🧵on all IBC connected chains in Cosmos and how we came from no IBC to around 48 active IBC chains and 70%+ in developer growth in 2021. We explore all Cosmos IBC chains in an easy to digest thread. Or through Medium
Curious">@cosmonautcuriouscuriouscosmonautresearchethos95682a094dc7Curious Cosmonaut Research—Ethos
2) Cosmos has been having rapid growth over the last couple of years. To give a little context Inter‐Blockchain Communication protocol (IBC) was only approved on March 29th, 2021 from governance proposal 41.
3) According to a report by Electric Capital Cosmos had a 70% growth in developers in the Cosmos ecosystem in 2021. This will only continue to grow as Cosmos technology improves and more tools come such as EVM-based chains.
4) This report outlines that after a little over a year there are already around 48 active IBC chains; not counting all the projects within those chains. If you enjoy this report please view the end to read about Curious Cosmonaut Research.
5) @akashnet_ positions itself as the following: Akash Network is the world’s first decentralized and open-source cloud, accelerating deployment, scale, efficiency, and price performance for high-growth industries like blockchain and machine learning/AI.
6) @Akash has a goal to be similar to the Airbnb of Cloud Computing. They allow companies, individuals, and investors to provide extra computing capacity up for rent and allow people building products to therefore rent that.
7) Think about the value of Airbnb for a second; say someone owns a vacation home and they use it in totality about 9 weeks out of the year. That leaves 43 weeks where their home could be rented out for a brand new source of income.
8) This is the first category of service providers and similar to this think of companies who either have the general open capacity or maybe seasonality trends. Now think of the other group of Airbnb providers.
9) These are people who go out and analyze the profitability and decide to purchase a home just to provide it on Airbnb for a profit, equity in the home, or whatever their reason is.
10) This is another group of people for @Akash if investors large or small see an opportunity they can provide the service. This could be done through large investments or things like the concept of the Akash Supermini Computer that was at one point discussed.
11) This model similar to Airbnb helps drive down costs and decentralization. With Airbnb, it does not just help drive down costs but it gives more control and decisions on where you will stay.
12) This analogy is similar to Akash where it helps companies/projects to get more optionality such as censorship resistance, greater potential uptime, and other features while claiming to be 2-3x cheaper than other cloud providers.
13) This model of DeCloud could become critical to moving decentralized projects off of a centralized fail point. DeCloud could start in things like DeFI, DEXs, Crypto Mining, general Web 3.0 projects and over time try to expand into general Web 2.0 with their cost efficiency.
14) @AltCarbDAO is a platform that is seeking to allow for decentralizing carbon trading and emissions reductions. The value they seek to provide is connecting people willing to sell carbon credits and those seeking to voluntarily buy cont..
15) while reducing the large fees in the traditional carbon markets. @AltCarbDAO will have a DEX for those who wish to buy and sell the carbon tokens with a portion of those fees going back into other green investments. It is not yet a live-functioning product but one coming.
16) @AssetMantle is a platform that allows NFT projects to create their own custom marketplace and NFT collection. This allows for more customization like custom royalties, batch minting, no-code tools, and cross-chain NFTs.
is focused on cross-chain communication. Axelar will allow for projects to build an application that can utilize multiple chains as part of their product. Axelar could solve issues for truly composable applications/services in the future.
A basic example using NFTs could be a
service pulling cloud computing from @Akash, minting NFTs on @Stargaze, allowing for various NFTs trading, NFT DeFi, aggregating NFTs from various ecosystems, and creating an easy to use service interface.
19) @BandProtocol is a data oracle chain run by many reputable validators in the Cosmos ecosystem. The Band protocol allows data providers to load and sell their data sources to various parties creating a data provider monetization model.
20) An example would be @BandProtocol working with API providers of @Coingecko to maintain an active and functioning API with Band. This then allows them to pull from multiple trusted sources to crowdsource accuracy such as asset prices.
21) @BitCannaGlobal is a project looking to change the way the cannabis industry functions. BitCanna is looking to support some of the biggest challenges the cannabis industry faces like payments, SupplyChain, and a product history report.
For example today many cannabis companies struggle with accepting payments and if they do they may be charged excessive fees; their Pay product allows people to settle with dispensaries with better privacy instantly and at a discount.
It is clear why blockchain and cryptocurrencies are useful for these businesses but accepting more well-known currencies such as BTC seems like a better model making @BitCanna a potentially challenging business model.
