This article sorts out the key ecological projects of Cosmos
Originally Posted by Babywhale, Foresight News
Cosmos, which is also a "cross-chain twin star" with Polkadot, has attracted the attention of the market because of the proposal of Cosmos 2.0. Cosmos is not a public chain with smart contract functions in the traditional sense, but it can provide Cosmos SDK for the application chain (zone) in the ecology. Application chains and ecological projects can also communicate with other peers through access to IBC (inter-chain communication protocol) Items interact.
Although Cosmos has not been launched for a short time, its license-free mechanism has not attracted too much attention from the market like Polkadot due to the capital concentration required for parachain auctions. However, since the beginning of this year, the development of projects such as Evmos, Juno, and Canto in the Cosmos ecosystem has brought a lot of market enthusiasm. Well-known projects such as dYdX have also expressed that they will develop application chains based on the Cosmos SDK. In addition, the Cosmos ecology has also attracted the attention of capital. Injective, a Cosmos-based decentralized smart contract platform, announced in August that it had completed a $40 million round of financing led by Jump Crypto. Tharsis Labs, the core developer of Evmos, the Cosmos ecological EVM compatible chain, previously announced the completion of a $27 million round led by Polychain Capital. Seed round financing.
Although the previous ATOM 2.0 proposal was not approved, the community did not object to all the content of the proposal. It is believed that after some adjustments, Cosmos 2.0 will eventually come. Updates such as protecting the application chain through the Cosmos Hub and keeping ATOM issuance at a fixed value may have the opportunity to bring new narratives to the Cosmos ecosystem.
Since the use of the Cosmos SDK does not require a license, the Cosmos ecological projects are relatively complicated. This article only takes an inventory of the key projects that have received financing in the Cosmos ecosystem and have received high market attention (the inventory projects do not include ecological projects on the smart contract public chain, and are based on Cosmos Ecological application chain), so that users have a general understanding of the current Cosmos ecological application chain and related projects.
Smart Contract Platform
Evmos
As the largest EVM-compatible smart contract platform in the Cosmos ecosystem,EvmosThere was a short-lived upsurge at the beginning of this year due to the payment of Gas fees to all users on the Ethereum chain. However, the launch of Evmos was not smooth sailing. After several delays, Evmos was officially launched at the end of April.
According to DefiLlama data, the current TVL on Evmos is about 3.9 million US dollars, of which DEX Diffusion Finance on Evmos accounts for 83.35% of the total TVL. Other DEX and lending agreements, such as EvmoSwap, Coslend, Cronus Finance, etc., are only tens of thousands USD TVL, did not really attract enough users. Evmos core developer Tharsis Labs previously announced the completion of a $27 million seed round led by Polychain Capital.
Juno
JunoAlthough it is also a smart contract public chain, it is not compatible with EVM, but only supports CosmWasm contracts. This means that it is more difficult for pan-EVM ecological projects to integrate the public chain. The official website shows that there are nearly 40 Juno ecological projects, but most of them are relatively low-profile and have a small number of users. Currently, DefiLlama only includes DEX Junoswap on Juno, with a TVL of about $9.6 million.
Terra
believeTerraWithout too much introduction, this giant with a market value of 40 billion US dollars due to LUNA and UST "disappeared" overnight due to the decoupling of UST. At present, Terra has been forked into Terra Classic and Terra 2.0. At its peak, there were dozens of ecological projects including Anchor Protocol. DefiLlama shows that its TVL once reached more than 20 billion U.S. dollars, but currently there are only 6 million U.S. dollars left .
At present, there are still many supporters in the Terra ecology, but a large number of projects have fled and migrated to Polygon, Arbitrum, etc.
Canto
CantoIt is also an EVM-compatible smart contract public chain developed based on the Cosmos SDK, mainly focusing on the DeFi field. Its main products include DEX and lending. Its lending products are mainly used to mint the over-collateralized algorithmic stable currency NOTE. Due to its compatibility with EVM and its high liquidity mining benefits in the early stage, Canto has deposited more high-quality assets such as Ethereum, USDT, and USDC. According to DefiLlama information, the current TVL on Canto has reached 75.87 million U.S. dollars, and it once exceeded 160 million U.S. dollars at its peak.
Sei Network
Sei NetworkAiming to build a high-speed transaction-focused blockchain, it was developed by Sei Labs, founded by Goldman Sachs and Robinhood Markets veterans. According to the public information of the project, the characteristics of Sei Network include:
Parallelization. Allows simultaneous processing of independent transactions, improving overall throughput and latency.
Focus on trading. Built using the Cosmos SDK and Tendermint, with a built-in Central Limit Order Book (CLOB) module.
Anti-MEV. The Sei design aggregates each order at the end of the block, executing the order at the same price to prevent front-running.
Compatible with EVM. In addition to supporting CosmWasm, Sei will also be compatible with EVM to facilitate the migration of pan-EVM ecological projects.
Sei Network announced at the end of August that it had completed a US$5 million financing led by Multicoin Capital, and announced the launch of a US$50 million ecological fund at the end of September.
Injective
InjectiveOriginally a decentralized derivatives protocol, it launched a smart contract layer in July and became a smart contract platform focused on DeFi. Injective announced in August that it had closed a $40 million funding round led by Jump Crypto.
