1/ W/o further ado, the @cosmos update for @OurNetwork__ that went missing in this wk's issue bc of technical difficulties

a) a modified DeFi equivalents on Cosmos chart
b) smart contracting alternatives in Cosmos
c) rising $ATOM price impacts aggregate network staking rate

2/ Last week, @WilsonWithiam & @RyanWatkins_ called out key Cosmos projects in DeFi.

I added addt'l lower key projects like @irisnetwork @emoney_com @vegapro @microtick_zone @kira_core @ixoworld @OKEx to paint a fuller picture of what else is bubbling up beneath the surface.

3/ These Cosmos equivalents are forming the inner sphere of @paulsalis's DeFi Liquidity Vortex.

Liquidity pools: @irisnetwork @thorchain_org
DEXs & trading: @OKEx @Binance_DEX
Lending/credit markets: @kava_labs @terra_money

...

4/ ...

Collateralized derivs/synthetics: @vegaprotocol @kava_labs
Fund mgmt/DAOs: @AragonProject & technically @CosmosGov

Cosmos is in its 2nd yr of mainnet. This is where its DeFi ecosystem is. Now, what of its smart contracting ecosystem?

5/ SC alts in Cosmos, powered by Tendermint:

- @agoric: ocaps-based JS smart contract framework, Zoe
- @kadena_io: pact SC lang w/ ABCI compat
- @heystraightedge: runs vanilla @CosmWasm VM for permissionless SC
- @SecretNetwork: privacy-preserved SC running on @CosmWasm VM

6/ Lastly, speaking of bull market, w/ $ATOM price rising, thus, opportunity cost of staking growing, aggregate staked rate of the network is decreasing.

Screenshot on the left was taken 3 days ago vs ss on the right, taken today.

7/ On July 19, one of the biggest HODL events was observed. You can see 3.8M $ATOM moved into indiv wallets that day.

9.8M total ATOM were held in user wallets while just 2.2M sat on exchanges.

8/ 3 wks later, a spike in movement of $ATOM out of those wallets is observed. No major factors except price changed in those 3 weeks.

9/ If you bond $ATOM on Cosmos Hub, your rate of return is ~7% + a 21 day lockup time—quite the opportunity cost, esp in the backdrop of a very hot 2ndary mkt, not to mention all the DeFi games happening elsewhere.

10/ Ofc, Cosmos' staking incentives rise as network stakerate falls. If it ever falls below 66.66%, then the protocol will automatically begin to increase rewards asymptotically until it reaches 20%.

More about Cosmos token economics: https://blog.cosmos.network/economics-of-proof-of-stake-bridging-the-economic-system-of-old-into-the-new-age-of-blockchains-3f17824e91db

11/ Question is, will that be enough to counteract the draw of an external market that may drive prices up by 100-200x in the next 6 months? And what could that do to staking incentives of PoS networks?