24) @BitSongOfficial is a project that wants to make it easier to connect musicians and fans directly. This can be done in various ways from artist NFTs to fan tokens to royalty rights.
25) This gives artists the opportunity to make more money and for fans to get a unique experience whether they be early tune-in to music or exclusive interviews.
26) Overall the goal is to allow artists to better manage their communities in ways that make sense for them and actively respond to the wants of their fans to create a win-win scenario.
27) Boostrom or Cyber is a distributed, self-sustainable computer for answers, managed and governed by its users. It is structured to resemble a superintendent AI organism, which can learn from the data taught by its users. Goal to be a massive Wikepedia without censorship.
28) @cheqd_io is a project trying to create sovereign identities, trust, and the ability to verify identities in the blockchain. It also allows people to sell data without having their actual identity exposed.
29) @Chihuahua was the first meme coin to come to the Cosmos ecosystem. Chihuahua was just created to be a fun addition to the ecosystem as a payment and meme community platform. Chihuahua has plans around NFT partnerships and a metaverse.
30) @ComdexOfficial aims to bridge centralized and decentralized finance by offering the ability to create synthetic assets collateralized by CMDX token. They also aims to allow things like NFTs of physical assets for trading. Comdex plans to expand to trading debt securities.
31) The Cosmos Hub ATOM is a pivotal part of the community. The Hub acts as a critical part of the IBC community as a router from the Hub to other chains. For example, entering the community as ATOM and then being able to move to any other chain and swap for other tokens.
32) The Hub is intended to become the most resilient chain to hold assets for other chains and provide security in the future to applications that would like to be secured by the Hub.
33) @CrescentHub is a DEX in Cosmos that has been in progress for a long time led by @B__Harvest . Crescent in addition to having a decentralized exchange with AMM is working on orderbook models instead of just AMM which is considered a superior model by many traders.
34) @CrescentHub is also working on things like derivatives, leverage, hedging, and other tools. Crescent was previously the Gravity DEX or GDEX until the community passed a proposal to change this through proposal 62.
35) @CrescentHub was also very unique in that they had a social contracting proposal 1 where they proposed their plan and vision while allowing the community to agree or vote against it. Crescent could pioneer the path for advanced trading for Cosmos + Ethereum and more.
37) In addition to higher transaction per second capacity as well as new projects with developers who prefer EVM. This gives projects the ability to have higher transactions per second than say Ethereum while also being able to take advantage of IBC.
38) to move assets within the Cosmos ecosystem.
is a chain built on Cosmos SDK without using the EVM that also helps power their Exchange.
39) @DecentrNet is a blockchain-based browser tool. Users have the opportunity to not only protect their identity and data but get assigned a DecID which allows them to earn based on their data from advertisements.
40) Decentr already has an App for IoS and Android and has plans to expand their product such as a Decentr VPN.
41) @DesmosNetwork is building a technological platform for social media platforms to build off of. This includes modules for identity and non-identity. The DSM team are very early Cosmos members from the Forbole team.
42) Their aim is to create a better social media platform where the users are also the owners of the platform. The team crowd raised the funds to build this platform to avoid institutional ownership and decentralize the platform from an early stage.
43) @dig_chain aims to support the tokenization of realestate. Dig Chain would have sub infrastructures to support various regions due to varying real estate methodologies.
44) Dig Chain confused many with their airdrop going to ION holders and “blurt” which appears to be a blogging site where users get paid. The status of this chain is confusing but recently they stated they are building a property marketplace and working with partners in Portugal.
45) @emoney_com is creating fully collateralized stable coins and passes on the underlying interest of the fiat to the stablecoin holders. E-Money is audited by EY and already has 5 currencies.
46) This allows for transactions and holding of stablecoins globally in milliseconds with very low fees. E-Money plans to integrate with many chains.
47) @Evmos has been bringing an EVM-based platform to the Cosmos ecosystem. Evmos was funded from the Cosmos ecosystem with approximately a 2 Million dollar grant from the ATOM community pool through a governance vote.
48) @Evmos is critical to the expansion of the Cosmos ecosystem given that EVM is popular for developers. EVM chains even excluding Ethereum had some of the highest growth in 2021 with a 121% increase in developers according to Electric Capital.
Some large EVM-based chains today are Ethereum, Polygon, Avalanche, BinanceSmartChain, and Fantom. This will allow cross-development of applications on say Ethereum and Cosmos.
50) It also allows for porting over projects from high gas chains to the Cosmos ecosystem or fork existing high-quality projects to the Cosmos ecosystem.
