Cosmos Cantina

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This edition of Cantina is brought to you by the Jackal Protocol - actually decentralized data storage built right here in the Comsos Interchain! Jackal hopes to decentralize the storage industry with better security and privacy for your files.

GM. Welcome to the third week of the Cosmos Cantina. Never a dull week in Cosmos and this one is electric.

Here is what we are serving up from last week in the Cosmos ecosystem.

• TFM launches an Aggregated Limit Order Book 📈📉

• Quasar token launch gets the down bad double whammy 😳

• Archway airdrop goes live 🟠

• Japanese stablecoins are coming to Noble 💴

• Jackal uses string compression to lower gas fees ⛽️

• Kujira TVL is more than Sui, but they are worth 5x less? 🤨

• Sunflower validator with a diabolical rug pull 😧

• Reece FUDs the interchain on vacation 🏖

• Ethan defends our honour against the eth maxis 🤺

• All in Bits drops the Lawsuit 👨‍⚖️

TFM launches an Aggregated Limit Order Book 📈📉

Attention, cosmonauts! Your weekly interstellar update is here and we're kicking off with TFM's latest stellar development. They've gone and launched an Aggregated Limit Order Book. That's right, our friends at TFM have been as busy as beavers in zero gravity, consistently churning out everything from sleek interfaces for IBC and NFTs to a fully-fledged interchain order book. Nothing better than a team that delivers in the Cosmos getting major kudos from many teams, including the peeps at Osmosis.

Here is a live look at me using TFM Sunday morning at 6 AM.

Quasar token launch gets the down bad double whammy 😳

Quasar's token launch got the cosmic equivalent of a one-two punch. They took a ride on Stream Swap, a shiny new token launchpad in the Cosmos Ecosystem that uses time-based swap mechanics for price discovery. However, it seems like Quasar's price discovery tour had a less-than-stellar landing.

Cosmos community member, Le Thang, has pointed out that the QSR tokens are selling at bargain-bin prices. Despite a private sale average of $0.054 per QSR token, tokens were going for roughly half that for most of the stream. They saw a small pump towards the end, but it seems the post-launch trend has them hurtling back towards the 2 cent mark on Osmosis.

And then came the impermanent loss in their stream swap vaults, all thanks to a blunder from the Numia Data team pointed out by Iuisqa. It’s rough, but hey, every Cosmos launch is a trial by fire, and we have faith that the Quasar team can bounce back from this space turbulence.

The based founder of Quasar, Valeyo took to twitter to share a feeling we all know too well.

Archway airdrop goes live 🟠

Let's chat about the Archway airdrop 🟠. This celestial event went down a treat, showering the interchain with free tokens. What really got tongues wagging across the interchain, though, was the slick user experience and a handful of apps that were ready to launch from day one!

The stats speak for themselves: 217k transactions, 1030 blocks with more than 50 transactions, and 16 blocks with more than 100 transactions – all within the first 24 hours post-airdrop. Sure, the high gas fees raised a few interchain eyebrows, but let's not forget - it's all by design. The developers get a cut from the gas transactions, giving them a tasty incentive to continue building awesome stuff.

Nothing gets the Cosmos goin like a good ole airdrop.

Japanese stablecoins are coming to Cosmos 💴

Say konnichiwa to fully collateralized Japanese stablecoins on Cosmos. Thanks to a pioneering partnership between Noble and TOKI Finance, the Cosmos ecosystem is about to get a slice of the sushi roll. This duo is set to churn out a series of fiat-backed Japanese stablecoins, unlocking enticing real-world crypto use cases.

This collaboration sees Noble leveraging its asset issuance infrastructure to issue high-liquidity stablecoins, while adhering to tight regulatory standards. And TOKI? They're the bridge builders, linking Cosmos appchains and EVMs.

With this exciting development, the global footprint of Cosmos just got a whole lot bigger. Buckle up - it's a small world after all.

Jackal uses string compression to lower gas fees ⛽️

Let's take a detour from the finance highway and dive into the world of web3, where gas isn't just something you fill up at the station. In this realm, gas fees are as certain as death and taxes, and boy, can they burn a hole in your virtual wallet. It's all about the input, folks. More input, more cost.

Enter the Jackal Protocol, web3's version of fuel-efficient data storage. They're cutting the gas (fees) with some good old string compression. Picture this - a high-tech, space-saving vacuum bag, but for data. The result? A drop in gas fees by a whopping 90%. Now, that's what we call fuel efficiency!

Jackal is using something called LZ-String to neatly package data into a fraction of its original size. It’s like cramming all of your childhood stuffed animals into one tiny box. The genius part? This data diet doesn't compromise privacy or security.

In the high-octane world of blockchain transactions, Jackal Protocol is showing us that less (gas) really can be more (savings). Keep an eye on this space - we'll be tracking the gas gauge closely.

Kujira TVL is more than Sui, but they are worth 5x less? 🤨

We've got an intriguing under-the-sea story for you. Meet Kujira - the humble giant whose Total Value Locked (TVL) is floating above that of the VC-backed token, Sui, yet its worth is sitting at a mere fifth of its competitor's.

