Thyborg
@Thyborg_
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@Cosmos strategy at @informalinc | Advisor @axelar | Curator-in-chief of the Interchain Reports https://t.co/9MVameDP8w
Paris
Joined November 2021
Happy to inform that I'm joining @informalinc to help onboard the next 1000 app-chain to @cosmos 😎 DMs open for any dev & team interested in the most interoperable & scalable crypto ecosystem.
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Major transition in 2023, MAJOR announcements coming up in 2024 from Informal's Comet & IBC teams.
Do you think Informal is just a core dev business funded by the ICF?. Think again. 2023 was a major transition year for us 🧵.
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A death spiral isn't the most likely scenario for $UST. Looking at the design of the Terra protocol and the economic incentives at play, the odds are $UST recovers. The why & how in this thread 🧵.
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This is awesome.- Juno finds a bug.- Osmosis provides a fix.- the changes are upstreamed for all other Cosmos chains. The Interchain community is a real thing
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Like it or not, the Cosmos ecosystem is bound to become the ultimate MEV bots fun park. Interchain accounts, interchain security etc. are all making the playground space bigger & better. Let's kickoff a series of reasonably short Cosmos MEV threads with Part 1: the Basics.
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$ATOM - the number thread. A complete breakdown of the key metrics of the Cosmos Hub's native token and King of the Interchains 🧵.
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Hey @coinbureau, we appreciate your $ATOM coverage today, but couldn't help but notice a significant # of inaccuracies & an incorrect perception of what truly matters for the Cosmos Hub and $ATOM community 👇.
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I did the math. If you had staked 25 $ATOM (i.e 150$) on 1-Jan-2021, you'd have 2400$ today. That's a 16x. The breakdown, and how it compares to other majors coins 🧵.
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Unlike most (if not all) other L1s, #Cosmos doesn't have a core team ; yet over the last year, the ecosystem managed to ship ground-breaking tech after ground-breaking tech at a stunning pace. This is what decentralised software development looks like in the Cosmos 🧵
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Six years after the ICO. Four years after mainnet. $ATOM is about to get a taste of value-capture. The Replicated security is live on the Cosmos Hub 🥳.
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With the advent of the multi-chain world, it has been harder & harder to deny the fundamentals of #Cosmos, and we've seen the critics focused on $ATOM instead: "bad tokenomics", "no utility", "no value-accrual", "inflationary" etc. A thread to set the record straight 🧵.
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Not sure what happens to the #Lunatics next, but it looks like #SecretNetwork now has the most engaged community on Cosmos. For proof, this comment by @assafmo reminding me that Secret also runs CW got 5x the likes of my entire thread. Gotta be on your toes w/ the #Secret agents!
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It appears to me that the crypto world hasn't priced in the fact that @CelestiaOrg, @axelarcore & @agoric are three of the most exciting & technologically-innovative projects in the entire space, and they've all made the decision to build on top of Cosmos.
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Could IBC ever be hacked like @nomadxyz_ yesterday, @harmonyprotocol in June, @AxieInfinity in March? . While it's early to claim anything in crypto is bullet-proof, let's review why IBC is as secure as an cross-chain protocol can get 🧵.
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$USDD is a way for Justin Sun to offload his $TRON without crashing the price. 1. Burn his $TRON for $USDD.2. Sell that $USDD to retail chasing the 20% APR. By the time $USDD has grown big enough that it isn't backed anymore, Justin is already out. That's Terra w/o the use cases.
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Interchain security isn't launched yet & we already have 14 interested teams in the consumer chain leads spreadsheet - smells like product-market fit to me.
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Cosmos isn't set up to sign partnerships like Ava Labs & Amazon. There's no single company to rep the ecosystem, no big investor w/ a massive % of the network lobbying web2 companies. What Cosmos does have is a set of working products & incredible word of mouth among devs 👌.
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The price of $ATOM has taken a beating over the past couple of weeks, possibly because it somewhat lacks a clear utility. Let's see why the implementation of a Hub model is likely to change that for forever 🧵.
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The BNB hack shows the value of being an active part of the Cosmos community. Big players like BNB, Polygon, Kava etc. forked big pieces of the stack & never looked back. They're foolishly missing on thousands of upgrades, patches, fixes & new features done by the core teams.
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Turns out Cosmos has more than twice as many app-chains (49) as Polkadot has para-chains (22).
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Top 10 chains built with the Cosmos stack . Binance.OKEx.Cronos.Cosmos Hub.KuCoin.Thorchain.Oasis.Kava.Osmosis.Terra.
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Both @stride_zone and @TeamKujira have less than 5 core devs and both shipped a brand new interoperable chain in a matter of months. Tell me again why you think Cosmos won't scale well?.
