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 fourth week of the Cosmos Cantina. Let’s get after it.

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

• Cosmoverse keeps selling out 🇹🇷

• Axelar Network partners with Microsoft

• Cosmos inches closer to Metamask integration

• Osmosis upgrades to v16

• Ripple isn’t a security

• Shane gives us the lowdown on software licenses.

• Wash trading on Osmosis? Whodunnit?

• Centauri Bridge is live.

Cosmoverse Conference: Like the Met Gala but Nerdy

The IBC and Cosmos ecosystem sure know how to throw a party! The Cosmoverse conference, the talk of the interchain town, has seen its Earlybird tickets vanish faster than light. If you managed to snag one, give yourself a pat on the back.

But the real star of the show? The new ticketing platform. Not only did it get a sleek makeover, but it also rolled out a multi-wallet integration, bringing convenience to a whole new level. Plus, check out the 3D tickets – who said the interchain can't be stylish?

And let's not forget the cherry on top - you can buy tickets with your $ATOMs.

Big kudos to OmniFlix Network and The DesignDAO for their work on building and designing the platform.

Warning: General Attendance tickets are also selling out fast. So if you're planning on joining this interstellar gathering, better move at warp speed!

Axelar x Microsoft: A New Web3 Frontier Unveiled

When the Axelar (and their new Fortnite branding) meets Microsoft, you know things are about to get exciting. Their newfound alliance promises to propel Web3 integration in mainstream scenarios.

How will this play out? Well, Axelar's cutting-edge blockchain data integration and interoperability solutions will now be accessible to Microsoft customers through the Azure Marketplace, Microsoft's hub for cloud computing infrastructure solutions.

But this partnership isn't stopping at mere integration. These titans are setting their sights on some heady AI and hybrid blockchain initiatives. They're scheming on how to merge private and public blockchains seamlessly and leverage Azure's OpenAI services to forge new, never-seen-before Web3 experiences.

That sounds like a lot of buzzwords, but ill take their word for it.

Sergey, co-founder of Axelar, is pumped: "The shared vision inspired us to partner with Microsoft to provide an extensible interoperability layer for the Azure community, from fast-growing Web3 startups to global enterprises."

With the power of Microsoft and Axelar combined, we're on the edge of a new frontier in Web3, from blockchain-backed Open AI services to integrating AI in future Web3 applications. Interchain peeps, meet your new power couple.

Cosmos inches closer to Metamask integration

Your favourite decentralized universe is inching closer to a significant milestone - Metamask integration. That's right, the folks over at Mystic Labs (aka the architects of Metamask Snap integration for the Cosmos IBC ecosystem) have been dropping some tantalizing teasers on Twitter.

This move will unlock the doors of the Cosmos ecosystem to a legion of Metamask users. If you're not familiar with Metamask, it’s the most popular crypto wallet... like… ever…

The Cosmos Metamask Snap (that's fancy developer talk for a Metamask plugin) isn't just a game-changer. It's more like a universe-expander, opening up new dimensions of interoperability, accessibility, and utility in the Cosmos ecosystem.

Stay tuned, Cosmos fans. If this integration is as celestial as it sounds, the Cosmos is about to get a whole lot more populated.

Osmosis upgrades to v16

Alllright, we just got hit with a tidal wave of upgrades. The curtain rose on the Magnesium upgrade at block height 10517000, making its grand entrance at 16:00 UTC on Thursday, July 13th. Here's a quick peek at what's under the hood:

1. Supercharged Liquidity Module: Wave goodbye to spreading your capital too thin. The new module lets users concentrate their positions around specific token ratios, maximizing capital efficiency.

2. CosmWasm Pool Module: Integration is the name of the game. This new kid on the block brings CosmWasm-backed smart contracts into the liquidity pool fray.

3. ProtoRev Module Upgrade: With hooks replacing message parsing, this upgraded module now triggers ProtoRev across more transaction types. Plus, payment to the development account is now a post-trade feature, not a weekly event.

4. Implementation of Proposal #429: Exit Fee at pool creation? Not on our watch. New pools won't have this feature.

5. Multi-Asset Fee Whitelisting: One governance proposal, multiple whitelisted fee tokens. Bulk addition of fee tokens to Osmosis is now a breeze.

6. Route Splitting Impact Protection: Connect diverse routes with multiple swap messages, reducing price slippage, lowering price impact, and potentially cutting fees.

7. SwapFee to Spread Factors: More than just a name change. This rebranding underlines the spread-like nature of the fee on Osmosis' order books.

The Magnesium upgrade is a big leap forward for Osmosis. With its innovative Concentrated Liquidity, Osmosis promises unmatched efficiency for market makers and traders alike. Buckle up, interchain citizens! Trading in the Cosmos is about to get a lot more exciting.

Ripple isn’t a security.

Ah, nothing like a security Schrödinger's Cat Paradox.

SDNY Judge Torres just declared XRP both a security and... not a security. Hold onto your hats, folks, it's a comedy of errors in the crypto courtrooms.

