jakiro
Written article: TIA, Techub News
Although COSMOS has recently been trapped in governance scandals, from the dynamic point of view, from June to August, there have been agreements to initiate proposals to join the COSMOS HUB consumer chain.That’s right, this policy that has been advancing in COSMOS 2.0 since 2022 has finally begun to progress.
It happened that LSM has been launched from September last year to now for a while. It can also be analyzed by this to see how many pledge liquidity has been released.
Atom War also gathered a wave of projects to apply for funding, and it seems to officially start the first stage of advancement.
Gathering ICS, LSM, Atom War, add a pledge rate, this article will briefly take a brief look at the specific effects of these policies.
Pledge
Data from cosmosoutpost
Judging from the pledge data, it is terrible.Since the scandal of COSMOS’s corruption on July 31, COSMOS has begun to have huge pledge.On July 31st, about 3.3 million ATOM, about 1.7 million atoms pledged on August 4, about 650,000 atoms on August 5th, and about 1.66 million atoms on August 13th.On the 15th, about 8.1 million atoms were resolved.In the past few days, 1211 million ATOM were pledged, accounting for nearly 3%of ATOM circulation.The price of ATOM also fell from US $ 6.15 on July 31 to $ 4.62 on August 18, a 33%decline.
Atom token price
Replication Security (ICS)
The main role of the Replication Security is to provide HUB verification verification for other COSMOS ecological chains, and for other small -scale chains of the COSMOS ecosystem that cannot provide huge verification costs to share HUB security.These shared HUB security chains are called “Consumer Chain”.To be the HUB consumer chain, you need to submit the proposal first, and write in the proposal to write the cost of being willing to be a consumer chain (how much transaction fee to HUB, etc.).chain.
At present, a total of two chains have passed the proposal.One is Neutron and the other is Stride.
Neutron is the first consumer chain of HUB. It was launched in May 2023.
-
25% transaction fee, the fee is paid at Atom or NTRN
-
25% MEV income, the cost is paid at NTRN
At the same time, Neutron also shot 70,000,000 NTRNs to COSMOS verifications, accounting for 7% of the total supply of NTRN.Later, more than half of the (42,727,950) NTRN did not apply for it. This part was transferred to the COSMOS HUB with a value of about 15.72 million US dollars (data on August 18), which was 0.08%of the ATOM market value.
Another consumer chain is Stride.Stride is a liquidity pledge protocol, and its own income is a lot.
-
15% liquidity pledge reward
-
15% STRD inflation pledge reward
-
15% of MEV income
-
15% transaction fee
Partial set secrety
Since all verifications need to provide verification for the consumer chain, the awards obtained by the consumer chain from ICS usually cannot cover the cost of the operating chain. People began to complain that ICS has increased additional burden on the verifications.Then the Partial Set Security was proposed.PARTIAL SET Security reduces the cost of ICS to verified by the number of authenticants who must run each consumer chain by reducing the amount of each consumer chain.The verified by the chain can get a larger proportion of rewards.This proposal was passed on April 12 this year.
ICS without permission
The consumer chain without permission is another proposal after the Partial Set Security. It allows anyone to create an optional consumer chain without having to govern proposals.This will make the chain start faster and the resistance is smaller.The consumer chain can be set up with some basic parameters, and how many verifications choose to start after joining.At present, the cost of the consumer chain is directly given to the HUB, and the HUB may then initiate a proposal to divide part of the cost to the verification person after receiving the fee.This is actually very inconvenient. The time to issue subsidies is greatly delayed, which may cause unfairness to some verifiedrs.In the future, in the ICS that does not need to be licensed, the Xu consumer chain can directly set up the amount of commission to pay the verification person, and may have a direct payment function.
The ICS proposal without permission is currently voting and will end the vote on August 21.Because switching to a chain that does not need to be licensed, it needs to be restructured on the code library. Although theoretically, the creation of no license can be achieved, the current version of ICS still uses a governance proposal to create the consumer chain.
Consumer chain protocol in the proposal
From June to August, there were successive proposals to join the COSMOS HUB consumer chain.Because of the cost of starting the consumer chain, even if some projects have initiated proposals on HUB, they still have not completed the follow -up steps.In the past two months, HUB officials pushed out that the agreement may become the consumer chain.In addition to the EVMOS usage rate is slightly higher, the other two chains estimated that the activity should be limited.Therefore, from the actual situation, it seems that the policy of the consumer chain is not so optimistic.