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The Cosmos Hub is only a few weeks away from the launch of replicated security and the introduction of the very first value-capture mechanism for $ATOM. Here's a brief description of what to expect after the interchain security module is (hopefully) approved by governance 🧵.
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Another top project (3X the dYdX market cap) signalled early-stage interest for a potential migration to the Cosmos stack. This is starting to look like a trend to me.
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We're starting a community effort to build an strong unbiased ranking of active Cosmos validators based on a set of agreed-upon quantitative & qualitative criteria. A statement of purpose and an invitation for all community validators to join the effort 🧵.
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A bit of Cosmos history.2014: Jae Kwon invents TendermintBFT.2015: Ethan Buchman & Jae meet.2016: Ethan joins as co-founder.2017: ICF fundraiser.2018: New PoS concepts (slashing, staking etc.).2019: Cosmos Hub mainnet launch.2021: First IBC transaction b/w the Hub & Osmosis.
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Wallet n°8 of the recent Cosmos whales thread had me quite perplexed: who would leave 6.5M $ATOM un-staked since genesis, leaving on the table 3 years of staking rewards?. Here's how I got my answer and learned a few interesting IBC things in the process 🧵.
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In the coming weeks, we'll launch AtomKraft, an open-source testing framework for Cosmos projects. Simply put, devs will be able to automatically & continuously run millions of tests against their code to uncover vulnerabilities. That's a game-changer for Interchain security.
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The commonly-held belief that Tendermint-based chains are slow is currently being shattered by a number of high-throughput decentralised applications choosing to build on Cosmos instead of Solana or Ethereum roll-ups 🧵.
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Interchain security, modularity, interoperability, dYdX, Delphi, Hub 2.0, Cosmoverse, VanEck report - Cosmos is going from narrative famine to narrative overdose this year.
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Not convinced Cosmos needs more "marketing". Better focus on bizdev, tracking down the Tier 1 Ethereum, Solana & Cardano teams one-by-one to tell them about the rent-free interoperable & scalable Cosmos app-chains. dYdX gave the ecosystem more exposure than marketing can buy.
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Will the Tendermint whitepaper get the recognition it deserves at some point?
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The top 10 Cosmos Hub wallets control over 30% of the total $ATOM supply, out of which I believe:. - 11% are ICO wallets.- 10% are exchanges.- 7% are big validators. The breakdown 🧵.
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The first sovereign chain to transition to $ATOM interchain security will be @stride_zone. After that, several others have expressed interest in following through & getting closer alignment with the Cosmos Hub. One of them is @ComdexOfficial 😎.
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In the next IBC release, Cosmos users will be able to send $ATOM from the Hub and provide liquidity (or swap, stake etc.) on Osmosis or Crescent in the same transaction. That is, without switching chains, or taking any other step. Who said app-chains are not composable?.
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I predict #CosmosSummer 2022 to be the exact opposite of #SolanaSummer 2021: teams putting out real products after years spent in build-mode, often w/o even a tradable token. One such Cosmos team is @OnomyProtocol who's getting ready for launch after a full 2 years of coding 🧵.
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In the end $ATOM outperformed every other Cosmos token, out delivered them on airdrops, and continued to selflessly fund the development of the entire Cosmos stack this year.
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Wait, Google is also hiring Cosmos devs? 👀.
BREAKING: @Google IS HIRING SOLANA/RUST SPECIALISTS - AS @googlecloud X SOLANA NEWS DROP IS SEEMINGLY IMMINENT
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In 2023 Cosmos gets:. - Replicated, mesh & alliance security.- IBC expansion into other ecosystems.- The dYdX Cosmos chain.- Native USDC issuance.- Celestia's mainnet. Plus who knows how many new app-chains. So I'm feeling pretty good about my career choices last year 😎.
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My general view is that $ATOM should become the least inflationary, most stable & predicable non-cash asset of the Cosmos ecosystem.
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$ATOM casually capturing other L1s market caps before it even starts to capture value.
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Interchain security recap. 7 teams locked in: Neutron, Stride, Fair block, Simply Staking, Duality & Polymer. 3 core chains: Asset issuance (Circle), Scheduler & Allocator. That's 10 consumer chains ready to work for the $ATOM community next year 💪.
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Polygon has already signed partnerships with Disney, Meta (i.e FaceBook), Reddit, Stripe & Draft Kings. That's exactly the kind of bizdev hustle that we need for Cosmos.
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Very much looking forward to the rest of the crypto world realising that IBC is not Cosmos token bridging tech but the base protocol of a new internet ⚛️.
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.@EvmosOrg had one of the best @CosmoverseHQ presentation yesterday. The idea of an IBC router b/w the EVM & Cosmos worlds is brilliant.
