Thyborg Profile picture
Economist, Game theorist, Web2 founder | Now expanding @cosmos via @informalinc | Writing the Interchain Reports
The Yield Farmer Profile picture Eric Travis Profile picture johnwaynepk Profile picture 3 subscribed
Jan 9, 2023 11 tweets 2 min read
The Cosmos Hub is only a few weeks away from the launch of replicated security and the introduction of the very first value-capture mechanism for $ATOM. Here's a brief description of what to expect after the interchain security module is (hopefully) approved by governance 🧵 It starts with each consumer chain team preparing a custom forum proposal with detailed information on:
- their business model
- the audits performed
- their governance structure
Nov 27, 2022 11 tweets 2 min read
The Twitter war between Osmosis & Kujira is more productive than it looks at first sight ; it nicely pits against each other two different approaches to build & incentivise a Cosmos app-chain DEX and will likely help other teams pick the right model Osmosis merrily turned on the money printer

They use inflation to incentivise liquidity-providers

They have no problem supporting large funding requests to the community pool from several external DAOs

They provide generous grants for a wide range of initiatives
Nov 15, 2022 12 tweets 3 min read
With the $ATOM 2.0 white paper veto-ed by governance, what's the plan for the Cosmos Hub moving forward? A step-by-step description of what I'd like to see happen next 🧵 Let's first ship Interchain security. We're currently tracking the below timeline pretty well
Oct 25, 2022 16 tweets 4 min read
Some thoughts on the latest revision of the Cosmos Hub 2.0 white paper and my quick views on the new risk / reward ratio TL:DR

The R/R on interchain security, liquid staking, scheduler & the allocator is great

The R/R on issuance, treasury & new governance system has been sufficiently improved in the latest revision below
Aug 2, 2022 13 tweets 5 min read
Could IBC ever be hacked like @nomadxyz_ yesterday, @harmonyprotocol in June, @AxieInfinity in March?

While it's early to claim anything in crypto is bullet-proof, let's review why IBC is as secure as an cross-chain protocol can get 🧵 For a basic idea of how IBC works, I recommend giving the thread below a quick read
Jul 21, 2022 27 tweets 49 min read
The battle for Cosmos liquid staking market shares has been seriously heating up over the past couple of months

In today’s thread I’m running the new contender @stride_zone through my usual project quality checklist 🧵 @stride_zone Stride is the fifth protocol to be listed in the Cosmos Reports

For the details on the investment framework, here's the thread
Jul 20, 2022 8 tweets 4 min read
If you were looking for the best way to easily understand how IBC works, look no further than @adi_r_r's postal analogy:

IBC transport layer: Postal service
IBC packets: Letter
IBC application layer: Recipient

More details on crypto's most powerful cross-chain protocol 🧵 @adi_r_r IBC consists of a transport layer and an application layer

The transport layer provides the infrastructure to establish secure connections & authenticate data packets between chains

The application layer defines exactly how data packets should be packaged and interpreted
Jul 15, 2022 13 tweets 3 min read
Like it or not, the Cosmos ecosystem is bound to become the ultimate MEV bots fun park

Interchain accounts, interchain security etc. are all making the playground space bigger & better

Let's kickoff a series of reasonably short Cosmos MEV threads with Part 1: the Basics MEV stands for miner extractable value & represents the profit that a "miner" can make through its ability to include, exclude or re-order transactions within the blocks

The term Miner comes from the Proof-of-Work world - for Cosmos, that'd be the validators & relayers
Jul 13, 2022 12 tweets 7 min read
The Cosmos Hub is the Hub of the Cosmos ecosystem, hence the name. There is, however, another Cosmos chain whose goal is to become a Hub for the entire crypto space

That chain is @axelarcore and today's thread goes over that ambitious vision 🧵 @axelarcore If you're unfamiliar with Axelar, check out my 1st rundown thread
Jul 12, 2022 4 tweets 1 min read
If Cosmos is the USA, the Hub is New York

The liquidity-rich EVM ecosystem is Europe & the nascent but growing Polkadot ecosystem is Latin America

Assets will be bridged to consumer chains from Ethereum & Polkadot, and then flow to the rest of the ecosystem Osmosis & Juno are California & Texas, i.e majors (and somewhat competitive) economic poles

