A little bit of chit-chat
ION DAO, home of the Osmosis second native token, went live this week. The main topic around it is the launch of an over-collateralised debt stablecoin. ION started as a test token during Osmosis' early days and has turned into a community of over 1,400 people working on ideas to improve the Osmosis ecosystem.
Quicksilver decided to postpone its launch until further notice. Further testing of some of the chain modules is needed after the team deployed some fixes following a security audit.
Agoric is gaining steam
The Agoric ecosystem is gaining steam. It was recently announced that at least five projects are building using the Javascript smart contract platform, and this even comes before the launch of mainnet-2.
Here's an overview of the projects building on Agoric:
Calypso: a blockchain operating system to research and manage DeFi portfolios across 50+ chains in one place.
QuickWork: A tool developed by AgreeWe that will allow organisations to hire developers on a per-project basis in exchange for a traditional or token payment without needing a conventional employment contract.
Crabble: A marketplace offering short-term rentals of NFTs
LH2 Staking: An Agoric native liquid staking protocol to decentralise the Agoric chain by balancing staked BLD across different validators.
KREAd: A character builder dApp that allows users to create characters in the form of NFTs.
Meanwhile, an official announcement set the estimated deployment date of the MVP of IST, Agoric native stablecoin, and Inter Protocol for Q3 or Q4. This MVP will come with the Parity Stability Module, allowing users to mint IST with other stable tokens like USDC.
Welcome to Cosmos, Delphi
Delphi Labs, Delphi Digital's protocol R&D arm, was looking for a home after the Terra collapse. After months of research, analysing the pros and cons of each available option, including top players such as Ethereum, Solana, Avalanche, etc., they published a report in which they concluded that Cosmos was the best choice for them to grow.
They concluded that Cosmos is the best-positioned ecosystem by design to thrive in a blockchain landscape that "will increasingly fragment into a mesh network of generalised smart contract chains and specialised app-chains connected via trust-minimised bridges."
On the other hand, Delphi believes the most significant risk for Cosmos is its low adoption rate when comparing TVL to other ecosystems, including some single ETH Layer-2. That being said, they described the move as a bet on the ecosystem's future.
Quadratic Voting coming to Axelar
After its latest mainnet upgrade, Axelar became one of the first protocols to implement Quadratic Voting to boost the security of cross-chain communications. In this new model, each validator's voting power is equal to the square root of the delegated stake it accumulates, as opposed to the actual stake.
Axelar gave a practical example of the application of this new system in a press release published by Axelar. The model works as follows:
"For a validator to cast one vote, they need only hold one share. But to cast two votes, they must hold four shares. They must hold nine shares to cast three votes, and so on. This allows for a variety of practical solutions, like a voter being able to buy and apply more votes to their desired position."
Theoretically, quadratic voting will further decentralise the network and lower the risks associated with the concentration of token ownership in the hands of few. With this model, voting power is spread out over a larger number of validators.
Airdrops List
Here’s a list of upcoming airdrops.
Wrap Up
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