51) @Fetch_ai is working to create easy to use tools and token management for the creation of dApps as well as working to integrate privacy AI tools. This will support many Web 3.0 platforms; they have a beta available today called Resonate.
52) The @gravity_bridge is a bridge between Cosmos and the Ethereum network. The Gravity Bridge has integrated with platforms like Stargaze to connect Cosmos to Ethereum.
53) @Injective is a smart contract platform specifically designed for financial applications built on top of Cosmos and Ethereum compatible. This allows for projects to use tools and a blockchain more tailored to their industry versus a generalized platform.
It also allows financial platforms to buy tokens and propose modifications to the ecosystem that would benefit them and other financial applications. In addition to allowing applications to build on top of Injective, they have their own decentralized exchange.
55) @irisnetwork was actually the first Cosmos chain beating the ATOM chain by about 18 days but has not had the activity that the ATOM Hub has. Iris has had some innovations and integrations as well such as a platform called Coinswap that connects multiple chains for trading..
56) and earning such as BNB, ETH, DOT, and ADA. @Iris also has @uptickproject a user-friendly NFT platform. Iris does seek to help be its own Hub similar to ATOM and facilitate both modern businesses and onboarding legacy businesses.
57) The @Iris hub has a lot of community funds to be tapped into with what appears to be around 10% of the circulating supply of tokens being in the community pool, ~23% in the foundation's pool, and ~4% in the developer fund making them potentially more centralized then ATOM.
58) @Iris while they are building out many tools the focus remains on business services and infrastructure.
59) @ixoworld seeks to be an environmental impact tracker. This provides a history and changing of immutable data on how the environment is being impacted and can help use AI to make predictions on how things are being impacted such as crops.
60) ixo creates Regenerative Bond like opportunities to raise funds for societal improvements and to be paid back at agreed terms. It also allows people to create community tokens for their local economies as well as impact tokens towards things people care about.
An example of an impact token is an NFT series of rhinos that will be used to create a breeding/sanctuary for the rhinos.
62) @JunoNetwork">@JunoNetwork is a generalized smart contracts chain. Juno pioneered the first smart contracts platform with the CosmWasm team. Juno is generalized so they have tools and platforms for everything from finance applications to NFTs.
and @DA0_DA0 . Juno has garnished a lot of attention in the crypto news good or bad is for you to decide but they had a landmark governance proposal(s) to steal/revoke/take a large amount of Juno from...
64) “The Juno Whale” Takumi Asano. The @Juno team also accidentally sent the revoked tokens to the wrong address. Mentioning this is strictly due to the potential legal and cultural repercussions that could occur.
65) @Kava started as a DeFi application and has since grown into a financial application building environment. Kava has connected the Ethereum and Cosmos chains together for a DeFi ecosystem in addition to integrations with Binance and BTC.
66) @Kava was the first real lending/borrowing in the Cosmos ecosystem besides the Luna Terra ecosystem. They also have the semi-collateralized CDP stable coin USDX.
67) USDX has had a history of not really maintaining the peg and currently trading at 16% off peg at the time of writing this. Kava is also incredibly centralized where 2 validators control about 37% of voting power and the top 4 validators have over 54% of the voting power.
68) @Ki_Foundation is dubbed an exclusive wealth group with the goal to bridge CeFi and DeFi. Ki has its own chain to Ethereum which would likely be considered a high-risk bridge with the value of KI token.
69) @Ki_Foundation allows you to participate in a closed group of investors and get the opportunity to invest in private equity projects.
seeks to bridge traditional capital markets with the DeFi ecosystems. Konstellation has tools like Alkemy Mint for algorithmic like stablecoins, index funds through VegaX, swapping, NFTs,
71) @likecoin is a project to decentralize publishing and content. They have tools for publishing blogs on-chain as well as projects like DePub which is a Twitter-like solution on-chain.
72) Curious Cosmonaut Research does publish content into the ISCN App for extra content backup. The ecosystem appears to be geared more to the Asian market.
73) Lum is focused on large existing enterprises and helping create better transparency with customers through things like time stamps, and tracing tools with temporarily mutuable systems for flexibility.
74) Some examples being used today are Lumki which offers cashback and coupons as well as Skeeper which uses Lum for their review system.
75) @MediBloc is a decentralized health data ecosystem. Health providers can offer to share health data with users using decentralized identifiers. MediBloc seeks to connect healthcare providers, patients, medical institutions, research companies, insurance, and pharmaceutical..
companies. The project is a little confusing claiming the data is not stored on the blockchain but at the user's endpoint for protection. Less sensitive information could be captured like walking, food, and exercise to share with providers.
