A little bit of chit-chat
Uniswap, the leading decentralized exchange (DEX) in the Web3 ecosystem, has chosen Axelar as one of its preferred platforms for cross-chain development. Axelar's proof-of-stake mechanism, known for its security and cryptoeconomic guarantees, was highlighted by Uniswap during an assessment process. With a daily volume of approximately $1.5 billion, Uniswap sought the best interoperability solution for its deployments across multiple chains. Axelar's mature codebase, and innovative features, such as quadratic voting, were highlighted in the assessment.
Winner, winner, chicken dinner
The winners of the Delphi Cosmos Hackathon have been unveiled. The collaborative event, hosted by Osmosis in partnership with Delphi Digital, Injective, and Neutron, attracted hundreds of participants and submissions, highlighting the growing interest in Cosmos-based projects. After careful consideration, the top three winners have been announced, and they are set to shape the future of Osmosis.
Taking the first-place spot is Obi Money (@Obi_Money_), whose utilization of modular account abstraction promises enhanced user control and a superior experience. Obi's plans include integrating Smart Accounts on the Osmosis test-net and frontend, conducting full-stack audits, and obtaining governance approval for smart account WASM. Aegis Finance (@Aegis_finance) secured second place with Night Market, a platform designed to bring privacy to Osmosis by securely holding multiple assets privately. Lastly, Infinity Protocol, represented by OMX App (@OmxApp), clinched the third-place position with their suite of DeFi products for LP tokens, aiming to address liquidity constraints through Continuous Leverage Tokens.
These winners represent a leap forward for the Osmosis ecosystem, as they bring innovative features such as enhanced user control, privacy solutions, and improved liquidity mechanisms. You can watch the demos of each of these projects here.
Optimistic? ZK? IBC?
Polymer Labs has announced Optimistic ZK-IBC Connections, a solution that combines optimistic connections and ZK proof verification techniques. This advancement enables dynamic latency and exciting properties for cross-chain communication.
Polymer is the first modular IBC-based networking protocol. The Polymer chain will enable ZK-IBC connectivity across all integrated chains with a trustless architecture based on light client state proof verification. Polymer's three-layered architecture, inspired by the OSI Model, offers modularity and flexibility. The transport layer standardization and state layer flexibility enhance interoperability while reducing fragmentation among different protocols.
In addition to ZK-IBC connections, Polymer introduces optimistic IBC connections, providing modularity, design flexibility, and network effects. The platform's zkMint and zkTree technologies significantly reduce on-chain computation costs.
The high level solution to bypass the cost and latency trade-off is to implement a combination of both optimistic and ZK proof verification. For example, on the target chain, Polymer (IBC router hub) state roots are optimistically accepted on-chain. This requires leveraging the stake on Polymer for security. ZK fault or fraud proofs can be submitted by anyone to prove misbehavior.
Combining both optimistic connections and ZK proof verification techniques, provides dynamic latency with the following desirable properties; an upper bound on latency, Lower latencies are possible when relayers are properly incentivized, and reduced cost of connection maintenance.
Airdrops
Wrap Up
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