They are powerful enough to open the own direct routes, i.e relay channels & bridges
Jul 10, 2022 10 tweets 9 min read
It appears to me that the crypto world hasn't priced in the fact that @CelestiaOrg, @axelarcore & @agoric are three of the most exciting & technologically-innovative projects in the entire space, and they've all made the decision to build on top of Cosmos @CelestiaOrg @axelarcore @agoric Celestia is building the first modular blockchain network to make deploying a blockchain as easy as deploying a smart contract
Jun 26, 2022 16 tweets 30 min read
If #Cosmos was a European football league, it's safe to say it just had its biggest transfer season ever

A recap of the confirmed migrations and why it matters 🧵 The football league analogy is quite appropriate because similar to the major clubs with players, established blockchains often have to extend massive financial offers to attract the top projects
Jun 23, 2022 21 tweets 16 min read
Yesterday @dYdX announced their decision to spin up their own chain using the Cosmos SDK, which immediately made the #Cosmos hashtag trending on Twitter everywhere

In this thread, I cover what is DyDx, their decision and the massive impact for both Cosmos & Ethereum roll-ups 🧵 @dYdX dYdX is a decentralised exchange for perpetual contracts

A perpetual contract is a special type of futures contract, which itself is an agreement to buy or sell an asset at a predetermined price at a specified time in the future
Jun 21, 2022 13 tweets 7 min read
A Thyborg exclusive: an upcoming Cosmos L1 with solid backing is in the process of bringing a dozen of disillusioned Solana protocols to their permissioned smart-contract Cosmos chain 🧵 Solana made a name for itself because of the low fees & high

The official documentation had the theoretical transactions per second (TPS) at 65K

For reference, Visa processes an average of 1,7K TPS and the network can theoretically handle 24K

Ethereum is at 12 TPS
Jun 17, 2022 16 tweets 11 min read
$ATOM - the number thread

A complete breakdown of the key metrics of the Cosmos Hub's native token and King of the Interchains 🧵 If you've missed the first $ATOM thread, you may be interested to give a look first
Jun 16, 2022 19 tweets 5 min read
The ranking working group is now 62 validators strong. Since several interesting viewpoints & feedback came up on both Discord & Twitter in the process, here's a quick thread to share my thoughts on the best questions & observations 🧵 If you've missed the first part and you have time for some reading, here's the original thread
Jun 14, 2022 33 tweets 31 min read
We're starting a community effort to build an strong unbiased ranking of active Cosmos validators based on a set of agreed-upon quantitative & qualitative criteria

A statement of purpose and an invitation for all community validators to join the effort 🧵 In Cosmos and other PoW blockchains, validators play the critical role of signing transactions and securing the network

However, a major issue all networks currently have to deal with is a massive concentration of economic and voting power in their validator set
Jun 13, 2022 18 tweets 32 min read
#Terra's meltdown led many native protocols to look outward to the #Cosmos & realise the benefits of joining an ecosystem of fully interoperable & scalable app-chains

One such project is @mars_protocol and in today’s thread I’m running it through the usual quality checklist 🧵 @mars_protocol If you're unfamiliar with my investment framework, you may want to have a look at this thread first
Jun 9, 2022 14 tweets 10 min read
Back in April, @axelarcore rather quietly won the great Osmosis bridge-off to become the canonical provider for non-IBC assets

As they are getting closer to their token launch, I ran the project through a quality checklist to see where it stands 🧵 @axelarcore If you're unfamiliar with my investment framework, you may want to have a look at this thread first
Jun 6, 2022 13 tweets 7 min read
The $LUNA crash was particularly hard on #LUNAtics because many had most of their net worth on #Terra

It was also felt across the #Cosmos because $UST was a base pair on Osmosis, Sifchain & Crescent pools

A quick primer on Modern Portfolio Theory in that context 🧵 That thread was actually inspired by that honest & candid post by @larry0x, which I then saw echoed by many other smart people in the Terra community
May 31, 2022 12 tweets 42 min read
Unlike most (if not all) other L1s, #Cosmos doesn't have a core team ; yet over the last year, the ecosystem managed to ship ground-breaking tech after ground-breaking tech at a stunning pace. This is what decentralised software development looks like in the Cosmos 🧵 @interchain_io is a minimalistic (less than 10 persons total) Swiss foundation whose primary role is to provide funding to the Core contributors

The Foundation holds the trademark for "Cosmos", "Interchain" and a couple of terms

Key people include @billyrennekamp & @crainbf