TmTrack hello, how are you?
he just wanted to say hi everyone
Laula, hello. Also, hello, Donovan, how are you?
Hi, good to meet you guys.
Welcome, everyone. Today we will talk about the asteroid protocol and the Cosmos sub description.
We don't want a red phone from Dell Philips.
First, I just want to give a brief introduction because probably not everyone is aware of the inscription,
the Cosmos sub and asteroid protocol, because it's pretty much a new thing,
even if encrypted things age quite fast.
So, basically, January 17, an unexpected asteroid landed on the Cosmos sub.
And actually, unfortunately, I was leaving, so I missed this big event from my own sadness.
But anyway, this asteroid landed on the Cosmos sub instead of an explosion basically brought a lot of transaction.
And I'm pretty sure that some validators on the Cosmos sub were thinking, oh, wow, someone is spamming the app right now.
But actually, this wasn't a spam attack, but it was an inscription.
And specifically, it was the ROID token mint event of the asteroid protocol.
And what this mint was, it was actually an inscription.
And today we will dive specifically into what inscriptions are, what is an asteroid protocol,
and what does it mean for the Cosmos sub.
So, welcome to Red Phone and Donovan.
Feel free to introduce yourself to the community.
Hey, everyone. I'm Red Phone on Twitter.
I'm a huge fan of inscriptions when they came out on Bitcoin.
I just kind of fell in love.
Didn't sleep for a long time when I discovered inscriptions on Bitcoin.
And I've just been passionate about just this new category of technology.
I feel like that came out of nowhere and excited to see what it does in the Cosmos.
For my job, I contribute at Delphi Labs.
And I do a lot of writing and just modeling out where this stuff is going,
or at least making guesses about it.
Red Phone pulled me on inscriptions and meta protocols back in December.
And that's where we kind of decided to get started with this.
But yeah, I also work at Delphi Labs, more specifically, as support.
One of the lead contributors there.
And that's kind of where I've been for the last two years in Cosmos.
Yeah, and I think for me personally, like similar for me, similar to what Rob was saying,
I also woke up to the news and I missed the mint, unfortunately.
But I think it was also like very cool how this just, you know, you guys just launched it.
There was not like a long time of like putting out the plans and everything
and then, you know, building hype around it.
But you just launched it.
And I think the second thing is also like the fact that you guys from Delphi have built this
and chose also the Cosmos hub to build it.
So I think maybe we can start off with a little bit of the origin story.
Like, you know, Redfon just said, we got very excited about descriptions on Bitcoin
when it came out, out of nowhere.
So yeah, you know, what was the whole kind of time before the launch of Asteroid Protocol?
And yeah, how does it all fit together with Delphi, with Astroport?
And yeah, maybe you can talk a little bit about the history here.
Yeah. Can you guys hear me?
Yeah. Yeah, I can hear you.
Sorry. Yeah, I got super like obsessed with Ordinals.
And in the early days when I was playing around with them,
I just ran across this project called Sats Names, which was a way to,
it's kind of like an ENS or a .cosmos address system built on top of Bitcoin using inscriptions.
I thought that was really cool. And I was thinking like, wow,
what they're doing is they've turned Bitcoin into a database.
So once you have a database, you can write anything to it, including fungible tokens.
So I threw out this tweet with an idea of proposing fungible tokens on Bitcoin.
And in that tweet, I nicknamed it ERC20.
And within like three days, another anon called Domo had taken that idea
and formalized it into a spec.
And he launched Ordey, which was the first fungible token on Bitcoin.
And just seeing the success of that token, I didn't meant any of it myself,
which I kind of kicked myself towards at over a billion dollar market cap right now.
Trades on all the major exchanges around the world.
But I was just fascinated by this new category of tokens on Bitcoin.
And we just watched it as inscriptions spread across all other chains.
Like first, I think the first one I saw was on Dogecoin or Litecoin, one of those two.
But now inscriptions are on pretty much any chain,
including chains that support smart contracts like Ethereum and Solana.
And internally, we were watching this.
And around the time that we saw inscriptions pop up on Solana,
we were thinking like, you know, Cosmos is not part of the story.
It should be part of the story.
So we just threw the idea out of doing it ourselves
and launching it ourselves as kind of a fun project.
And if I have to understand the description, like in a very simple manner,
like you mentioned it is basically data that is permanently stored on blockchain.
So some kind of data storage.
But probably from the user experience is very similar to NFTs.
So maybe can you explain what is exactly an inscription
so that it can be easy to understand for everyone?
