A little bit of chit-chat
A while ago, the Interchain Foundation launched the Builders Program, which aimed to attract and build up new talent in the Cosmos Ecosystem. So far, 15 teams have applied to it, and 11 have already been onboarded. There are some expectations that new consumer chains could be born out of this program.
Juno is trying to get more decentralised by increasing its validator set from 135 to 150. Currently, Juno has 34% of the voting power concentrated among the top 8 validators. If the measure passes, it will bring more diversity to the validator set and give token holders more options to stake out of the top 10-20 validators. However, it’s noted that it could increase the block times somewhat as more validators are required to achieve consensus.
An update from the lab 🧪
Osmosis released a report to show the evolution of the protocol during these times of uncertainty. The report focuses mainly on the liquidity within the DEX and the staking of the OSMO token.
As summary, we have that:
Staking has fully recovered from the Terra debacle. There are currently 125.3 million staked tokens, 20.6% of which come from Superfluid Staking. Compared, staking has grown stronger than Superfluid Staking after the Terra Collapse. Now, 14 pools have Superfluid Staking enabled.
Liquidity, which fell from $1.8 Billion at the peak in March to $155M as of writing, is still recovering. The total liquidity of ATOM has decreased considerably in the last 30 days (-25.4%). However, this ratio has diminished lately, signalling a possible bottom for the exit of these tokens. Meanwhile, three other tokens are leading the way. Bitcoin, Ether and USDC now account for 27.6% of Osmosis liquidity and have shown the most significant gains proportional to dollar values over the last 60 days.
A link to the official data dashboard provided on the report also shows a sharp decrease in volume, which remains on a downward trend during the current month.
A shared secret 🤐
The latest partnership within the Cosmos ecosystem involves privacy. Axelar and Secret Network announced a collaboration to offer to send private messages between siloed blockchains.
This new feature will be offered through Axelar to other blockchains such as Avalanche, Ethereum, Moonbeam, and others. It will be made possible by sending the message to Secret to make it private via its Trusted Execution Environment, a private guarantee hotly debated among Zero Knowledge experts and the cryptography community in general.
The scope of this integration will also allow dApp developers in the chains connected to Axelar to offer services such as private NFT trading and private voting for DAOs.
HackATOM is around the corner ⚛️
A popular tweet from Zaki Manian asking how to attract dApp developers may have found an answer in Cosmos Governance Proposition 74, requesting the Hub to fund the HackATOM Seoul 2022.
The proposition is asking for 37,500 ATOM (~$314,000) to make the Hub the main sponsor of the event. The money will fund the prizes for the different challenges, which include:
INTERCHAIN PRIZE: INTEROPERABILITY- Build something that pushes IBC forward.
HUB PRIZE: INTERCHAIN SECURITY - Spin up a Consumer Chain that showcases the power of the Cross Chain Validation (CCV) protocol and experiment with the application layer.
APPLICATION PRIZE: COSMOS-SDK - Build either a blockchain with the Cosmos SDK, a rewrite of an existing module, or a tool that improves the user experience of developing with the SDK.
In each of the categories, there will be three winners, which will receive the following prizes:
1st Place 6250 ATOM (~USD $50k)
2nd Place 3750 ATOM (~USD $30k)
3rd Place 1250 ATOM (~USD $10k) (two winners)
The proposal argues that from similar events in the past, the IBC community has benefited from attracting talent and developing important tools such as Liquid Staking, the founding of the Chainapsis team, the prototype of Desmos, etc.
Airdrops List
Wrap Up
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