To give you a clearer picture, let's dive into the numbers. Sui, flashing its inflationary token charm, has a market cap of a whopping $500M and a fully diluted valuation (FDV) of a staggering $5B. On the flip side, our friend Kujira is swimming around with a market cap of $90M and an FDV of $100M.

What's the big deal, you ask? Well, the fact that Kujira's TVL surpasses that of Sui, yet its valuation pales in comparison, sends out a clear signal - Kujira appears to be one ridiculously undervalued sea creature, or Sui is ridiculously overvalued.

Sunflower validator with a diabolical rug pull 😧

In the Interchain, not all validators are created equal - and one has been making waves for all the wrong reasons. Let's talk about the "Sunflower" validator. This one decided to ramp up the summer heat by cranking its commission rate up to a sweltering 99%. Yeah, you read that right.

Adding more fuel to the fire, they whipped up a bot to claim rewards/commission every minute for 24 hours. Talk about not beating around the bush! The result? A sweet $3k+ USD was quietly collected while the Cosmos dozed under the sun.

But here's the kicker: not a tweet, Reddit post, or smoke signal was sent out to alert the community about these changes. It was all sunshine and roses until the Cosmos woke up to find their pockets a little lighter.

Then, in a twist as unexpected as a sunflower in December, the validator claimed it was all a big mistake 🤥

We found this inspirational post on Facebook.

Reece FUDs the interchain on vacation 🏖

Vacation blues or market clues? "Interchain" might sound like the nickname for a beach volleyball team, but in the realm of blockchain, it's much more than a fun-in-the-sun moniker. Reece, aka Captain Development of the Juno Network, has lately been feeling a bit sunburnt about the whole Interchain situation after inheriting the responsibility of the Juno blockchain. The Juno bigwig took to social media, sharing his bearish outlook and causing a few waves among Juno's bag holders.

Was it a case of too many piña coladas under the palm trees, or has Reece just reached a state of zen-like market clarity? It's unclear for now, but the buzz has certainly sparked some beachside debate.

One theory? Reece might just be feeling a little salty about Archway - Juno's shiny new competitor - and all the attention it's been soaking up lately. Or maybe his is tired of cleaning up the Juno mess he was handed. Whether it's a case of vacation-envy or genuine market concern, Reece's beach bum blues has left the Interchain community with more questions than answers.

Ethan defends our honour against the eth maxis 🤺

Pull up a chair, folks. It's time for some crypto drama, served hot and fresh. This round features Ethan Buchman, co-founder of Cosmos, stepping into the ring with the Ethereum maxis.

Ethereum has been playing catch-up with Cosmos for a while now (from. a tech perspective), and Buchman isn't pulling any punches. He hit back hard with a tweet that cuts to the heart of the matter.

"Do we know what happened to Cosmos and Polkadot?"

An innocent query from an Eth Maxi, perhaps, but Buchman didn't miss a beat.

His response reads like a play-by-play:

So, next time those Ethereum maximalists asks what happened to Cosmos, just tell them to check the mirror. Chances are they'll find the answer staring right back at them.

All in Bits drops the Lawsuit 🏛

Forgiveness, Lawsuits, and a Web3 Twist

Even in the Interchain, where boundary-pushing ideas reign, the dispute between All in Bits and Grace Yu stands out. With a mix of conventional legal tactics and a rather novel approach to conflict resolution, the Cosmos ecosystem is witnessing a saga that pushes the envelope on how disagreements should be settled.

All in Bits, the firm run by Cosmos Co-Founder Jae Kwon, has found itself embroiled in a legal tangle with former contractor Grace Yu, as well as several other key figures in the community. Interestingly, Kwon's proposed resolution doesn't solely rely on the court of law. Instead, he's leaning on the principles of the Biblical Jubilee, an ancient tradition that speaks to debt forgiveness and fresh starts, proposing a concept named "Project Carmel."

"Project Carmel" is an envisioned conflict resolution protocol aiming to promote fruitful debate and resolution. It seeks to move away from destructive infighting and towards resolving conflicts arising from alleged misleading or false statements.

At the heart of this case is the #FreeDenis campaign. Sparked by a disagreement over the right to fork ignite/cli under a new name due to a contested non-compete clause and Apache 2.0 license, the campaign has grown into a larger dispute over open-source code ethos.

Despite facing serious allegations of "Targeted Disparagement and Disinformation" from All in Bits, Grace Yu, alongside allies like Zaki Manian, Jack Zampolin, and Jacob Gadikian, continues to defend the principles of open-source collaboration and freedom.

Significantly, this dispute led to an unprecedented event: Cosmos Hub (ATOM) token holders used their governance rights to vote in favor of dropping the lawsuit, prompting Kwon's unusual response.

This vote is a powerful demonstration of decentralized governance at work, reinforcing the importance of token holders in shaping the direction of the Cosmos ecosystem. It's a vivid reminder that even in the midst of disputes, the community can voice its opinion and drive change.

As this drama continues to unfold, the real question lingers: Can a balance be struck between upholding open-source principles, acknowledging the role of token holder governance, and finding common ground? One thing's for sure – in the Cosmos, it seems anything is possible.

Cantina tweets of the week.

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