Kava Network
Kava NetworkIt is also an EVM-compatible Cosmos ecological smart contract platform, and it has integrated mainstream DeFi projects such as SushiSwap and Curve. It didn't exceed $100 million either.
According to DefiLlama information, the current TVL on Kava Network is about 215 million US dollars, and reached a peak of 650 million US dollars in November 2021.
Cronos
CronosIt is a public chain launched by the cryptocurrency exchange Crypto.com. There are nearly 80 ecological projects on it, but the market popularity of most projects is not high. According to information from DefiLlama, the TVL on Cronos is currently only about US$430 million, and reached a peak of US$3.2 billion in April this year.
It is worth mentioning that among the public chains launched by cryptocurrency exchanges, OKChain has also been compatible with Cosmos IBC in 2020, but it is more suitable to be positioned as an EVM compatible chain.
Modular Blockchain
Celestia
CelestiaIt is a modular blockchain that integrates the advantages of the sovereignty and scalability of the Cosmos public chain, and at the same time has the characteristics of shared security and easy deployment. Compared with the parallel relationship between other Cosmos ecological public chains and Cosmos, Celestia is more like Cosmos The "two-layer network" further expands the advantages of Cosmos but still integrates the characteristics of Cosmos itself. Celestia itself is not a smart contract platform, but it allows developers to create application chains based on the network. It can be said that Celestia has successfully brought up the narrative about "modular blockchain".
In October, Celestia announced the completion of a $55 million funding round co-led by Bain Capital Crypto and Polychain Capital.
DeFi
Osmosis
Osmosissecondary title
Comdex
ComdexPositioning itself as the DeFi infrastructure layer for Cosmos. It itself has a problem of blurred boundaries between the DeFi application chain and the DeFi-focused smart contract platform. Currently, only the cross-chain stablecoin protocol Harbor has certain users, so it is temporarily positioned as a DeFi application chain.
Harbor was officially launched less than a week ago, and at the same time launched the over-collateralized algorithmic stable currency CMST that can be minted using axlUSDC, ATOM, etc.
Crescent Network
Crescent NetworkOriginally known as Gravity DEX, Gravity DEX was originally supported by the Cosmos official team and built directly on the Cosmos Hub, and then migrated to the Cosmos ecological application chain Crescent Network. replace. According to DefiLlama information, the current TVL on Crescent Network is about 7.5 million US dollars, and it reached a peak of nearly 170 million US dollars at the beginning of the year.
Umee
UmeeIt is a multi-chain lending platform of the Cosmos ecology, aiming to become the lending center of the Cosmos ecology. Umee previously completed a $6.3 million seed round led by Polychain Capital in June 2021, and completed a $32 million round of financing through the CoinList token sale at the end of 2021.
Although it has been approved by the capital, its official website shows that the amount available for borrowing on it is only about US$65,000. There was an upsurge when the testnet was launched in the middle of this year, but it has not received too much attention since the mainnet was launched.
Mars Protocol
Mars ProtocolTwitterTwitterAccording to the information released on November 25, the development progress has reached 70%.
Liquidity pledge
Stride
StrideIt is a recently launched Cosmos ecological liquidity staking protocol, which currently supports users to pledge ATOM, OSMO, STAR, and JUNO and mint corresponding stTokens. In addition, users can obtain rewards of Stride's native token STRD by adding stToken liquidity on Osmosis.
StakeEasy
StakeEasySimilar to Stride, it currently supports staking JUNO and SCRT to mint seJUNO and seSCRT. According to its official website, StakeEasy plans to support Cosmos Hub, Osmosis and MultiversX (formerly Elrond) in the future.
Persistence
PersistenceCross-chain
Cross-chain
Axelar
AxelarIt mainly realizes the cross-chain of Ethereum ecological tokens (such as USDC, WETH, WBTC, DAI, etc.) to the Cosmos ecosystem to provide liquidity. Axelar completed a $25 million Series A round led by Polychain Capital in July 2021 and a $35 million Series B round in February 2022 at a valuation of $1 billion.
Gravity Bridge
Gravity BridgeIt also supports ERC-20 tokens (currently supports USDT, USDC, DAI, WETH) cross-chain to Cosmos ecology, but currently Osmosis supports more Axelar cross-chain to Cosmos axlToken.
IRIS Network
IRIS NetworkIt was originally positioned as an interoperable network that can support heterogeneous blockchains, but its current official website shows that IRIS Network has transformed into a multi-chain NFT network.
NFT
Stargaze
Stargazeprivacy
privacy
Secret Network
Secret NetworkOracle
Oracle
Band Protocol
Band ProtocolWith BandChain developed using the Cosmos SDK, data requests to Band Protocol oracles will consume BAND tokens. At the same time, BandChain has a consensus mechanism similar to other Cosmos ecological chains, and validators protect the network security.
The Cosmos ecological project is not limited to the above-mentioned parts, but also includes the decentralized computing platform Akash Network, the decentralized VPN network Sentinel, the Meme public chain Chihuahua, etc., as well as the recently launched DeFi infrastructure Rebus, which focuses on NFT, GameFi, Teritori in the field of music and video, etc., will not be repeated here. If such projects make greater progress in the future or new Cosmos ecological projects emerge, they will be supplemented.
