UX Chain (formerly Umee) new proposal: It is recommended to merge Osmosis and UX Chain
Cosmos ecosystem lending platform UX Chain (formerly Umee) has proposed a new plan to merge the Cosmos ecosystem DEX Osmosis with Umee UX Chain to enhance network security, simplify the token ecosystem, and achieve the best DeFi functionality.
Cosmos ecological DeFi public chain Kujira may launch futures trading functions
On November 30th, Kujira, the DeFi public chain in the Cosmos ecosystem, had an undefined page for Futures trading on its official website, suggesting that the Kujira Futures function may be launched soon.
Cosmos Ecological Foundation invests US$100,000 in Celestia in 2021, currently valued at US$70 million
According to a post by John Galt, the strategic director of Stride, on X platform, the Interchain Foundation (ICF) of the Cosmos ecosystem foundation once invested $100,000 in Celestia, holding 1.6% of the shares, currently worth $70 million. The Cosmos ecosystem foundation also holds BTC, ETH, USD, and ATOM worth about $350 million in total.
Cosmos Co-Founder Plans Fork of Network Following Governance Change and Aims for Airdrop of New ATOM1 Tokens
Jae Kwon, the founder of Cosmos (ATOM), is planning to fork the blockchain after a successful governance proposal to limit ATOM inflation to 10%. The proposal, which reduced inflation from 14% to 10% and lowered staking rewards, was not supported by Kwon, prompting the idea for a new fork called AtomOne. Kwon aims to mend the divide in the Cosmos community by providing an alternative to the current governance architecture with AtomOne, which will lead the development and praxis of giving representation to every (sub)group. If the fork happens, there would be an airdrop of new ATOM1 tokens to various users within the community.
Cosmos founder initiated AtomOne network fork due to opposition to ATOM production reduction proposal
On November 27th, Cosmos founder Jae Kwon posted that although he voted against the proposal to reduce ATOM production and set the maximum inflation rate to 10%, the proposal still passed. Kwon believes that the final plan should include integrating ATOM with ATMO/ATMO1 so that ATOM will not be sold in large quantities and crash, but instead will be allowed to participate while the README content can be improved. Kwon stated that "Cosmoshub4" will fork and the new network will be called AtomOne, making it the current software, but it will transition to the minimum final product through its own plan and development team (more decentralized than Gaia). AIB will not be the only participant.
The Cosmos Hub community has voted to approve the “ATOM Production Reduction: Set the Maximum Inflation Rate to 10%” proposal
Cosmos Hub community has voted in favor of the proposal "ATOM Reduction: Setting the Maximum Inflation Rate to 10%," with a support rate of 41.1% and an opposition rate of 31.9%. The maximum inflation parameter for ATOM will be reduced from 20% to 10%, which will lower the current inflation rate of ATOM to 10% and reduce the stake annual interest rate from 19% to 13.4%.
dForce: Voted in favor of Cosmos community proposal to reduce staking inflation
dForce has posted on X platform stating that they have voted in favor of the proposal to reduce staking inflation in the Cosmos community. It is reported that the Cosmos Hub community is currently voting on the "ATOM Reduction: Setting the Maximum Inflation Rate to 10%" proposal, which aims to reduce the maximum inflation parameter from 20% to 10%, bringing down the current inflation rate of ATOM to 10% and reducing the staking annual interest rate from 19% to 13.4%. The voting deadline is November 26th.
Atomics Market founder Erik will resign, and the new team will pay 33,000 ATOM in full
Regarding the market and browser Atomicals and ARC-20, early member of the Atomicals Market community shep.eth said that Atomicals Market (AM) founder Erik will no longer hold any management position, and the new CEO will be a friend of shep.eth.<br>Currently, the CEO position is still in progress and has not been completed. The entire 33,000 ATOM lost in the previous two "zero purchase" events will be fully compensated by the new team within a week after the handover is completed; The overall operation and development team of AM will be adjusted to enhance the testing process; After fixing the vulnerabilities, AM will reopen trading and establish a security fund guarantee mechanism to deal with possible unexpected events in the future; AM will reconsider and adjust its brand, including logo and name. In addition, shep.eth stated that he will not participate in AM management and decision-making.
The Cosmos Hub community opens a vote on the proposal to allocate 600,000 ATOM to pSTAKE for liquidity staking growth
On November 24th, the proposal regarding the allocation of 600,000 ATOMs for pSTAKE liquidity staking growth in the CosmosHub community has opened for voting and the deadline for voting is December 5th. The proposal aims to increase the liquidity staking of stkATOM for pSTAKE by allocating 600,000 ATOMs as liquidity owned by the Cosmos Hub protocol on Astroport (Neutron) and Dexter (Persistence). As a reward, pSTAKE Finance (through PSTAKE governance) has promised to share 15% of its total revenue from ATOM liquidity staking with Cosmos Hub and waive the protocol fee charged for 300,000 ATOM liquidity staking (currently set at 5%).
Cosmos Hub community votes to adopt Skip Block SDK proposal
Cosmos Hub community has voted in favor of the "Adoption of Skip Block SDK" proposal, with a final approval rate of 88.8%. The proposal suggests using the open-source Skip Block SDK to update the Cosmos Hub fee market. After Cosmos Hub upgrades to Cosmos SDK 0.47, the next upgrade will include the EIP-1559 fee market channel, which will help improve Cosmos Hub's revenue model and expand its security products.