So I think of inscriptions like Jose actually at Belfast calls them graffiti.
They're like a way of like jamming data into the blockchain,
whether the blockchain wants it or not.
So you could also think of them like a penny when you're spending money
and you have actual physical coins in your hand.
This is especially true on Bitcoin,
but you could imagine like scraping some artwork onto a penny.
Once you've done that, that artwork is forever on that penny.
But you can still spend it like money.
You can transfer it to other wallets.
You can buy stuff with it.
But the artwork always goes with it.
So on ordinals, what you're doing is you're tying data
to a specific denomination of Bitcoin.
We have a little more flexibility on Cosmos.
Basically, you're just creating a transaction.
And when you create that transaction,
you can also write some data to the blockchain with that transaction.
So yeah, maybe Donovan could add some more thoughts there,
but it's kind of just a fun way to sneak data onto the blockchain.
Yeah, I think that what you said is very interesting.
So basically what we are doing is scratching the Cosmos sub
and leave it permanent marks.
If I said it like this, it maybe sounds not super good.
But actually, it's very interesting, the synonymous with graffiti,
because graffiti can also be a beautiful thing.
So basically now everyone has a chance
to leave their mark on the Cosmos sub
through the asteroid protocol, basically.
Yeah, exactly. I love that.
Donovan, can you share also your background in Cosmos
and with asteroid protocol?
I joined Delphi Labs back just before the Terra crash.
That's almost two years ago now.
As a developer on Astraport.
And I think it was still in my probation period
So that was the most exciting, chaotic,
joining a company experience ever.
I initially started on the backend side of things
and worked around, started working on contracts
and then one of the lead contributors to the protocol.
But yeah, since Redfone told me about like,
hey, let's do inscriptions on Cosmos back in December,
I kind of just went all in on that
and started building and experimenting and finding ways
to get more than just like the memo field
as like 512 characters, you can't do much with that.
And we were just digging into the transactions
and figuring out how to put more on chain.
And yeah, then we kind of just built it
and then on the 17th, it was about midnight my time.
We just decided, okay, let's just get this thing out.
Otherwise, we're just gonna keep trying to improve it.
Just let's just launch it.
And then we launched it and watched everything happen.
And I think very few of us even got to mint, mintroids.
But it was a quite an experience.
Yeah, and I think that's also kind of the magic
around how you guys launched it
and just like doing it without a lot of like talk around it,
But yeah, I think one thing also that Redfone mentioned earlier
and that you also said is like,
inscriptions basically turn Bitcoin into a database.
And I think it just opened up a whole new kind of paradigm
for Bitcoin in terms of what's the purpose of it,
And also like philosophically,
I think it's just changing the whole direction.
And I think also in the Bitcoin camp,
I mean, haven't followed it too closely.
But I think there's also this Bitcoin maximalism
that is saying inscriptions are harmful.
It's not really good for Bitcoin.
They're really anti inscriptions.
And then there's a whole other camp that is saying,
this is like Bitcoin needs to do something,
needs to have a proper use case and, you know,
descriptions and BRC 20s are just perfect
because that is also something that drives demand
and also drives culture in Bitcoin,
which I think has been lacking.
And then I saw your thread that you put out
when you launched asteroid.
And I think there's a lot of similarities
between the Cosmos Hub and Bitcoin in that sense, right?
Obviously not comparing the two,
but just philosophically,
I think the Cosmos Hub has always kind of suffered
a little bit from not having that culture
from the community and engagement and initial action.
But I feel like ever since asteroid launched,
it has changed literally overnight.
like maybe you can go deeper on why the Cosmos Hub,
how you view the Cosmos Hub also with kind of like this idea
to like turn it into a database,
what are some of the benefits,
and how do you see that all kind of fitting together
with the rest of the developments in Atom,
or is that something that you're not like really actively
No, no, I think you put it well,
and I think you could just repeat.
No, I was just going to say like,
I agree with everything you're saying, Sito.
I think what we're seeing is like on Bitcoin,
you've got this functionality that you never had before.
So it's dramatically changed Bitcoin's story overnight.
I mean, it's changed Bitcoin's tokenomics.
It's changed the development community,
excitement around the protocol.
It's like altered its destiny,
like I think you could sum that up by saying like,
we're watching Bitcoin modernize itself.
We're watching it kind of incorporate functionality
that wasn't possible before,
but it's possible on other chains.
So it's kind of like you think about Amazon's growth
like it started as a bookseller
and just kept adding new features
and things that its user base wanted over time.
