With this upgrade, Nomic is bringing Bitcoin to Cosmos.
How will it work?
π Generate a Bitcoin deposit address on the Nomic app
π This bitcoin address is linked to your Nomic account
π Receive NBTC on your Nomic address
@TeamKujira@nomicbtc A bridge fee in Bitcoin is taken by Nomic and given to $NOM stakers.
For more info:
π The new Bitcoin features will be available starting July 5th at 18:00 UTC.
π $NOM will be tradable after the upgrades
Mainnet is live! The team aims to fill the gap between DeFi and institutional market and their ambition is to offer compliant DeFi products empowered by Cosmos technology.
@AntonioMJuliano@BanklessHQ@dYdX This decision has been a great source of promotion for the Cosmos ecosystem & the app chain world, making it a solid challenger to the L2 vision.
Seeing that, we can definitely wonder:
Is the future going to be an app chain world or a L2 world?
π Leaving your money on an exchange/entity that went bankrupt/stole your funds (Mt. Gox)
πLosing the private key/seed of your cold wallet
πLeaving you funds on a specific blockchain/protocol that crashed (Terra)
πHaving a poor risk management
@cobie To survive, @ledgerstatus used a great analogy called the "Horcrux method", which is a Harry Potter reference.
To survive, you just have to split your soul into many different places. Same for your money: spread across exchanges, custody types & blockchains to survive
A bug on Osmosis liquidity pools happened right after the v9 nitrogen upgrade. If you added liquidity to a pool and then remove it, your money grew by 50% instantly.
Fortunately, validators worked with the core team to halt the chain and protect it.
The estimated loss is β$5M, the team is in contact with majors exploiters to get the funds back & will use the developer treasury to backstop the unrecovered funds.
This event demonstrated the power of a sovereign chain when everyone collaborates together to handle a crisis.
1st generation blockchains are all very sovereign with just one purpose, think about Bitcoin for example. The big issue is that those 1st generation blockchains don't speak/interoperate with each other.
@EvmosOrg Please understand that 300M tokens will be issued through inflation the 1st year. #Evmos has a high inflation rate at the beginning, that's why it's important to stake your tokens otherwise your bag gets diluted π¨