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Thyborg ⚛ Profile picture
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Apr 29 • 12 tweets • 4 min read
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 🧵
First let's remind everyone that the value of $ATOM is not just represented by the price of the coin. In fact most of it's value so far has been in the form of generous airdrops distributed to stakers by the projects building on Cosmos
And right now, all of these chains participating in IBC must implement each other’s light clients. So with N blockchains, you need N * (N-1) implementations.
However, if one chain becomes a hub that mediates these transactions, everyone can directly perform IBC directly with the hub, and the hub can serve to route the actual transactions.
This is called a Hub-and-Spoke connectivity model, because a hub is connected to various spokes passing messages, thereby minimising the number of hops and connections required.
As @jdorman81 pointed out, IBC has facilitated over $118 b in cross chain transactions
A fraction of that being routed through the Cosmos Hub with fees paid in $ATOM would create significant demand by itself.
But it gets better. The Theta Upgrade brought us full composability between the Hub and other Cosmos chains via IBC, similar to smart contracts interacting on an EVM.
That means the Cosmos Hub users can perform transactions on other chains e.g swapping on #Osmosis or borrowing on #Umee or #Kava without leaving its interface.
But it gets better again. As IBC gets implemented in other ecosystems like Near & Polkadot, the number of transactions routed through the Hub grows exponentially.
As @jack_zampolin and @sergey_nog pointed out during that AMA, while there are still challenges to be solved around relayers & fees to make everything bullet-proof, it shouldn't be long before that vision becomes a reality.
It's an exciting time to be involved in Cosmos. I am myself planning to cover the whole ecosystem extensively through educative & digestible threads on airdrops, tokens, teams & projects, so you may consider retweeting & giving me a follow @ThyBorg_ ✌️

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More from @ThyBorg_

Thyborg ⚛ Profile picture
Apr 28
The Cosmos "alpha" from last week in one convenient thread. That's the rumours or news that have the potential to move the markets in the short to medium term (and for which clever investors might want to position themselves early) 🧵
The founder of a Polkadot-based parachain expects to complete an IBC integration this year
Octopus Network (which is NEAR-based) is also working on IBC integrations after receiving a grant from @interchain_io
Read 7 tweets
Thyborg ⚛ Profile picture
Apr 27
Many community members have reported missing on significant #airdrops by making small but quite consequential mistakes. I thought it would be useful to go over what you can do to optimize your decisions, so here’s my Ultimate Cosmos Airdrops FAQ thread 🧵
Why do Cosmos projects airdrop?
Most chains in Cosmos are built using the Tendermint consensus & Cosmos SDK, and several received $ATOM grants from important actors like @interchain_io and @ignite_com. Airdrops are a way to acknowledge the help received from the $ATOM community.
More importantly, airdrops are great community builders. It brings a lot of interest and loyal supporters to a project and promotes greater a decentralisation of the token. In #Cosmos, this is often reflected in the long term price performance
Read 14 tweets
Thyborg ⚛ Profile picture
Apr 27
The Osmosis bridge vote period is ending tomorrow at 5pm UTC. Here's how I'll personally be voting 🧵
First if you don't know why we need a bridge in the first place, you can have a look at that thread for a bit of background.
Second I'm actually with @wosmongton and I would rather have the bridges compete for a while before picking one
Read 9 tweets
Thyborg ⚛ Profile picture
Apr 25
Should #Cosmos projects continue to airdrop a large amount of their total supply to the community? Looking at the price performance of the projects that chose to airdrop against the projects that chose to launch on #Coinlist, the answer is a resounding yes 👇
I took the first price point available through Osmosis / Coingecko API and compared it to the price point for the same ticker yesterday before the weekly close.
The three big "airdrop" projects are up
$JUNO is up 255% from $4.2 to $14.9 since 21-Oct-2021
$OSMO is up 11% from $4.52 to $5.0 since 23-June-2021
$STARS is up 78% from $0.06 to $0.1 since 20-Dec-2022
Read 8 tweets
Thyborg ⚛ Profile picture
Apr 24
The bridge proposals are up on #Osmosis governance. But why do we need to select a "canonical bridge provider" in the first place? A quick educative thread on the basics 🧵
#Cosmos (like Polkadot) is an ecosystem of interoperable blockchains. It is optimised for connecting chains that deploy on them natively, e.g Juno & Osmosis on Cosmos, or Moonbeam & Acala on Polkadot.
Chains built with the Tendermint consensus & Cosmos SDK are IBC compatible out of the box, so the whole Cosmos ecosystem can plug in quickly and happily communicate.
Read 11 tweets
Thyborg ⚛ Profile picture
Apr 23
The Great Osmosis Bridge-Off is officially on and the vote is open until next Wednesday. Here's a selection of the best tweets & threads I've seen on the topic so far 🧵
@dynamicmanic & @steviewoofwoof with the original Medium post that presents all four candidates
@imperator_co explains how Nomad works
Read 10 tweets

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