DAY 1 of Cosmoverse Saw the Launch of ATOM 2.0, a Look Into the Future of Cosmos and the State of Crypto in LATAM

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Opening ceremonies 

Comosverse kicked off with an opening speech from organizers Juri Maibaum, Fabian Klauder, Basil Naser, and Cryptocito welcoming attendees and thanking the local community for embracing this web3 ecosystem with open arms. 🤗

Cosmonauts were treated to a rap performance by Ethan Buchman, Cosmos Co-Founder, covering the development of the Cosmos ecosystem. 󰳙

–   Events highlights include  –

Big news from the first day of the conference was the launch of the new Cosmos Whitepaper and Atom 2.0  🚀The paper outlines a new economics model for the Cosmos ecosystem and has been much anticipated by the community.

Co-Founder of Cosmos, Ethan Buchman kicked off the morning with a talk on the 3 phases of Cosmos and what the future holds for the ecosystem. He explained how we’re in a transition from phase 1 which was the initiation phase, into phase 2 of integration, and how through building Tendermint, they’ve developed one of the most decentralized developer communities in the space. They’re focused on bringing more collaboration on the chain, teasing the idea of CoFi (collaborative Finance) which he proposes will usurp DeFi and be the foundation for more sustainable future political economies.

Ethan teased how the state of DAOs and governance on other chains is insufficient, and we “can’t trust other blockchain communities to take care of it”.

He shared how the vision of the Cosmos Whitepaper has been achieved with the launch of IBC, and the next white paper will focus on the Interchain Scheduler, and the Interchain Allocator.

Ethan stated that Cosmos is “not competing with other Blockchains, we’re competing with legacy institutions to preserve values of sovereignty and interoperability to enable greater political and economic expression so that state cooperate together, institutions cooperate with individuals,” and this will lead us all the final 3rd phase – illumination.

Co-Founder of Osmosis, Sunny Aggarwal followed up with a talk on mesh security and the development of interconnected mesh networks in the Cosmos ecosystem. Sunny described this network as the interswapping of security to different chains. He likened this to real-world security networks, namely the NATO alliance pact.

Sunny then discussed Interchain Security V3 as “the idea that Osmosis can have its own validator set… and lend security to the Cosmos Hub”. In essence, “liquidity will be an important basis of how security works in the future”.

Zaki Manian, Co-Founder of Sommelier expressed his bullishness on ATOM by outlining the core values of ATOM. He then discussed the three legs of the new ATOM economic model – the rapid adoption of liquid staking, the allocation model idea, and the redirection of cross-domain MEV into the ATOM.

The significance of this, Zaki conveyed, is that “finally we know what is the right way to redirect the value within the Cosmos ecosystem back to ATOM”.

Dean Tribble, Co-Founder, and CEO of Agoric unpacked why Agoric focuses on hardened Javascript, to open up the number of developers who can contribute to the web3 ecosystem. “To take DeFi, to take DAOs to the next generation, out to the mainstream developers and out to mainstream developed, this is the path we need.”

Carlos Jaramillo, Portfolio Manager at Ruta Ñ explained how the reputation of Medellin has transformed over the past century, going from the industrial crisis in 1974 to drug-related violence in 1985 to a social and economic spark in 2001. This created over 3,000 startups driving a “knowledge-based economy”. Ruta Ñ is looking to improve the Medellin citizen’s quality of life with science, innovation, and technology, specifically through blockchain.

“We are ready to help. We see many opportunities to take advantage of. Blockchain and cryptocurrency are so new, but the financial system is not open to this kind of technology to take care of this kind of money entering the economy,” Jaramillo said.

Angela Ocando, Director of Blockchain Education at Platzi, spoke about how web2 developers can create an impact on the LATAM region through web3. Ocando discussed the importance of building solutions for communities and the people through web3, by first understanding the concept, learning the fundamentals, and then teaching potential users.

“Web3 is more than a technical topic – it’s just an evolution. It’s the new era of the internet. It’s the possibility that we have, to give control to the users,” Ocando said.

Content creators Milstein and MAD Cripto featured on a LATAM panel with Dipa of Lemon

Argentina, Emilio Pardo, Country Manager of Colombia Bitso, and Mireya, Business Operations Specialist LATAM at Binance about the growth of web3 in Latin America.

“We are in a very good stage in Colombia, it is one of the countries with the highest adoption of crypto…a lot of people doing international transfers, people wanting to look for other things. So we want to make crypto useful, it’s not only for the experts we want to democratize crypto,” said Emilio Pardo.

–  ANNOUNCEMENTS AND INDUSTRY DEVELOPMENTS –

The full PR of some of these announcements are attached to this email.

  • P2P Staking, the industry-leading validator, and Lido-incubator is building a permission-less smart-contract platform on Cosmos called Neutron. Expected to launch in Q1 2023, it enables developers to create secure, cross-chain-interoperable DeFi applications with significantly reduced overhead.
  • Komodo, a leader in blockchain interoperability and atomic swap technology, has integrated Cosmos on AtomicDEX to provide a permissionless and secure solution for trading between Cosmos and other blockchain ecosystems.
  • Persistence, a Tendermint-based specialized Layer-1, announced the launch of stkATOM and Interchain DEX on the Persistence Core-1 chain in October. Earlier this month, Persistence added Cosmwasm to the Core-1 chain and now is advancing aggressively on building an ecosystem around liquid-staked assets.