last week on the Cosmos ecosystem.
Our goal at Imperator is to help the community by summarising the most important information that should not be missed.
Here is our top 5 for the week. 👇
1) Cosmos DeFi Hub Osmosis to Launch Bitcoin L2
Osmosis, the leading Cosmos ecosystem DEX, plans to introduce “alloyed bitcoin,” a tradable BTC derivative, in June to increase liquidity and enhance security by potentially including it in its staking options
2) First IBC Connection Between Cosmos and BNB Chain by TOKI and XION
TOKI and XION collaborate to establish the first IBC link between BNB Chain and Cosmos, facilitating seamless cross-chain applications and enhancing user experience through Chain Abstraction, integrating advanced security technologies like TEE, MPC, and ZK.
3) Cosmos Hub Q1 Review & Q2 Plans by Informal Systems
Informal Systems wrapped up Q1 with advances in Cosmos SDK upgrades and Interchain Security. Q2 focuses on releasing Gaia v17 with ICS 2.0 and launching new consumer chains. Collaboration with Babylon aims to integrate Bitcoin security, enhancing Cosmos Hub’s appeal.
4) UX and Osmosis Merger Progress: Exploring Future DeFi Pathways
The UX and Osmosis merger explores options ranging from mesh security to a full integration using CosmWasm. The hybrid approach promises enhanced TVL and chain functionality, positioning the merger to potentially transform Cosmos DeFi dynamics significantly.
5) dYdX Chain Hits $31.7B Monthly Trading, Rewards Stakers
In April, dYdX reached a $31.7B trading volume and distributed $5.1M USDC to stakers, totaling $20M since launch. The platform offers an 19% APR, with 150M DYDX staked and 75% of ethDYDX converted to DYDX.
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See you very soon Cosmonaut! ⚛️
The Imperator team.
