State of the Cosmos

February 2022

The entire crypto market has had a rather turbulent February, with so much going on in the world affecting global market, blockchain notwithstanding. However, the fact that Cosmos SDK chains are holding strong and weathering the storm is truly a testament to the strength of the projects and the resilience of the community. New layer 1 projects built with the Cosmos SDK continue to launch and now we are starting to see the first layer 2 projects appear on the Juno chain as it just continues to ignore the overall market structure.

Cosmos Bridges

A number of bridges to Ethereum and Bitcoin have launched or are close to launch as the competition for which bridges will become the go-to bridges for the ecosystem heats up. Bridges to Ethereum include Umee, Gravity Bridge, Evmos and Sommelier. Nomic is a bridge to Bitcoin which has no competition at this stage and is looking very promising. Avalanche is developing a bridge to connect to the IBC as well. All these projects are bringing the blockchain space together to form the beginnings of the internet of blockchains. Read more about Cosmos Bridges here.

NFT’s

Stargaze launched their mainnet in January and are getting very close to launching the marketplace which will take place on the 2nd of March. Recently, announcements include the first NFT projects launching on the marketplace including the amazing looking Tardigrades. Another huge announcement from the Stargaze team is interoperability with Ethereum, meaning NFT’s minted on both Ethereum and Stagaze can be transferred to and from the Stargaze marketplace and OpenSea. This is huge news. Bridges to Terra are also in the works which will give access to RandomEarth. Game changing stuff for the NFT space.

OmniFlix has also launched its mainnet and is in the final stages of testing its dApps. The applications on OmniFlix are wild, with a marketplace boasting its own payment service call Stream Pay (SPAY) and the ability to mint, buy and sell NFT’s with any IBC compatible token. With the aforementioned bridges in play this means that not only Cosmos SDK tokens will be spendable, but also ETH. This is just scratching the surface of what OmniFlix can actually do so I highly recommend looking into OmniFlix and discovering their incredible array of use cases.

Juno Layer 2 projects

Juno has continuously moved from strength to strength since launch. One of the very few development teams in the blockchain space that delivers quality projects quickly, efficiently and on time according to their roadmap and announcements. First and foremost mention will be Junoswap. Junoswap is a layer 2 DEX built on Juno and has very quickly captured huge TVL even with the incentives contract incomplete. Junoswap team announced this week that the incentives contract is complete and is now undergoing testing and auditing and is due to go online within the next fortnight. An incredible achievement to the team who have once again garnered the trust of their community by bringing this contract to completion on schedule. With 50 applications, contracts and tools now up and running on Juno and many more in development this chain is one to be a part of.

Airdrops

This month was another hefty month for Airdrops as Cosmos/Osmo/Juno stakers received more airdrops from new projects. Junoswap snapshot were taken for the upcoming RAW airdrop and will be distributed in early March. Secret Networks’, Shade protocol came online this month and handed out tokens to stakers of ATOM and SCRT. Persistence finally announced the pStake airdrop which will be going out to users in the coming days. Stargaze round four and five airdrops will be released to recipients in March as well as Comdex airdrop round two. Nomic Bitcoin Bridge gifted the NOM token to ATOM stakers and Sommelier dropped their SOMM token to stakers of ATOM and LP providers on Osmosis. Likecoin handed out some tokens to stakers of ATOM, OSMO and JUNO. Gravity Bridge also dropped GRAV tokens to ATOM stakers. Further airdrops of Marble token (Juno L2) to JUNO stakers and Raccoon meme coin tokens to be handed out to Juno stakers as well in the coming weeks. Further announcements came from Hansum, Owlies, Diffusion and Ceberus, with many more confirmed and rumoured airdrops in the works. If the price action wasn’t enough to keep Cosmos SDK investors happy the airdrops are bringing smiles from ear to ear.

It’s been another massive month for the Cosmos Ecosystem with so much more going on than can be covered in a short article. From bridges that have been years in development coming to fruition, NFT marketplaces launching, airdrops every other week, new Dex’s and Smart-contracts exploding, February was a very exciting month for the Cosmos.

I’ll be deep diving into more chains and aspects of the Cosmos ecosystem over the coming weeks and months so subscribe if you haven’t already to keep up to date with everything Cosmos

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