Cøsmos Network: Interchain is already worth $60B+ with 25 chains, The Vega upgrade on 14 Dec, The Gravity Bridge Chain is coming to Cosmos, ICF Grantee Datachain collaborates with JCB CARD, Chainlink Keepers now live on Binance Smart Chain, e-Money-Avalanche Bridge is here, Kava partners with Nervos, Injective Burn Auction has launched, UFC drops its second NFT collection with Crypto.com, and more!
Biweekly update on the Cosmos ecosystem vol. 61, 29th November — 13th November
Greetings, Space Cowboys and Astronaut Girls! Welcome to our fresh issue of ‘Cosmos biweekly’!
Good news is, the Internet of Blockchains is growing fast. Interchain is already worth $60B+. In just 8 months since IBC launched, 25 chains worth $60B+ combined have joined the IBC Gang sending over 5.8M transactions! Plus, in 2022, Cosmos will connect to Bitcoin, Polkadot, Celo, Hyperledger & more through IBC.
What’s more, Cosmos Hub validators need to prepare for the Vega Upgrade. The upgrade will take place at block height 8695000, estimated to happen on December 14th at ~6am UTC. Find instructions and details on Cosmos GitHub.
The biggest HackAtom in Cosmos history is almost over, offering developers around the world the chance to compete for their share of a massive $1,000,000 of ATOM in prizes. Join the Demo day virtual event on Tuesday, December 14, and watch the Closing ceremony on Thursday, December 16. More information below.
These weeks, Tendermint CEO Peng Zhong sat down with Crypto Briefing to discuss the key developments in the fast-expanding Cosmos ecosystem. Also, CryptoSlate recently had the opportunity to chat with Peng Zhong on the recent developments. A must-read!
As for the Cosmos ecosystem news: The Althea team is working closely with the Interchain Foundation to support Gravity Bridge renting security from the Cosmos Hub, allowing us to improve the security of the Gravity Bridge with the value of the Cosmos Hub’s staked tokens. Chainlink Keepers is now operating live on the Binance Smart Chain Mainnet as the recommended solution for BSC developers who need secure smart contract automation services. ICF Grantee Datachain announced their collaboration with JCB CARD, world’s 5th largest payment company, to build a Digital Currency Exchange Platform using IBC. The Injective Burn Auction has launched. Polygon welcomes Mir Protocol, a groundbreaking ZK startup in a $400M deal. Native UST and LUNA transfers from Terra to Injective via IBC are now live. e-Money-Avalanche Bridge is here enabling two-way transfers between e-Money and Avalanche. Sienna Network and Band Protocol partner on real-time price data for SiennaLend. Nervos will be integrating the Kava network with their cross-chain Force Bridge product to enable the bridging of liquidity between Kava and Nervos. BitSong launches first liquidity mining incentive programs on Osmosis. UFC drops its second NFT collection with Crypto.com. Oasis users will be able to use the Wormhole bridge to move tokenized assets seamlessly across blockchains. Sentinel announced the first distribution round of node rewards. IDENA has reached 12K+ validated identities. Secret Network Ecosystem Update is here. IRISnet Monthly Update is out. Kadena’s Marmalade NFT is live on testnet now. Persistence Community Newsletter #14 was published. Coinbase lists Bluzelle (BLZ). And more!
That’s a wrap! The future is multichained and IBC is the key!
Development
Github metrics:
IBC Update — The Internet of Blockchains Is Growing Fast
Interchain Already Worth $60B+. In just 8 months since IBC launched, 25 chains worth $60B+ combined have joined the IBC Gang sending over 5.8M transactions! Plus, in 2022, Cosmos will connect to Bitcoin, Polkadot, Celo, Hyperledger & more through IBC.
Cosmos Hub Vega Testnet Update
Cosmos Hub validators, prepare for the Vega Upgrade. The upgrade will take place at block height 8695000, estimated to happen on December 14th at ~6am UTC.
Instructions and details:
The Gravity Bridge Chain is Coming to Cosmos
In 2020, Althea started looking into how they could build a bridge between Ethereum and Cosmos chains.
In the early summer of 2021, Althea asked the Cosmos community with a signaling proposal if the Gravity bridge should be implemented as a module on the Cosmos Hub. This vote indicated the community was in favor. The proposal contained no monetary value or payout and left open the exact manner and timing of implementation and deployment. After discussions with Hub maintainers, the module readiness committee, and other Cosmos blockchains, it became clear that the Hub takes a safe and conservative pathway, and not the quick and iterative model better for the bridging needs in the Cosmos ecosystem. This would delay deployment and preclude many in the Cosmos ecosystem from participating.
With interchain security development moving rapidly forward, an alternative plan was hatched that would see an independent Gravity Bridge blockchain which uses Interchain Security to rent security from the Hub while still having an independent development cycle — the best of all worlds. Interchain security will allow ATOM holders to earn staking rewards on many different cosmos chains, including the Gravity Bridge Chain.
