Following the recent hype on Cosmos projects, we would like to invite you to pick your favorite Cosmos appchains tokens to be listed on our exchange!
Below are some of the projects you might find interesting.
- Umee UMEE
Project name: Umee
Ticker: UMEE
Product:
Umee is a project in the cosmos ecosystem trying to solve society’s inaccessibility to the debt market by using a secured decentralized validator. A feature of Umee, UDX, enables anyone with internet access to use Umee’s services regardless of their location and financial history. By using UDX, users have a connection to trusted lenders and investors.
Another feature in Umee, Gravity Bridge, optimizes users’ transfer between the Ethereum and Cosmos blockchains. Using its Tendermint PoS consensus mechanism and having 100 validators to validate bridge transfers between Ethereum and Cosmos, efficiency and security are not a problem. Utilizing Inter-Blockchain Communication (IBC) protocol, Cosmos’ protocol of cross-chain communication, Umee is able to have fast transaction speed without block confirmations and excessive time delays.
Furthermore, Umee was audited by three separate independent entities: PeckShield auditing its ETH smart contracts, Trail of Bits auditing Umee Blockchain, and Halborn auditing its native lending protocol upgrade; ensuring security for every Umee’s users.
Tokenomics:
UMEE holders will be able to vote in their governance decisions as well as earn in Umee’s PoS staking yield as this is their main purpose for the token. UMEE will also be used as a fee to validators when users transfer between Cosmos and ETH blockchain.
Currently, Umee has a total supply of 10,000,000,000 UMEE with a vesting period of 8 years. UMEE is distributed 30% among teams and investors, 65% for community events such as airdrops and event rewards, and another 5% in public sales.
In the future, UMEE governance is able to decide on their deflationary protocols such as UMEE burnings and buybacks by Umee; therefore, holders could enjoy long-term use and development of the token.
VC backings & partners:
Umee has been backed by numerous accredited venture capitals such as Polychain Capital, Coinbase Ventures, Jump Trading, GSR, ALgorand, ConsenSys raising $38.3 million
2. Stride Zone STRD
Product :
Stride Zone is a project truly unique to itself. It is a multi-chain staking platform on the Cosmos blockchain, it aims to become the Lido Finance of Cosmos. What makes this project stand out from the rest of the pack is Stride Zone’s philosophy of keeping things simple. While other DeFi platforms are keen to decorate their sites with various additional features, Stride Zone opts to stick to the one thing that they do the best; liquid staking. Its design is very minimalistic, the team even promised that there will be no DEX or a money market or anything at all besides its liquid staking feature. This allows them to focus their resources on one single utility, whereas users will get to enjoy a seamless user experience.
Users can stake their ATOM (or STARS/JUNO/OSMO) tokens to the platform and receive ST (synthetic) tokens with a value proportional to their ATOM stakes. These ST tokens can then be re-invested across 15 different appchains on the Cosmos ecosystem. Current appchains available to invest in include Imperator, Cosmostation, Everstake, Staking Facilities, and many more. In short, users can profit from both the ATOM staking which currency yields about 16% in APR, while still utilizing their capital to earn even more yield.
Stride Zone has also been audited by CertiK.
Tokenomics:
STRD token will be both the governance and rewards token of the Stride Zone protocol. STRD holders will get to enjoy yields derived from the liquid staking fees from the platform, other than that, they will have voting rights over the protocol, such as “deciding which validators to stake liquid staked tokens with, how to weight said validators, how to distribute ST incentives, how to spend community pool funds, what additional features should be designed for the protocol, and so on.”
As for the supply side, STRD tokens have a limited supply of 100,000,000 STRD tokens from the start. There will be a vesting period for the insiders including early contributors and team members for over 2 years. 40% of the tokens will be allocated to the insiders, whereas the rest 60% will be distributed to the community via various channels.
