Accelerating Growth in Cosmos
Introduction: Cosmos Millions Idea
Cosmos Millions is an initiative born in response to the need for growth-enhancing applications within the Cosmos Ecosystem during periods of constrained resources and limited attention. The project was inspired by the availability of Inter-Blockchain Communication (IBC) and Interchain Accounts (ICA) across most networks, allowing the construction of efficient cross-chain Decentralized Applications (dApps).
Cosmos Millions, in line with the broader vision for the Cosmos Ecosystem, seeks to promote collective growth.
Part I: Cosmos Millions — User Acquisition and Retention
Cosmos Millions emulates the impactful strategy of Ethereum’s Pool Together which successfully attracted over 60,000 users, securing the 9th position in the list of most used dApps, despite the bear market. By presenting Cosmos Millions as an analogous entry point, we aim to attract existing Cosmos users and users from other ecosystems like Ethereum, Solana, Avalanche…
Our approach consists of creating diverse token pools within the Cosmos Ecosystem, such as OSMO, JUNO, STARS, HUAHUA, and others.
Moreover, we are working towards establishing a pool for CRO tokens. The Crypto.com platform, built on Cosmos technology, commands a global user base of 80 million and a Twitter account five times bigger than Cosmos. This pool will incentivize the Crypto.com community to explore the Cosmos Ecosystem, discover new pools, and engage with other products and networks within our fold, such as Mintscan, Stargaze, Osmosis, Stride, and more.
This strategy of diversification and expansion is aimed at fostering wider interest, engagement, and accelerating the growth of the Cosmos Ecosystem.
Part II: Deposit Drops — An Innovative Feature
Cosmos Millions introduces Deposit Drops, a feature where the Winner Address is not equal to the Depositor Address. Meaning that the Depositor in this case transfers chances to be selected during Prizes Draws to a chosen wallet address.
Illustration: Bob send a Deposit Drop of 5 ATOM to Alice for a specific duration, such as six months. Alice automatically participates in Cosmos Millions with these 5 ATOM and gets a chance to win prizes for free during 6 months.
Deposit Drops present an array of use cases. For example, they can be used as airdrops to promote a project, but over an extended duration, ensuring sustained engagement.
New projects can use this feature to build hype and engagement from the get-go. Additionally, influencers and validators can use Deposit Drops to generate added value and engagement, thereby expanding their influence and impact.
Cosmos Millions’ mission is simple yet potent: attract and onboard new users to the Cosmos Ecosystem, thereby acting as a robust marketing tool for Cosmos.
Part III: Financing Public Goods in the Ecosystem
Cosmos Millions is a comprehensive project focused on stimulating growth, funding public initiatives, and supporting the Cosmos Ecosystem. Its foundation lies in creating substantial prize pools to attract user participation and community engagement.
The concept of using prize-linked savings systems to finance public initiatives has historical precedence dating back to the 17th century. The modern prize-linked savings account (PLSA) is an updated version of this concept, tailored for the digital age and the realm of cryptocurrencies.
To implement this sustainably, we’re considering various strategies, such as redirecting fees to community pools. Nevertheless, we remain open to exploring other feasible paths. For our vision to materialize, it’s crucial that we start with significant prize pools.
Conclusion: Building a Supportive Community for Future Growth
Cosmos Millions needs an active, supportive community to prosper. The establishment of attractive prize pools requires initial contributions, and user attraction relies on these pools not starting empty.
Our appeal extends to the robust Cosmos community to assist in bootstrapping these pools. Our reliance is not solely on grants like the one from Atom Accelerator DAO, but also on the proactive participation from the community.
Reflecting on PoolTogether’s success story, kick-started with a $100k grant from Coinbase and subsequently bringing in millions through sponsorships, demonstrates a significant strategy for Cosmos Millions.
An integral part of this strategy relies on community support. It’s clear that active participation and endorsement from the Cosmos community are essential.
In our drive towards long-term prosperity, we are guided by principles of decentralization, sovereign networks, and a community-centric approach, making community involvement a critical component in the successful realization of this initiative.
Together, we aim to establish Cosmos Millions as a key pillar of the Cosmos Ecosystem, accelerating growth, value, and opportunities for all Cosmonauts.
We express our gratitude for your support on this journey and eagerly anticipate your active participation and valuable feedback.
Join the Community ⚛
- Twitter: https://twitter.com/CosmosMillions
- Discord: https://discord.gg/KwyVvnBcXF
- Website: https://cosmosmillions.com
- Lum Network Twitter: https://twitter.com/lum_network