The Gravity Bridge Chain will also have it’s own token, Graviton, (GRAV), and a decentralized validator set, which can be used to boost adoption through strategic incentives. The ATOM token wasn’t built for that kind of use and having an extra token support adoption would go a long way in ensuring the success of a primary Cosmos Network bridge to Ethereum. For these reasons, the Althea team now believes that the most effective use of the Gravity Bridge technology, that most benefits ATOM holders and the Cosmos Ecosystem, is as an independent chain instead of as a module on the Cosmos Hub directly.
The team has been working closely with the Interchain Foundation to confirm these product features and has found great feedback on how to make sure that a Gravity Bridge Chain will be good for ATOM holders and the Cosmos Ecosystem at large.
A purpose-built chain, meeting the needs of the community, and bringing value to ATOM is a win for the ecosystem, allowing the more agile development to meet the needs of Cosmos chains seeking to interoperate with Ethereum. Moreover, upgrading the Gravity Bridge Chain to use interchain security allows us to future-proof this key infrastructure for years to come.
The Althea team is working closely with the Interchain Foundation to support Gravity Bridge renting security from the Cosmos Hub, allowing us to improve the security of the Gravity Bridge with the value of the Cosmos Hub’s staked tokens.
Cosmos Governance
- Proposal #59 is in the deposit period.
- Cosmos Proposal #58 passed successfully [Signal Proposal: Adopting the Budget and Farming Modules on Cosmos Hub] This signal proposal is to ask Atom stakers about adopting Budget and Farming modules on Cosmos Hub for general utility incentivization mechanism in near future.
Find the latest governance proposals here.
Awareness and Events
- Cosmos Signal airs this Sunday:
- Tendermint CEO Peng Zhong Reveals the Future of Cosmos: Tendermint CEO Peng Zhong sits down with Crypto Briefing to discuss the key developments in the fast-expanding Cosmos ecosystem.
“We are trying to bring as many developers as possible to the Cosmos ecosystem.”
- Catching up on the Cosmos ecosystem with Tendermint CEO Peng Zhong | CryptoSlate: CryptoSlate recently had the opportunity to chat with Peng Zhong, the CEO of Tendermint.
“We will easily see 200 chains connected via IBC by this time next year and, in the long term, even a million.”
HackAtom VI is here
The biggest HackAtom in Cosmos history is almost over, offering developers around the world the chance to compete for their share of a massive $1,000,000 of ATOM in prizes. HackAtom VI lasted for an entire month online and was accompanied by in-person events in major world cities, including Lisbon and Berlin. This year’s competition was spread out over six exciting themes: Ethereum on Cosmos, Starport, Interoperability, DeFi, End-User apps, and Gaming.
HackAtom VI Key Dates
- Voting for Community Choice Award: Thursday, Dec 9–14 @ 20:00 CET
- Demo day (virtual event): Tuesday, Dec 14 @ 19:00 CET
- Closing ceremony + Winners Announced (virtual event): Thursday, Dec 16 @ 20:00 CET
Watch all replays here.
- Interchain.fm new episodes: Axelar: Bridging PoW Chains (BTC, HNS, DOGE, LTC) to Cosmos’ PoS Ecosystem
Finance
Information from Mintscan.io:
Cosmos Markets
Information from Coinmarketcap.com:
Information from Coinlib.io:
Top Cosmos Ecosystem Coins by Market Capitalization:
Cosmos Roadmap:
The Cosmos Hub Roadmap 2.0
Earlier this year, Cosmos completed its whitepaper, fulfilling its founding vision of blockchain interoperability, scalability & usability that was laid out in the original 2016 roadmap. Today the Inter-Blockchain Communication (IBC) protocol, enabling the transfer of digital assets & messages between Cosmos chains & more, lifts the Cosmos Hub to new levels of scalability & utility. Discover those key developments that are bringing the cross chain and DeFi future to the Cosmos Hub:
- Liquidity Protocols
- Staking Derivatives
- Interchain Staking & Accounts
- NFTs
Ecosystem updates
Akash Network:
- IBC: What You Need to Know
- Akash and Polygon Offer Decentralized Infrastructure to dApp Developers
- The Future of Decentralized Cloud Computing
- Thoughts after my 3-week experience of Akash
Althea Network:
- The Gravity Bridge Chain is Coming to Cosmos
- The Althea team began preparations for the Althea blockchain launch.
Binance (BSC):
- Chainlink Keepers Now Live on Binance Smart Chain for Securely Automating Smart Contract DevOps: Chainlink Keepers is now operating live on the Binance Smart Chain Mainnet as the recommended solution for BSC developers who need secure smart contract automation services.