Cosmos ecological tokens have generally risen recently, with ATOM rising by 12% on the 7th
According to Coingecko data on November 15th, a recent general rise in Cosmos ecological tokens, including: ATOM - 7-day increase of 12%, currently priced at $9.33; CRO - 7-day increase of 10.5%, currently priced at $0.090; RUNE - 7-day increase of 57.4%, currently priced at $5.06; KAVA - 7-day increase of 11.6%, currently priced at $0.80; KUJI - 7-day increase of 79.1%, currently priced at $3.55; OSMO - 7-day increase of 25.9%, currently priced at $0.63.
Cosmos SDK releases Eden (v0.50) version
On November 8th, Cosmos SDK released the Eden (v0.50) version with the following major updates: comprehensive improvement of consensus mechanism flexibility with ABCI++, reduced complexity of module creation with AutoCLI, improved disk storage and performance with IAVL 1.0, advanced execution of block time with the new "optimistic execution" feature, and improved transaction signing experience with Sign Mode Textual. This version also includes optimization of modular writing and updates to policy modules.
Quasar Finance, the Cosmos ecological DeFi protocol, will launch its first round of airdrops for testnet participants at the end of this month
According to official sources, the airdrop proposal for Cosmos ecosystem DeFi protocol Quasar Finance has been approved. The first round of airdrops will be available to testnet participants and will begin in 22 days. Users can currently check their eligibility for the QSR airdrop on the corresponding page.
Previously in January, Quasar Finance completed a $5.4 million financing round with a $70 million valuation, led by Shima Capital and with participation from Polychain Capital, Blockchain Capital, HASH Capital, CIB, and Osmosis co-founder Sunny Aggarwal.
In March, the Quasar Finance mainnet was launched.
The cross-chain liquidity protocol Catalyst has been launched on the inEVM test network, allowing token exchange between Cosmos and Ethereum
On November 2nd, Catalyst, a cross-chain liquidity protocol for modular blockchain, has launched a testnet with inEVM, which enables composability across Cosmos and Solana. Currently, it has connected liquidity between inEVM and Scroll Sepolia, allowing anyone to exchange INJ and ETH between Cosmos and Ethereum.
As previously reported by Jinse Finance, Injective, a Layer1 blockchain based on Cosmos, announced the launch of Caldera, a Rollup-as-a-Service (RaaS) project that enables true composability across Cosmos and Solana with inEVM.
Cosmos Ecological Foundation ICF: IBC will soon be expanded to Avalanche
Interchain Foundation (ICF) of the Cosmos ecosystem fund announced on X that the cross-chain communication protocol IBC will soon be extended to Avalanche. The Landslide Network team is currently developing an IBC light client on Avalanche, enabling seamless interoperability between Avalanche, Cosmos Hub, and over 100 other blockchains that support IBC.
Cosmos’ proposal to transfer 42.72 million unclaimed NTRN to the Cosmos Hub community pool was approved
On October 30th, the Cosmos #835 proposal was passed, and 42.72 million NTRN coins, worth $13.24 million, which no one claimed, will be transferred to the Cosmos Hub community pool.
Earlier, on October 10th, Binance announced the launch of the 38th new coin mining project, Neutron (NTRN). <br>
The Cosmos Hub community proposes to allocate an annual budget of over 900,000 ATOMs to the core team, and currently the majority of votes are against it
on October 27th, the Cosmos Hub community proposed to allocate over 900,000 ATOM to Informal Systems and Hypha Worker Co-op in the 2024 budget. These funds will mainly be used for the continuous maintenance of cross-chain security protocols, upgrades to the Cosmos Hub Gaia core software, and optimization of testing network programs.
Informal Systems is the core development team of Cosmos Hub, while Hypha Worker Co-op focuses on the consumer chain field. Currently, the opposition vote is in the majority for this proposal.
DYdX Chain is officially launched on the mainnet as an independent Cosmos Layer 1
dYdX V4 and its independent Cosmos blockchain have launched the alpha mainnet phase. DYdX Chain, as an independent Cosmos Layer 1, has officially launched on the mainnet. As of 1:00 PM Eastern Time, dYdX Chain validators have created the genesis block of dYdX Chain.
Cosmos Ecological Liquidity Staking Project Stride Temporarily Shelves Plans to Convert STRD to ATOM
Cosmos ecosystem liquidity pledge project Stride will suspend its plan to convert its native token STRD into ATOM, the token of the core blockchain of the Cosmos ecosystem, Cosmos Hub. Just nine days ago, Vishal Talasani, co-founder of Stride Labs, proposed at Cosmoverse in Istanbul that Stride should merge with Cosmos Hub.
However, the team stated: "After a week of public discussion, the Cosmos Hub+Stride community has suspended the STRD/ATOM conversion, which can be considered shelved, but not completely abandoned."
The Potential and Opportunities of Application-specific Chains on Cosmos
The public chain world is ever-growing. While inflows of users and liquidity bring usage activity and transaction volumes, block space becomes increasingly scarce and valuable. This makes the narrative of a super blockchain network for application-specific chains appealing.