77) @MediBloc seems to be starting at a disadvantage because in order for a medical service to work it needs high security and network effects. MediBloc appears to have neither of these.
78) With a lower market cap, it would be easier to corrupt the network. This application would be more likely suited to moving to an Interchain Security chain later on with privacy smart contracts.
79) @Microtick is a platform looking to replace the bid/ask quotes that have traditionally taken place and aggregative oracles that determine the current market price. It uses game theory principles to use short-term derivatives and betting to determine the most current prices.
80) There may be some validity to this, especially for very highly volatile thinner traded assets where market prices can drastically vary. Given the market size of this and the active participants, this strategy could have multiple potential issues.
81) @OmniFlix is a long-standing participant of the Cosmos community offering things like validating services. OmniFlix has over the last year really picked up its activities in the ecosystem and now offers a suite for things like NFT and digital media creation.
They have tools like @OmniFlixNetwork Studio for creating digital content and community tokens, OmniFlix Marketplace for NFT, and media trading. They also help provide infrastructure for apps to create multi-chain applications.
was the first DEX in the Cosmos ecosystem. Osmosis is a premium generalized DEX in the ecosystem connecting the various blockchains in the ecosystem and now Ethereum.
84) At one point during the bull market @osmosiszone
was one of the biggest DEXs is all of the crypto ecosystems with a whopping 1.7B+ in total value locked and over 1.2B in weekly trade volume.
Regardless @Osmosis remains one of the top DEXs in the Cosmos ecosystem today and has the potential to layer in high value-added services with smart contracts like token issuance directly on-chain.
86) @Persistence aims to create an ecosystem of financial applications around staked Cosmos assets. With PoS chains staking is a pivotal part of the ecosystem but once staked that has historically been the end of the value of your asset.
87) Projects like @Persistence could create a market around the staked assets allowing people to sell a staked claimable asset.
88) These would likely be assets that sell at a discount because of the required unbounding periods but creates a scenario where people willing to sell at a discount can sell to people willing to wait to claim the asset. They also have other projects like AssetMantle and Comdex.
89) @Regen is creating a marketplace to connect projects looking to raise funds and people voluntarily looking to buy carbon credits. The traditional ecosystem can charge high fees for participating in carbon credits.
@Regen is aiming to introduce carbon marketplaces and use the blockchain and surveys to track environmental improvements.
91) This will also allow blockchain native companies easily participate in carbon offsetting without using a traditional bank and brokerage service with high fees to offset their carbon needs. This was showcased when @Osmosis used @Regen to go carbon neutral.
92) RIZON allows for a platform with governed minting of digital assets of what appears to be stablecoins to support businesses. According to their blog they support 4 main functions: mint stablecoin(s?), create liquidity with RIZON and Cosmos chains through DEXs like Osmosis...
93) NFTs. It is very unclear beyond that what RIZON is currently doing.
94) @SecretNetwork was the first blockchain in the Cosmos ecosystem as well as one of the overall industry leaders in privacy-first smart contracts.
95) This by default gives full privacy on everything from apps, swapping, NFTs, and more and then allows for individuals to choose how much they want to share.
96) Even simple examples are someone being able to hold an NFT without everyone being able to copy it, see your wallet, and potentially use social engineering to go after your wallet.
97) Tools like the Secret Bridge allow people to enter and exit the Cosmos ecosystem without others tracking down where their assets came from and their potential identity.
98) Even functions like selling NFTs to sAssets allow for people to sell their NFTs without exposing their identity or wallet. The Secret Network garnished a lot of attention when film director Quentin Tarantino decided to use their platform to sell NFTs of his Pulp Fiction..
99) collection despite Miramax Studios trying to sue him. The CEO and co-founder of Secret Labs responded saying their attempts to intimidate them into not allowing this mint to happen would not work. Privacy first contracts may get a lot more attention over the next 1-10 years.
101) This allows for VPN apps like Exidio. Sentinel’s model has garnished attacks on their model like poor economic models to a lack of transparency. Beyond that, it is unclear how Sentinel will compete with traditional VPNs to semi-traditional built-in like Brave Browser
102) @ShentuChain is a nonprofit that looks to improve crypto security and trust with products like ShentuShield which reimburses lost or stolen coins acting as a decentralized insurance policy.
103) Shentu helps build security standards and reviews as well as insuring potential risks. They also have products like wallets with basic insurance and standard secure contract options.