- Ankr Contributing to BSC, Implements Erigon Performance Upgrade: Ankr implements the Erigon client to improve efficiency in data storage and increase Binance Smart Chain performance in several key ways.
- Binance Smart Chain and Animoca Brands Set Up $200m Investment Program for Blockchain Gaming Projects
- Binance.US Rolls Out BEP-20 Withdrawals & Deposits: The US-based cryptocurrency exchange Binance.us recently enabled withdrawals and deposits for 25 BEP-20 tokens running on Binance Smart Chain.
- How to Keep BSC Validator “Active”: Making BSC Attractive through transparency and confidence.
- BSC $1B Fund: November Monthly Update: Discover what happened in the BSC $1B Growth Fund over the past month.
- Find the latest BSC news here.
BitSong:
- BitSong launches first liquidity mining incentive programs on Osmosis: You can now earn rewards in BTSG token, as well as a share of pool transaction fees, for staking BTSG liquidity in their decentralized pools on Osmosis.
- BitSong is on COSMOSCAN
Crypto.com:
- Crypto.com Supports Cosmos’s Mainnet Upgrade: Temporary suspension of ATOM transfers on 14 December 2021 Cosmos Hub has announced the Vega upgrade, which will introduce various new features and major upgrades.
- Crypto.com First FinTech Company To Achieve Singapore’s Data Protection Trust Mark
- UFC Drops Its Second NFT Collection With Crypto.com
- Crypto.com App Now Offers Instant Deposit to U.S. Users
- Exclusive Soft Staking Rewards Now Available for Retail VIPs and Institutional Users
- SHIBUSD, ENSUSD, and CHRUSD Perpetual Contracts Are Now Available in the Crypto.com Exchange
- New Leveraged Pairs Added to Margin Trading on the Crypto.com Exchange
- Crypto.com App IMX Net Deposit Competition Leaderboard
- Crypto.com App Lists JasmyCoin (JASMY), Gods Unchained (GODS), Orchid (OXT)
e-Money:
- e-Money Monthly Updates
- e-Money-Avalanche Bridge is here enabling two-way transfers between e-Money and Avalanche
- Lockness Payment Platform explores e-Money’s Suite of European Stablecoins
- Rario, World’s First Officially Licensed Cricket NFT platform to explore e-Money’s Suite of European Stablecoins
Injective
- Injective Burn Auction Launch: The Injective Burn Auction has launched. Injective will burn 60% of exchange fees every week, leading to one of the largest token burning ratios in the entire crypto industry alongside a potentially ultrasound deflationary INJ token
- The First Injective Premier Metaverse Listing: GuildFi: Injective announced its first premier metaverse listing of GuildFi ($GF). Starting now you can begin to deposit funds onto the Injective Chain for zero gas fees
- Gas Free Deposit Program Launch: Injective is launching gas free deposits have started
- Injective November Update: Mainnet and Astro Incentive Program Launch
- ETH/USDT Perpetual Market Relaunch
IRIS Network:
- IRISnet Monthly Update: 2021.11 — Technology & Ecosystem & Community Recap
- NFTs Travel From WenChang Chain to Ethereum through IRISnet to Support Global Commerce
- Find the latest IRISNet proposals here.
Kadena:
- Mint a Marketplace! NFTs on Kadena Marmalade (Part 1): Kadena is making NFTs work for both creators and buyers to innovate in ways never before seen. Don’t just mint tokens, mint marketplaces.
- Mint a Marketplace: NFTs on Kadena Marmalade (Part 2): Go deep into the standards and Pact implementations to start minting marketplaces right away on testnet.
- Marmalade NFT is live on testnet now:
Kava:
- Kava Labs Partners With Nervos to Provide Cross-Chain Liquidity: Nervos will be integrating the Kava network with their cross-chain Force Bridge product to enable the bridging of liquidity between Kava and Nervos. The integration will allow for the movement of native assets between the chains, giving $CKB holders new ways to use it on the Kava platform and bringing Kava to dApps on the Nervos network.
- The Loan Wars: Factions
- Using Keplr Wallet on Kava
- Formation.Fi to Bring Smart Yield Farming to The Kava Ecosystem
- Kava 9 Is Coming: IBC and More: The Kava 9 mainnet upgrade is coming, and it’s bringing a number of exciting changes aimed at expanding the Kava Ecosystem by adding new ways for users and projects to bring their assets to Kava. Chief among these is the upgrade to version 44 of the Cosmos SDK, which will implement the Inter-Blockchain Communication Protocol (IBC). This will allow holders of all IBC-enabled assets to seamlessly bring their assets to Kava and earn with them on Kava’s best-in-class products. Existing Kava users will also gain access to an array of new in-demand assets to use in the Kava Ecosystem. The targeted launch timeframe for the Kava 9 upgrade is late Q4 2021 to Q1 2022.