Let's take a second to untangle this judicial spaghetti. Basically, Judge Torres applied the good ol' Howey Test (yes, the one from 1946, because nothing screams 'modern technology' like post-WWII jurisprudence) to the sales methods of XRP. Her verdict? The institutional sale of XRP by Ripple is a bona fide security. So, if you're a suit-and-tie institution, your XRP is a security, as clear as a Manhattan skyline.

But wait! Plot twist. When it comes to programmatic sales of XRP and sales by Ripple's top brass, Judge Torres slammed the gavel on the SEC's request for summary judgment. That's right. For the average Joe and Jane Public, XRP is as much a security as a rubber duck is a threatening weapon.

It's a ruling that's sharper than a double-edged sword, but the crypto community's got its rose-tinted glasses on. After all, we’re all more interested in the non-security side of the verdict.

Remember, Ripple's been in SEC's hot seat since December 2020, accused of raising a cool $1.3 billion in an "unregistered, ongoing digital asset securities offering." Now, with this latest ruling, Ripple may have a chance to laugh its way out of court.

This is a huge win for crypto in the United States. This bear market has been like riding a rollercoaster that seems to have developed an unhealthy obsession with gravity. Like a phoenix rising from the ashes, or a bear emerging from a long, tiresome winter, we're starting to hear the sweet, sweet sounds of the Cantina Band starting to play. We've been standing on the dance floor, waiting, praying for the music to start, while bears had their wicked way with the market. This might be the beginning of the bull.

It's time to dust off those dancing shoes anon.

Shane gives us the lowdown on software licenses.

We're about to journey through the complex landscape of software licenses with none other than Shane, the Co-Founder of the Stargaze NFT marketplace and eminent CosmWasm developer.

In a tweet-thread that was more gripping than the last season of Game of Thrones, Shane has become the software license Sherpa we never knew we needed. He argues for the use of permissive licenses like MIT or Apache-2. Although, admittedly, the downside is that commercial entities can profit without paying it forward.

Shane reminisces on his early days, contributing to Ruby on Rails under the MIT license. His code was used by Twitter, Airbnb, Shopify, and Github. And his return? "I got exactly $0 for doing it, but helped advance the pace of web2 in a small way."

Spoken like a true knight of the open-source realm.

Yet, for those seeking protection from larger entities, our software savant suggests a GPL license. In the open-source kingdom, GPL is the protective guardian, ensuring contributions and forks remain open source, fostering sharing and collaboration.

But what about when your code is more business than public good? This is where Shane drops some knowledge bombs. He suggests a BSL (Business Software License) with time-based conversion for protocols such as DEXs and NFT marketplaces. Think Uniswap v3, v4, and Stargaze Marketplace.

And so, our trek through the software license landscape concludes. Thanks to Shane, we're all a little wiser and ready to navigate this tricky terrain with more confidence. Happy licensing, folks!

Wash Trading Whodunnit 🕵️

Blockchain sleuth and avid tweeter, Rarma, put on his digital detective hat recently and has been poking around the Osmosis DEX. He's sniffed out some suspicious trading patterns that smell distinctly like... wash trading. Gasp!

So who's been playing fast and loose with the unwritten rules? Is it a villainous individual, a covert syndicate, or someone else? Let's dive into the crime scene:

Rarma found a couple of wallets that are as coordinated as a synchronised swimming team, swapping back and forth at random intervals. The result? Inflated APR on a NON-INCENTIVIZED pool. The audacity!

But wait, there's more. These unsolicited activities aren't just taking place on the Archway blockchain, there's evidence of the same tactics across multiple blockchains. A plot thicker than cold oatmeal, this is.

Rarma, disappointed by these sneaky shenanigans, asks the million-osmo question: "How does any of this benefit the ecosystem?" (Spoiler: it doesn't).

Fellow Twitter user, Octalmage.eth, jumps in to suggest that these shady characters might be luring liquidity to make dumping their airdrop easier. A cunning plan indeed.

Meanwhile, RoboMcGobo points a suspicious finger at the Archway team itself, citing the apparent wash trading as a classic market-making strategy. But would they really stoop so low?

So who's the culprit? The investigation continues. Nothing gets past this community in the long run.

Centauri Bridge is live.

This really is a big deal. The Centauri Bridge is the beginning of the Inter-Blockchain Communication (IBC) Protocol extending its reach into non-Cosmos native blockchains. IBC is kinda like the Marvel Cinematic Universe for blockchains. It’s all interconnected and always wins in the end.

And who gets to enjoy this cosmic connectivity first? Well, the Cosmos Hub, Stride, Stargaze, and Bitfrost Finance are now all linked, making them the inaugural members of this exciting intergalactic network.

Yes, it's an exciting time to be in crypto, folks. As the IBC slithers its way into more and more non-Cosmos native blockchains, we can't wait to see what out-of-this-world developments are on the horizon.

Cantina tweets of the week.

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DISCLAIMER: None of this is financial advice.

This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.