I kind of think that Bitcoin and other blockchains
are going to do the same,
and I agree completely like this.
This is an evolution for Cosmos Hub,
and I think that it has implications everywhere
on the development community,
on the older base for Adam.
It's got implications just for the excitement in the culture,
and I do think that we're witnessing it evolve
We're watching it sort of find new meaning
in a new place in the world,
and I think that's super important
because the Hub is undeniably like the central branding point
It is the world's largest blockchain in Cosmos by market cap,
and if you just mentioned the word Cosmos
to someone that doesn't follow the ecosystem very closely
like Adam and Cosmos are like synonyms.
So just a massive opportunity for branding and evolving
and adding features that people love,
and I think that that's going to change the culture
around Adam dramatically.
Yeah, and if I could just expand and expand on that,
and like Redfern just said,
the Hub was most likely the best place to do it,
and the reasons are it doesn't have contracts.
We know about the proposals that tried to get it in,
and Cosmos isn't coming to the Hub soon,
and this gives it a way to do something similar,
although it's less formal.
You can now go and build on the Hub
without needing the smart contracts as well,
and with the recent reduction
on the inflation and things,
if this becomes sustainable,
all the fees being collected
could make up for the drop in inflation,
the real yield as the people call it,
and I think there's a lot of things
that could drive more activity to the Hub,
like Redfern said as well,
like it is where people enter the Cosmos,
it's where I entered the Cosmos,
it's where a lot of the people I know entered the Cosmos,
and giving them something to do right off the bat,
I think, is really valuable,
and yeah, the Hub was just the place to do it.
I don't see inscriptions being that valuable
or somewhere where you could do the things already,
and that's kind of why we stuck to the Hub.
Yeah, I think that makes sense,
and like I said, when I read about it,
I was not really following too much
the whole inscription BRC20 stuff,
but I learned a lot just from yoga threads,
and obviously then, being a Cosmos guy,
I was forced to learn about inscriptions in general,
and also changed my perspective on Bitcoin in the first place,
and also changing my perspective now on Atom,
that was not something I had seen coming,
but I think it makes a little sense,
the Cosmos Hub as a database kind of evolving into that,
and also just as a source for fees,
and we have actually already seen that fees
just went nuts ever since that went live.
But I think we have a lot of questions also around
like specifics around the Hub,
and like what are your plans moving forward,
and with Astroport, and those kind of things.
I just had one general question,
and I don't know, maybe it's because I'm not as deep,
and maybe that's something that is already,
like there's things in play to like mitigate that,
but I'm just wondering in terms of
kind of explicit forms of content,
like what are your general thoughts around that?
I've heard that's been some sort of concern
in also the Bitcoin community,
and also like just generally this sort of,
you know, we're wasting block space,
like what are your thoughts here,
and maybe you can also like point out some use cases
in general that are reaching just beyond the
or we're launching a meme CFT 20.
Like when you're talking about like the explicit content,
yes, that is definitely something like that we'll probably see,
and we do have flags on our site to flag that content
and we're working on the automated ways to stop that
but we don't unfortunately have control
to stop it from getting onto the chain.
and the 1% of people that do that,
they'll probably continue to do that,
they'll pay the fee and it'll be there.
But at least from our side,
we try to at least not promote it and kind of hide that.
And if you really wanted to go see what that hidden image is,
you could just go and query the chain and get it.
So we're doing something at least as much as we could do.
We're trying to tackle that.
But so far, we haven't seen a lot of it.
So hopefully the Cosmos is cleaner
than the rest of the crypto world,
but we'll see how that goes.
And then onto your second part of like...
If I can add something on what you're about to say,
I think that in the Delphi tweet,
basically that the reason why the inscription
could benefit the Cosmos software beyond the user
and all this possible explosion of CFT-20 tokens.
Basically, one of the point was giving web2 developers
to build apps on top of the Adobe asteroids.
And I think this is very interesting.
Maybe this is probably what you were about to say.
I think just to set the stage a bit,
it's like the inscriptions we're doing
is not just the ones we've seen on Celestia
and all of the other places where we use the little memo field.
We have a way to put the half a megabyte on chain.
And by being able to do that
unlocks a lot more than just tokens.
To me, tokens, they're great, but we can do so much more.
And with the idea of the meta protocols
that Ray also pulled me on in December,
is you can now go and build protocols on top of the hub.
And by protocol, I mean like you could go
and put the Cosmos hub forums on chain.
It would just replace the traditional database
with a Cosmos hub blockchain itself.