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This is your Cosmos Hub team at the Informal retreat. Everything may look peaceful, but this was the stage of some intense debates that led to some serious breakthrough in how we envision the Hub future ⚛️
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The $ATOM economic zone has a smart-contract platform, a liquid staking provider and hopefully soon enough a cutting-edge DEX. Still missing a key DeFi primitive: a money-market. To remedy that, @Umee_CrossChain is joining the list of potential new consumer chain candidates ⚛️.
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The battle for Cosmos liquid staking market shares has been seriously heating up over the past couple of months. In today’s thread I’m running the new contender @stride_zone through my usual project quality checklist 🧵.
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Feels good to have my bias validated by @Delphi_Digital 10,000 words long systematic review of the trade-offs between Cosmos, Ethereum, L2s, Avalanche, Solana, Polkadot, Near 🤝.
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Celestia's mainnet is going to be massive catalyst for Cosmos. Even if some devs choose to build a Celestia's roll-up over a Cosmos app-chain, the sheer number of new IBC apps they'll bring will largely outweigh that.
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A Thyborg exclusive: an upcoming Cosmos L1 with solid backing is in the process of bringing a dozen of disillusioned Solana protocols to their permissioned smart-contract Cosmos chain 🧵.
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For the Cosmos ecosystem, connecting Ethereum to IBC would be a win of the same magnitude than the dYdX migration. A new Ethereum research post by @garvitgoel03 outlines a technical solution for that
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There's so many reasons for Cosmos to outperform the rest of the crypto market that it's hard to know which is making $ATOM pump.
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Had a new surge of degen energy after listening to the @DonCryptonium / @deadrightdove interview. Put up stATOM as collateral, minted $USK, lent it at 10% APR and bid some liquidated $KUJI at a 6% discount. Probably the most DeFi fun I've had since the UST crash.
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BNB hack summary:. The issue was with the IAVL RangeProof code. It was never used in the IBC Go module, or anywhere else in the Cosmos stack. It was removed from the IBC specs & replaced with a better standard. It was only used by Binance for a custom bridge implementation.
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Just to clarify the ICS timeline .Aug: Working product.Sept: Private testnet.Oct: Bug fixing.Nov: Public testnet.Jan: Launch.
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Great visual from @Delphi_Digital to understand the differences between monolithic chains, Ethereum roll-ups, Cosmos sovereign chains & @CelestiaOrg. Missing interchain security & consumer chains though!
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The Cosmos Hub doesn't need to do a million different things. Get Interchain Security right. Layer a couple of useful services on top. Help the Interchain grow. The rest will sort itself out.
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Another top project will join the $ATOM economic zone as consumer chain 😎. @polymerDAO is betting on IBC becoming the open-source industry standard for cross-chain communication. Their ZK IBC infra will route packets b/w chains, including non-Cosmos chains.
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Finally met the Osmosis core team, now I see why everyone likes them 🤝.
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We've listed & categorised no less than 75 projects building across the ecosystem in the Interchain Reports. The new table includes a lot of the live & upcoming app-chains & dApps across Juno, Osmosis, Secret & Terra. The Cosmos is teeming with life!.
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If bear markets really separate the legit projects from the rest, $ATOM should pump non-stop throughout this crypto winter.
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So our contact at the BNB chain casually told me that the team is launching another Cosmos chain in a couple of months 😎 It's called BNB Greenfield & its purpose is to provide decentralised storage for the existing BNB chain.
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Yesterday @DeanTribble & @zmanian introduced $IST at the @Gateway_Conf in Prague. Difficult to imagine a better timing to present an over-collateralised IBC-native stable 🌕 here's my summary of the mechanics of the Inter protocol 🧵.
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iPhone: there's an app for that.Ethereum: there's a dapp for that.Cosmos: there's an appchain for that. A list of the best IBC-enabled appchains in the Cosmos-store 👇.
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The upcoming Wormhole Cosmos chain is a pretty big deal - their Portal token bridge protocol has a higher TVL than dYdX. Wormhole's Portal $500M.dYdX $380M.
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With interchain security, most new Cosmos Hub features can be deployed as consumer chains. That means the speed of releases may increase considerably, and the Hub could simultaneously become the most secure & the most cutting-edge zone in the ecosystem.
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The list of former Tendermint Inc employees - I'm gonna guess this was a rather stimulating workplace!
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For anyone looking to get a crypto job, can't think of better place for that than @JunoNetwork: come in, make yourself useful to the community for a while, then start a sub-DAO & get a budget approved by that same community to keep going.
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Poor Helium. They could have built their own Cosmos app-chain and remain forever unaffected by any host L1 problem. Instead they chose to migrate to Solana just two months before the FTX meltdown nuked the entire ecosystem 🤷
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Couldn't find an exhaustive list of Tendermint-based chains so I'm preparing my own & I expect the cumulative TVL sitting on top of these to surprise quite a few. @jaekwon invented that titan pre-Ethereum & I can't think of a more under-appreciated crypto builder than him
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