Oasis:
- Oasis Protocol to Launch on Wormhole Network following freshly announced $160M Defi fund: Oasis users will be able to use the Wormhole bridge to move tokenized assets seamlessly across blockchains.
- NFT is all in on the metaverse with native integration to the Oasis Network
- Oasis blazes the trail for DeFi 2.0 in new partnership with ThetaNuts
- The $160m Ecosystem Fund Event
Oracle:
- Oracle Announces Fiscal 2022 Second Quarter Financial Results: Total quarterly revenues were up 6% year-over-year to $10.4 billion.
- Half of US Colleges Surveyed Have Not Started Preparations for the New Student Aid Requirements: Oracle and NASFAA survey shows financial aid administrators anticipate challenges in the execution of changes to the Free Application for Federal Student Aid (FAFSA).
- Survey: The Great Resignation is Hitting Managers the Hardest
- Celebrate International Volunteer Day by focusing on people in time of need
Persistence:
- Community Newsletter #14 — November 2021: November was a momentous month for the Persistence ecosystem. The team continued to push forward with theor pSTAKE roadmap, raising $10 million to bootstrap the protocol, with pSTAKE’s TVL rising to $32 million this past month. The Persistence team officially introduced assetMantle (inter-chain NFT marketplace framework) and the assetMantle testnet was launched. Meanwhile, Comdex launched their mainnet. In addition, the team introduced the validator delegation program for assetMantle amid overwhelming support from the validator community, receiving over 420+ responses. The Persistence team also continued to lead the discussion on DeFi, NFTs and liquid staking, appearing in multiple podcasts and interviews.
- Persistence’s native token, XPRT, is now supported on Keplr wallet.
Polygon (previously Matic)
- Polygon Takes A Major Lead In ZK Rollups; Welcomes Mir, A Groundbreaking ZK Startup In A $400M Deal
- Built the next web3 unicorn in India with Polygon LEAP 2021 Accelerator
- The Best of Both Worlds: ClayStack Brings Liquid Staking to Polygon
- Polygon Grants Hackathon concludes with a BANG
- Polygon and Wanchain Join Forces, Usher in New Era of Blockchain Interoperability
- Wintermute Announces $20M Fund To Bootstrap Polygon Dapp Development
- What’s new in matic.js v3
- ZKVerse: A Gentle Introduction to Zero Knowledge Proofs
- Lido will add Polygon to its platform. Users will be able to stake their MATIC and use stMATIC on the secondary market.
- Check out the latest Polygon integrations here.
Secret Network:
- Secret Network Ecosystem Roadmap — December Update: The Supernova upgrade has finally been deployed, and now the Secret community prepares for an explosion of application growth — powered by Secret NFTs and Secret DeFi.
- Secret Network Ecosystem Update: November 2021: November saw the launch of Supernova, our biggest mainnet upgrade to date, plus the reveal of unprecedented unique projects (including Tarantino NFTs!). This upgrade unlocks dozens of new Secret Apps, powered by private smart contracts and IBC.
Sentinel:
- The Commencement of Sentinel’s First Cosmos/dVPN focused Hackathon, in Collaboration with Lumos Labs: Sentinel and Lumos Labs call developers to Decentralize the VPN industry with the Sentinel Hiring Challenge 2021.
- Sentinel announced the first distribution round of node rewards:
Terra:
- Terra Delegation Program 2022 Round 1: Applications
- Native UST and LUNA transfers from Terra to Injective via IBC are now live.
- Hong Kong-based venture capital firm Chiron has raised a $50 million fund dedicated to backing projects on the Terra blockchain.
- NFT support is now live on Terra Station
THORChain:
- Dev Update #118-#119: THORChain Dev Update for Weeks 118–119, 22 Nov — 05 Dec; Liquidity Caps, MCCN Updates, Community Updates, and more.
Projects that are actively building on the Cosmos ecosystem
MISC
- ICF Grantee Datachain announced their collaboration with JCB CARD, world’s 5th largest payment company, to build a Digital Currency Exchange Platform using IBC:
- A look at how Cosmos is enabling swaps between blockchains: Blockchains in the Cosmos ecosystem now make 1.5 million monthly transfers between them. Where does it go from here?
- Phase 2 of Gravity Wars:
Social media metrics
The Cosmos community continues to grow! There is a stable increase in the number of subscribers of Cosmos social media channels these weeks.
Join Cosmos official Discord channel here.
Check out Tendermint and Interchain Foundation Twitter pages.
There are also Community-managed Channels. These channels are managed entirely by members of the Cosmos community and do not represent official Cosmos or ICF announcements.
Cosmos Validator Working Group
This is not financial advice.
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Main sources
Tendermint media
Interchain Foundation media
Ecosystem projects’ social media
