Cross-Chain Smart Contracts on Quicksilver
The Quicksilver zone’s first upgrade post-genesis will enable CosmWasm on the chain, allowing BUIDLers from across the Cosmos to build DeFi protocols on top of Quicksilver. Building on top of the Quicksilver Zone will allow DeFi protocols to not only use qAssets as base assets, but also leverage Quicksilver mechanisms such as cross-chain verifications. You can read more about building on Quicksilver here.
CosmWasm
Projects building on the Quicksilver chain will do so through CosmWasm, a smart contract library which provides all the modular code necessary. It allows builders to build the bones of a smart contract to directly begin working on custom logic, which is what gives protocols their functions. You can learn more about CosmWasm here.
Cross-Chain Smart Contracting
Currently, DeFi in Cosmos uses Interchain smart contracts, which leverage IBC technology to create protocols compatible with all the assets in the Cosmos. Interchain smart contracts are offered by chains such as Juno and Agoric. Protocols built on Quicksilver, however, will be built using cross-chain smart contracting.
Cross-chain smart contracts will leverage cross chain verifications, CosmWasm, and Interchain Accounts to create smart contracts that allow building Interchain DeFi. Cross-chain smart contracts will be able to retrieve data, control accounts, and make decisions based on information on other chains through these technologies. This means that protocols built using cross-chain smart contracts will become a part of Interchain DeFi, a new layer of DeFi that will supercharge assets being used in other DeFi protocols.
Why does this matter?
Cross-chain DeFi on Quicksilver will empower the existing DeFi ecosystem. Through its cross-chain capacities, Interchain DeFi protocols built on Quicksilver will enable users to participate in Interchain DeFi while still participating in other DeFi protocols. Through Interchain smart contracting, protocols can verify what assets users have locked up in other protocols or chains on Cosmos, so that users can leverage these assets. This will allow users even more choice and higher returns.
Anchored in the Cosmos, Quicksilver only seeks to have a net positive effect across the ecosystem. Whether it be by liquid staking that allows users validator choice and the maintenance of governance rights, or by enabling a DeFi ecosystem that functions in conjunction with other protocols in the space, Quicksilver only aims to maximize user experience, so #wagmi.
