New | COSMOS now on imToken: Stake, Send & Receive
Earn tokens by staking your ATOM tokens and send transfers on the new COSMOS blockchain! 👨🚀 Security audited & more features to come.✅
We are very happy to announce supporting COSMOS on imToken. Following Ethereum, Bitcoin, EOS, we now bring you an easy-to-use interface for COSMOS.🌌
In short, the latest imToken version 2.4.0 lets you do a whole bunch of things:
- Send & Receive ATOM (+ technically Cosmos IBC tokens) ✅ (with custom Memo and fingerprint/face-id)
- Delegate ATOMs and earn interest ✅
- Re-delegate to other validators ✅
- Withdraw of delegated ATOMs ✅
- Watch rewards live in your wallet ✅
… becoming the one-stop wallet for an easy, secure & mobile COSMOS experience.
Soon, we will add …
- Voting on governance proposals
- ATOM trading on Tokenlon (now live, see here)
- Basket of multiple validators
- Other Cosmos tokens once enabled by governance vote
👮 As a non-custodial mobile wallet imToken does not hold or have access to user’s funds.
🔑 The new imKey bluetooth hardware wallet that connects to imToken will support ATOMs soon and support for Ledger’s Nano X is in research as well.
Why Cosmos? 🌌
… a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus.
Cosmos sets out to solve two big issues in blockchains — Limited scalability and interoperability between applications — thus, becoming an “internet of blockchains”.
Technically, Cosmos is a network of blockchain (called “Zones”), that are able to communicate through central blockchains called “Hubs”.
Each of the blockchains are able to run different consensus algorithms and different sets of validators, giving each chain its own security assumptions.
For example, a chain with the sole purpose of running the latest game DApp wouldn’t need the same kind of protection against double spending or censorship as a blockchain running million dollar financial applications.
On March 15th 2019, Cosmos launched the Cosmos Hub, the first public Byzantine Fault Tolerance (BFT) blockchain powered by proof-of-stake.
Since Monday this week, Cosmos entered phase 2 of three phases:
- ✅ network gains stability,
- ✅ transfers enabled,
- IBC to be enabled
There are now around 80 projects using the Cosmos SDK for building on top of Cosmos. For more information check out the COSMOS blog.
Through Staking you are locking your tokens and participate in securing and maintaining the Cosmos Hub, for which you are rewarded in the network’s native tokens (ATOMs).
Since staking itself requires running node infrastructure, Cosmos lets you delegate your ATOMs to professional staking services that take a small commission for their service.
According to the current annual inflation rate of ATOM tokens, Stakers can obtain annualized income of 5% to 20% per year (details below).
As a decentralized wallet, we provide you the tools to easily delegate tokens and receive rewards. Read what you can use imToken for below.
Our one-stop Cosmos solution ✅
You can complete all steps for using Cosmos directly in your imToken wallet: Transfers, delegation, re-delegation, withdrawal, voting.
The road ahead: Staking Economy and the future of blockchain 🛣
The popularity of DeFi in 2018 allows us to see many financial models that have never been thought of: MakerDAO has risen in popularity accumulating over 2 million ETH in collateral and over 80mill in total debt; Uniswap has implemented a simple and highly efficient way to bootstrap liquidity on a decentralized exchange.
The Staking Economy — including Cosmos staking — is one of this new and interesting finance spaces. The greatest charm of staking is to earn rewards while successfully securing blockchains.
While the current inflation rate of ATOMs is ~5% per year and the projected rate of return is ~10% per year, leaving you with around 5% return that you wouldn’t earn if you held ATOMs in a wallet without staking.
🌌 Use imToken to stake ATOM with our partners and pay zero commission 🆓 Early birds get another 5% extra! Until May 24th 2019, 24:00 🕛
More on imToken 2.4.0 (in your favorite app store) 📱
Besides Cosmos, this weeks update ‘imToken “Cosmos” 2.4.0’ features:
- Manage multi-chain wallets via an overhauled wallet view
- Create new wallets, in addition to importing
- Trade to better prices, via faster atomic-swap on our Tokenlon
- Earn money and view gains on the Decentralized Finance board
- Stake and transfer ATOM tokens and more
Find out more in the blog post below:
Version imToken 2.4.0 is a major milestone, introducing not only Cosmos staking, transfer, voting but also our new DeFi…medium.com
imToken is the world’s largest Ethereum digital asset wallet, whose users produce ~10% of all Ethereum transactions. imToken provides access to Ethereum, BTC and EOS.
Our amazing new imToken 2.0 International introduces features, such as:
- Earn interest on your COSMOS ATOMs and Ethereum tokens on Compound
- Use Face-ID and fingerprint to send COSMOS, BTC Segwit, ETH, EOS transactions to friends via the decentral address book (synchronized over IPFS)
- One-Click trade on the native Decentralized Exchange: Tokenlon
- Store your tokens securely on your old mobile phone using the secure Cold Wallet setup or get imKey
- Check out DApps in the open DApp browser