Lsm liquidity
For any decentralized network, consistent, available, and deep asset liquidity is essential.The LSM liquidity module enables the ATOM pledker to turn the pledged Atom to the liquidity pledged asset through the liquidity pledge module.In order to increase the activity of DEFI in the COSMOS ecosystem, it is used to make up for the problem of ATOM’s actual use rate in the ecosystem because of the ultra -high pledge rate of ATOM.
The LSM module was officially launched on September 13.Here we mainly observe whether the activity of Defi in the COSMOS ecosystem has become higher after the LSM module is enabled. By the way, see the currency price of these liquid pledge chains.
At present, the LSM module is mainly used in the three liquidity pledge protocols of PSTAKE, Stride, and Quicksilver.Because PSTAKE and Quicksilver’s historical data are not available for the time being, this article mainly organizes Stride data.
The figure below shows the lock value of Statom in Stride.It can be seen that since September 13th, the value of the lock -up of Statom has increased significantly, and then began to decline after the peak value on April 8.Although it is a downward trend, compared to the price of ATOM at this stage, the number of ATOM in its locking should not decrease a lot, but the growth rate should be reduced.
Data from Stride
Atom token trend
As the Stride of the liquid pledge chain, its token prices have also risen significantly since October, but the peak value in mid -February began to fall, which was a month earlier than the overall market in mid -March in the middle of March.
Stride token trend
pstake token trend
PSTAKE’s performance is also good, and the increase is happy.
Quicksilver tokens trend
Quicksilver has a good trend at the initial stage, but because the subsequent TVL cannot go up, the price of currency prices will also be extremely pulled.
Generally speaking, LSM is quite effective for the consumption chain.
From the perspective of the number of pledge, the current STRIDE pledge is about 4,223,479 atoms, and PSTAKE pledge is 661,066 atoms, totaling 4,884,545 atoms.Because the upper limit of the LSM is 25%of the total pledge, about 60 million.Although it is incomplete statistics, the pledged Atom currently accounts for less than 10%, compared with 32.34% of the total pledge of Ethereum (the number of liquidity pledge is 11,043,280 Ethereum, the total number of pledges isIt is 34,140,035 Ethereum), and there is still a lot of room for rise.Subsequent measures can continue to observe related data and whether there are relevant incentive LSM.
Atom war
Atom War is similar to Curve War.Because some projects in COSMOS have some projects to ask HUB to obtain ATOM funding (similar to loans), based on this idea of ATOM War, the project that wants to get ATOM funding can compete with each other.Guide the project to obtain the right to vote, this mechanism is mainly implemented through Hydro.
Demex, Electron Protocol, Nolus, Shade Protocol are the first batch of competitive projects.Since the auction has not yet begun, there is no observable data.
summary
In summary, it seems that a series of revitalization plans are not optimistic, and the condition of continuous pledge also reflects this to a certain extent.In fact, COSMOS’s vision and many measures are very advanced. For example, the proposal of some concepts such as shared security is also very early, but in the end, it has rarely benefited.(Of course, this is also related to the conditions of each project itself. The development of COSMOS sharing is indeed more troublesome.) But I have to say that slowness is indeed slow.
At the same time, COSMOS has also faced many problems facing a certain degree of development -centralization of governance.The community is also quite dissatisfied with the behavior of COSMOS, gangs, and spending money. It may be waiting for too long, or it may really be disappointed with COSMOS. Even some creation wallets have begun to pledge Atom.
I still remember that in COSMOS 2.0 just launched, a group of people are hot and hopeful to accept various interviews. When I watch the relevant podcast video interviews, I have even been infected by their enthusiasm.But sometimes, the fact is so cruel. At least so far, the result is not so ideal.Although everyone has been accusing COSMOS, especially for the man Ethan behind COSMOS, Ethan is quite dissatisfied.But I still believe that that love to wear skirts, hoop hair, no shave, interested in currency, hoping to apply ecosystems in biology to Ethan in blockchain designSo unbearable.
PS: Interested readers can take a lookEthanSelf -bouncing self -singingsongIt is really real and very released.
