What other potential protocols have yet to be issued in the Cosmos ecosystem?

Author: Sleeping in the Rain, Source: Author Twitter @0xSleepinRain

Let's learn about 4 potential protocols in the Cosmos ecosystem that have not yet issued coins.

1. ZetaChain

ZetaChain is a Layer 1 with built-in cross-chain interoperability, compatible with EVM, and supports users and developers to implement universal smart contracts and message passing between any chains (including non-smart contract chains such as BTC and Doge) .

Developers can use tools Set, build a full-chain DApp based on ZetaChain single point.

Currently there are more than 150 A DApp has joined the ZetaChain ecosystem, and the number of testnet users has exceeded 3 million.

Follow ZetaChain The reason is:

1. LayerZero is about to release Token, and the whole chain narrative is about to rise (and Wormhole is also about to issue tokens);

2. ZetaChain supports the BTC chain, which coincides with the native BTC narrative. In the future, DApps on ZetaChain may all have the ability to support native BTC assets (Sushi announced in November 23 that it would cooperate with ZetaChain to provide native BTC support, allowing Sushi users to exchange native BTC between 30 networks).

3. ZetaChain section Time has officially announced many cooperations, including the SushiSwap mentioned above, as well as Curve, Bounce, etc.

4. The importance of ZetaChain Partner WaaS (Wallet as a Service) provider Magic completed a $52 million round of financing last year, led by Paypal.

ZetaChain has been released The vision and roadmap for the launch of Mainnet 1.0.

In addition, by Binance Labs The leading Ultiverse sub-game Meta Merge has joined the ZetaChain test network for construction. In the future, Ultiverse will also expand its multi-chain interoperability as a metaverse platform through ZetaChain. The progress of cooperation between these two projects is also worthy of attention.

Now, we can Participate in the interaction of ZetaChain test network through OKX Web3 Wallet.

2. Dymension

Dymension is also a member of the modular blockchain, it is a modular settlement layer.

Celestia peels off the DA layer It comes out and is built separately as a modular component to provide DA services for Layer 2. Layer 2 only needs to do the execution work and perform data settlement on Layer 1. The reason why Layer 2 chooses Celestia as the DA layer can essentially be attributed to "higher cost performance" (which means higher profits).

And the launch of Dymension, It is to solve the sense of separation between Layer 2 people. Previously, Layer 2 was deployed with customization, using different multi-signature bridging methods and different security assumptions. Dymension will unify Layer 2 through IBC, formulate standardized processes, and ultimately realize the vision of building a Web3 Internet by RollApps.

Simply put, Dymension What it does is to use the IBC protocol to unify Layer 2 standards and integrate liquidity, use Dymension Hub to protect the liquidity in the network, and publish its transaction data at the DA layer (such as Celestia, Near, the DA layer can be selected independently by RollApps).

Dymension is more interesting It is built around RollApps (a new encryption primitive), and developers building on it only need to polish the product and provide better user services.

In addition, let me mention two more Individual track projects:

- Eclipse is a competing product of Dymension;

- Fuel is a modular execution layer.

3. Saga

If you want to understand Saga simply, you can also understand it as part of the modular ecosystem. Saga's main service form is to help other developers build dedicated chains. These developers can make product design choices based on their own needs.

The Saga team believes that currently The competition among Web3 applications is essentially a competition for block space. Therefore, Saga's vision is to enable developers to build their dedicated Web3 application chains in the easiest way possible.

That is, one click hair chain.

The foundation of Saga in Cosmos Lower the threshold once again. Through Saga, developers can start an EVM chain of their own within 10 minutes. Saga calls it The Unblock movement.

And Saga’s tendency is , to create an interoperable game (metaverse) ecosystem.

From my personal perspective It seems that this tendency fits well with the services provided by Saga. Based on Saga, game developers can focus on game design and have higher flexibility and interoperability.

4. Berachain

BeraChain is a Cosmos Layer1 based on EVM and adopts PoL (Proof of Liquidity) consensus mechanism. Now that BeraChain has been launched on the public test network "Artio", developers and users can participate in Galxe's interactive tasks by receiving water from the faucet.

In terms of design, Adopted a three-token model:

$BERA : Gas Token, 10% inflation;

$BGT : Governance Token, but it is not transferable and can only be obtained by pledging assets;

$HONEY : Over-collateralized stablecoin, protocol Income distribution medium.

After the BeraChain mainnet goes online , allowing users to pledge wBTC, wETH, wstETH, USDC, USDT, DAI and other assets, and obtain the income distribution and BERA of DeFi activities. The pledge income distribution weight of various assets will be completed by BGT governance in the future. In the future, there is a high probability that the BeraChain ecosystem will also see liquidity staking and aggregated governance products similar to Stride and Convex.

As for the airdrop details, official Not announced yet. My personal guess is that in addition to NFT Holder, BeraChain may also airdrop to TIA Staker.

From my perspective See, Berachain built a flywheel as shown in the picture below.

When initially launched, Berachain’s model was very similar to Canto’s, using inflationary tokens to promote TVL increases. However, as the number of users increases and fee income increases, Berachain will take a different path from Canto. Moreover, Berachain's built-in governance game and stable currency will further promote the market demand for its Gas Token BERA.

Finally, let’s summarize what each chain in the Cosmos ecological protocol is doing during this period:

Neutron is recruiting some remnants of the Luna era to develop the AEZ (ATOM Economic Zone) ecology. The Launchpad Eclipse Fi on it is also worthy of attention.

The main line of Osmosis²  is LSD, curbing inflation and merging with Umee (now UX).

Injective  Although ecological Weak, but the main force is strong and the currency price performs very well.

Kujira performed equally well, Kujira staking income is not inflation, it is real income.

THORChain is native In BTC’s cross-chain narrative, there are two other projects with the same concept: Maya Protocol  and CHAINFLIP .

Stride is on Cosmos LSD has a market share of over 90%. There are also new competing products on the market that compete with Stride.

Sei is now on the The narrative of parallel EVM has been sought after by many markets some time ago.

Kava in the new era The currency stopped inflation.

Axelar Network initially rose sharply The reason is Upbit List. Now it is reducing token inflation through governance proposals and is expected to be affected by the launch of tokens by Wormhole and LayerZero in the future.

Canto Public chooses to leave Cosmos , embrace the Polygon ecosystem. Its main narrative is RWA and full-chain stablecoins. Therefore, it will also be affected by the release of LayerZero tokens.

In addition, the market has recently The concept of LRT has been speculated, so the LRT $PICA on Cosmos (recently expanding to Solana) has also received widespread attention, and the price performance is good.