And that becomes really interesting
because now you've got everything you do on the hub
It's tied to maybe a PFP that you inscribed.
It's tied to maybe some writings you're doing.
And it's all tied to your wallet
and becomes kind of your Cosmos hub identity in a way.
And like you were just saying about the Web2 developers
is what makes Cosmos easier to transition
is when you're working with the APIs, it's JSON.
It's things that are common in the Web2 world.
And whenever I talk to some of my friends
that's working in the Web2 world, good developers,
but they always come back to me like,
I don't know how to write a contract.
I don't know how to write Rust.
I don't have the time to go and learn all of these things,
but I want to go and build something.
I want to build a mini game.
I just want to play with it.
And having to learn all of those technologies
and trying to change their whole mindset on how this works
So now by making it a kind of an off-chain meta protocol
with your database being the chain itself,
we're making that leap a lot smaller.
They can use their existing skills in Go and TypeScript
in React to go and build a frontend,
build a bit of an indexer for their own little project.
And we already have some tokens,
and we're working on ways to make those tokens usable
in these kinds of situations.
So a lot of the base foundation stuff we're doing,
and I think once people start really experimenting
I think we're going to see some really, really interesting things happen.
Yeah, it's super interesting.
Kriptos, do you want to add something?
Yeah, just maybe a question for Rentphone.
How is the innovation going in Bitcoin?
Because I think you've probably seen it obviously from day one.
Are there any interesting use cases that you see
kind of evolving right now that you think
that might even make more sense on Asteroid
because that custom sub has more benefits
in terms of file size and those kind of things?
Yeah, I think we're just now starting to see
some interesting use cases pop up.
There have been things like metaverse plays
and different ways of identifying valuable or rare satoshis
and building ecosystems around that.
Bitcoin has a lot of unique properties with UTXO.
You could actually inscribe artwork,
or like on a satoshi that was actually mined by satoshi himself.
Or you could inscribe artwork on a sat
that was used in the Bitcoin pizza sale,
which was the first financial transaction with Bitcoin.
So there's lots of cool innovation
around things that are Bitcoin specific.
I think right now they're really trying to figure out
how to take it to the next level with DeFi.
So doing things like AMMs with some of these BRC20s
and other token protocols that are popping up.
So it's almost like we're entering
this smart contracting era for this stuff.
But I think we're actually going to have a lot more room
for experimentation on Cosmos for a couple reasons.
The first is obviously the cost.
I'd say it's at least 10 times more expensive
to do the same thing on Bitcoin
that you could do on Cosmos Hub.
And the speed of the transactions is obviously way faster.
We've got six second block times on Cosmos Hub.
And on Bitcoin, your block times could be anywhere
from one minute to 40 minutes or longer.
Usually the chain is targeting 10 minute blocks,
but they're kind of all over the map.
So Cosmos Hub has a lot more predictability.
It's got a lot more, it's a lot cheaper
and easier to experiment on.
So I think we're going to see lots of really cool things
Yeah, hopefully some of those are like social apps
I think is a great example.
Building out like an Instagram or something
where every upload could be NFTs that people could
meant or purchase things like that,
I think make a ton of sense on Cosmos Hub
because it's actually affordable there.
Yeah, this is actually opens really a new world
of things that you can do with the Cosmos Hub.
And I think it's also kind of funny that you guys
basically skip the Cosmos drama
because you basically did everything,
but there was no governance involved
because the whole launch was permissionless.
So this was also a first, I would say,
around the Cosmos Hub because it's the first time
that someone bring this kind of so far value
because so far direction is quite positive.
Without basically going through governance,
through discussion, that's sometimes
you can also bring a bit of fatigue,
but it's an interesting aspect
because it's a first time probably.
And on this note, because you guys are not going
through all this governance process,
how you actually align with, for example,
the autonomous zone narrative,
there are steps that you guys are doing, for example,
already based on the connection with Neutron
or the atomic zone in general.
Yeah, I mean, I haven't spoken much with anyone at Cosmos.
We're good pals with the Neutron through Astraport.
So we would love to see these tokens end up on Neutron
or kind of any IBC-enabled chain.
But yeah, I think we were expecting a lot more pushback
than we got when we launched.
We were actually nervous about that.
But yeah, the way that the chain is set up, you're right.
It's like on Bitcoin, totally permissionless.
And I think that's part of what's so exciting about it.
Like it's just, it feels fun.
It feels like early cypherpunk days on the internet.
And if you build a system that enables people to use it
in a way that doesn't necessarily match up
with your expectations, it doesn't matter
because the system is going to run the way it was designed.