104) @Sifchain is a multi-chain DEX. Sifchain was the first Cosmos chain to implement an Ethereum based bridge called Peggy. Today they facilitate the free flow of Cosmos and ETH based assets to traders at fast speeds and low fees.
105) They have plans to add many chains, ones specifically mentioned are Ethereum, Polygon, Binance, Bitcoin, and Polkadot. The Sifchain team has also introduced unique experimental technologies like the Protocol Monetary Trade Policy..
106) creating micro arbitrage opportunities to attract liquidity that appears to recently have backfired. Regardless the Sifchain team remains an innovative team delivering unique solutions and thought leadership pieces on bridges.
107) @Sommelier is working to become a strong multi-chain DeFi platform. Connecting IBC chains and the Ethereum network. It combines on-chain data with off-chain modeling predictions to create an enhanced yield platform.
108) The @sommfinance
amongst other experts. This will allow the platform to go after varying yield strategies in different communities while bulking transactions to lower fees and rebalancing for yield and risk.
@sommfinance app has not yet been launched.
110) @Stargaze was the first sole NFT application chain. The Stargaze team has a huge mission to create standards for NFTs and pioneer how NFTs should be created, traded, and moved around in the Cosmos ecosystem.
111) The @StargazeZone team is also a core contributor to the CosmWasm and has worked to enable Ethereum bridges to allow for NFTs in Cosmos to go to Ethereum and the other direction.
112) @Stargaze has also discussed areas they can expand into like fractionalized NFTs and DeFi with NFTs. They have garnished a lot of attention lately with how seamless everything has been from their airdrop to launchpad to the new marketplace.
114) @Starname powered by IOV allows individuals and businesses to create named accounts. This can be very helpful for projects like *starnamelabs or in our scenario “*curiouscosmonaut” which allows for an easy landing page to track our research firm's wallet and send donations.
115) For example below a user can select the chain they want to send in and the dollar amount they would like to send. It also allows anyone using Cosmostation today to simply send to *curiouscosmonaut.
116) @terra_money was once considered a pillar of the Cosmos community by many. They had lots of interesting tools and platforms like Anchor, Mirror, NFTs, and wallet services. They had the famous UST coin that was algorithmically programmed to the U.S dollar.
117) At Luna’s height, the LUNA coin was worth 40 Billion dollars and there was 18.7 Billion dollars worth of UST. Around May 7th the UST depegged causing a collapse in the value of UST and destroying the Luna coin.
118) Today developers are exploring continuing on with the forked Luna network, moving to Cosmos, joining another project, or going to another ecosystem altogether.
119) @Umee is a layer 1 or “app chain” for DeFi, they facilitate borrowing and lending markets for Ethereum and Cosmos. Umee uses IBC and the Ethereum Gravity Bridge to connect the two ecosystems.
120) @Umee has received a lot of criticism for things like their very centralized tokenomics model, high valuation out the gate, not a good airdrop, and even some criticism of locked tokens being used for voting.
121) With this centralized setup off the bat, it will take a long time before Umee liquidity providers would have a real say in the platform.
122) This also goes against the Cosmos model as they are asking ATOM holders to provide liquidity and take part in the project without any real ownership in the project.
123) @VidulumApp is a wallet chain allowing people to hold the assets and earn VDL tokens. The idea appears to be essentialy to create a wallet ecosystem that is owned and governed by the users over time and create value for the token to help...
124) fund the continued development of the wallet infrastructure.
125) Curious Cosmonaut Research plans to become a platform that will decentralize Cosmos Research. It will aim to create a model similar to Seeking Alpha where content creators can get paid for writing articles and funds raised will be staked or used to provide liquidity..
126) on DEXs to create income to fund the platform in addition to offering NFTs and other rewards as incentives for content creators with time. Instead of focusing on a particular individual, we plan for the content creators to represent the platform.
127) Content creators can write articles and submit them for review to be published under their name or the Curious Comsonaut Research name depending on their preferences.
128) Today content is backed on Medium, Twitter, LikeCoin (IFPS), and the Cosmos Hub using custom memos, we plan to expand into a full suite built on a platform like Akash including a full yearly Cosmos book.
129) Today there are no incentives in place for content creators but we hope to change that in the future; if you would like to be an early supporter feel free to message Curius Cosmonaut Research directly.
130) If you enjoy our content any donations are appreciated, we have enabled a Starname to accept a wide variety of coins.
131) Tomorrow proof of backup on-chain will come.This post is based on this twitter thread.