ON–143: Cosmos (Part 2)
Coverage on Evemos and Osmosis.
Oct 21, 2022
- The Evmos community is kickstarting a DeFi ecosystem using the large community treasury, currently worth over $200m. A few incentive proposals recently passed, using $4.4m. After these community proposals passed 2 days ago, TVL in Evmos DeFi is up over 100%.
- It’s crucial for the community to incentivize liquidity on alternative markets. A proposal that continues incentives (active since July) for the EVMOS/OSMO pool on Osmosis just passed; TVL has climbed since the first round of incentives ($10m peak), and it’s the most popular superfluid LP destination.
- Osmosis has seen a recent uptick in development, general community onboarding, and the rise of superfluid TVL. The “Tall App” thesis suggests that apps should have vertical integration of a product suite and relationships with other applications. While the team focuses on the “core” of Osmosis, they will outsource development of Osmosis’s application suite to dozens of other development teams. Since the previous Osmosis issue, 58 teams (and more) have joined the ecosystem.
- Of all IBC-enabled chains, Osmosis has the most messages - the primarily use of the underlying DEX - with IBC deposits following after, and lastly <10% of messages were staking related. Osmosis is leading the interchain ecosystem in available liquidity and has most active governance.
- Since the launch of Superfluid Staking in February, the economic security of Osmosis has grown relative to the profitability of an attack over time. Staked OSMO has also consistently risen alongside token inflation, a healthy sign of sticky delegators and superfluid LPs.