VC backings & partners:
Stride Zone is backed by several prominent names including Pantera Capital, Cerulean Ventures, 1Confirmation, North Island Ventures, Distributed Global, Node, Road and Picus.
The total funding amount is said to be US$6.7M from its last seed funding round on June 23, 2022.
3. Bytom BTM
Product:
Bytom is a cryptocurrency that takes a distinct triple-layer methodology to blockchain distributed Technology. Its model consists of 3 layers: the data transaction and transport layer, the contract layer, and the entity interaction layer. This unique feature allows Bytom to stand out among other blockchain technology and has the potential to make an impact on the cryptocurrency market with its low transaction fees, high-tech Bytom blockchain technology, and an interactive protocol of multiple-byte assets. This allows users to have an improved blockchain experience and open the door for multiple utilities in this platform
Its token model utilizes a Mainchain and a sidechain, in which the mainchain implements a Proof-of -work model and the sidechain implements a Proof-of-stake model this allows the mainchain to produce 80 million BTM to the mainchain miners and 10 million BTM to the sidechain nodes annually. However, future plans for the product are more deflationary, thus allowing the users to have more appreciation of the token’s value. The token has several utilization which include voting governance, Nodes election, Mining participation, and purchase of basic services such as oracle on the Bytom chain.
Tokenomics:
BTM token is used for trading activities in the blockchain such as asset management fees and asset transaction fees.In addition, Users are rewarded with BTM tokens when they process Proof-of-work transactions on the network.Liquidity providers who move their digital assets are also rewarded with BTM tokens.
In relation to the supply of the tokens, currently there is a maximum supply of 2.1 billion BTM tokens and 1.76 billion BTM tokens in circulation which corresponds to 82% of the maximum supply.
VC backings & partners:
Bytom had several funding mainly through its seed round. Several Venture capital include names like LD capital, Oneboat capital and Hash capital. The total funding amount is $1.46 M
4. Agoric BLD
Product:
The last project for today, Agoric, unlike most DeFi focused Cosmos projects, focuses more on providing infrastructure on the Cosmos ecosystem. Like most other appchains, it is built using the Cosmos SDK and is secured with a Proof-of-Stake consensus mechanism.
However, Agoric proposes a truly unique proposition, it enables developers to build decentralized applications using JavaScript, a web2 native programming language. There are countless apps built with JavaScript at present, making Agoric’s tech an excellent innovation, as it will pave the way for a mass migration of developers into web3. In addition, Agoric also has built in DeFi building blocks that allows it to support a second local currency to create a healthy economic system.
The current Agoric protocol is made up of three main components which are Endo, Digital Assets, and Zoe, all of which are built on top of the Tendermint consensus engine.
Endo — Hardened JavaScript framework, allows for the smart contract platforms to deliver secure distributed computing.
DigitalAssets -layer for both fungible and non-fungible tokens. This is where IST, the protocol’s on-chain dollar backed stablecoin, and BLD, the governance and staking token, work together to create a stable and sound economic foundation.
Zoe — smart contract layer and is a security framework that supportsdApps soon to be built on the appchain. Zoe can be used to run code on the chain, mint new digital assets, and trade assets.
Agoric’s one of a kind stance, using a web2 native language, and built on the Cosmos ecosystem, makes it one to watch for.
Tokenomics:
BLD will be the governance and staking token of Agoric. The community could be a part of on-going evolution of the Agoric chain by participating in on-chain governance. As a staking token it is also used to secure the network’s chain. BLD has a total supply of 1 billion tokens, which will make it deflationary over time, although it will initially begin as inflationary.
VC backings & partners:
Agoric has accumulated over US$36M over 4 private funding rounds, and raised another US$52M via public IDO. The round lead for Agoric’s seed round is Gumi Cryptos Capital. Twitter influencer and angel investor Naval Ravikant also invested in the project.
So, what do you think? Which is your favorite token? Are there any other Cosmos projects that you’re interested in? Feel free to drop a comment!
