Recapping Cosmoverse

The major hurdles for the Cosmos have been a lack of distribution, a lack of liquidity, a lack of a native stablecoin, poor cross-chain UX, and a killer application. This year, we saw builders from across the ecosystem showcase real solutions that put these issues to rest. With the ICF in a solid funding position, an increase in Cosmoverse attendance (predominantly by new developers), and the notable lack of institutional capital allocators, the Cosmos ecosystem could catch many off guard if an application like dydx v4 proves out the appchain thesis leveraging the Cosmos SDK or if it can bring in net new liquidity from Ethereum and Bitcoin.

Additionally, the focus on the Cosmos Hub and strengthening ATOM alignment is a positive for the ecosystem. Although an analysis on a potential acquisition of Stride still needs to be done, with the community currently discussing next steps in the forums, it was an exciting development that could bring renewed attention to ATOM and lead to needed liquidity and network effects.

The information contained in this report and by Blockworks Inc. and related affiliates is for general informational purposes only and is not intended to provide legal, financial, or investment advice. The report should not be construed as an offer or solicitation to buy or sell any security or financial instrument and does not represent any recommendation or endorsement of any investment or financial product or service. Blockworks Inc. and related affiliates are not registered as a securities broker-dealer or an investment advisor in any jurisdiction or country. Blockworks, Inc. Research analysts may hold assets mentioned in this report, further outlined in the Firm’s Financial Disclosures. Blockworks Research is one of the grant recipients from the ATOM Accelerator DAO to focus on revamping the Cosmos Hub’s tokenomics.