So if you're following those rules
and you're playing within them, it's free game in my mind.
And I think that creates this huge sandbox for experimenting.
Yeah, I would say that's definitely more aligned
with the proof-of-work mentality.
I can see why you are acknowledging that in this segment
because on the Cosmos Hub,
we have more about proof-of-consensus and governance.
So I can see if some community member
could feel triggered about the whole...
I think it's always interesting when something new happens
because it gives you the possibility
to find a new perspective.
And in this case, I really think that Astra Protocol
is bringing a new perspective on the Cosmos Hub.
And I mean, we will see if it will be a huge benefit
or there will be maybe some aspect that no one will like it.
We can only see it with the protocol evolving
So right now, what are actually the files supported
If a user wants to mint an asset,
what kind of asset they can basically leverage?
You mean like if you go and...
Yeah, if it is feature videos, so this kind of...
Basically, anything that you can imagine.
We have support for playing videos and audio files
and markdown documents and things like that
to be displayed by default.
But of course, a video in 550 kilobytes is a bit small.
But anything that you want to put on there, you can do that.
We don't place any restrictions on it.
I think the Bitcoin white paper is on there.
I think there's a couple of guys that inscribe websites
that you can go and open up.
So there's definitely a wide variety of content.
And I think as people kind of explore a bit more,
we'll start seeing some different things happen there.
But by default, we've got the video, the audio,
the markdown files and things like that
that we just by default play.
And this can be arbitrary content description
or the Cosmos Fungible tokens, which is the CFT20, right?
Yeah, the CFT20 is more a defined protocol.
So the logo for the token can be an image
A couple of animated GIFs that were really cool
But yeah, the token standard is a bit more constrained.
But the inscriptions that you can go and do
You can go and put anything on there.
Yeah, that's pretty cool.
So there is actually a large variety,
but I will say that the only limit is the 500 kiloble.
There are ways to kind of break the content up
into multiple pieces over multiple transactions
and kind of reconstruct it again.
But we haven't really explored that.
I think most people are putting less than half a meg on chain
So coming back to asteroid protocol itself,
do you guys have any upcoming feature you're working on
and I saw that actually the marketplace said
that recently there was actually some interesting dynamics
on how the buy and sell works.
So maybe you can talk a little bit about that.
Yeah, it's not the greatest experience at the moment,
but we are revamping that to make it simpler.
And the reason why we've got this two-step process
is because this is all off-chain.
You could have situations where people buy a token
and then something was already canceled or bought
and they kind of lose their tokens.
So this two-step buying is a way to help prevent that
and kind of protect the buyers
against things like that happening.
But yes, the interface there is a bit tricky,
and we're working on making that a lot better
while still preserving the protections.
And I don't know, Ray, do you probably want to chat
about what's the companies for the marketplace?
Yeah, I mean, I think there's two key things
that we want to do in the short term.
The first is really giving the ability to swap
JPEGs and PFPs like right now.
The marketplace only supports CFT20 tokens.
I'm super excited just to be able to swap JPEGs
and hopefully we'll see some cool collections
launched on the protocol.
And then beyond that, yeah, we're kind of exploring
other options for CFT20 trading.
Like it would be really neat to be able to do
so that we can really like build up liquidity
for these tokens like the way they trade right now
is more like an order book.
And so you're dependent on people going in there
Every time an order is filled,
they have to create another order to sell more,
Just with an AMM, like it's a passive experience
and much better for buyers and sellers.
So we're really kind of exploring some options
to bring like our DeFi expectations from other chains
to asteroids to make this super easy to use.
Yeah, I think there is definitely a lot of innovation
that can happen because the protocol is super young.
So I can totally see that there is some initial work
to be done, especially on the marketplace dynamics
because it's not easy without the dynamics
of inscription works to make the buyer buy at the exit time.
And also if there is any community member
that asks a question, feel free to jump on.
We are 30 minutes in the show.
So now we are open to community questions.
Cryptocedo, do you have any question?
Yeah, I just had a question like generally
about the dynamics between Delphi, Astroport, Neutron.
Yeah, maybe you can talk a little bit about that.
And then also another question about how you view
the path forward for the custom cybernetron.
Yeah, I think so far, like we both contribute
at Delphi Labs and with Astroport
and I think Redfone contributes to Mars as well.
Like we've had a lot of discussions internally
with everyone from labs and kind of they've all been
really supportive of like putting this out
and putting their name on it as well.
So it's kind of, yes, it's a lab project,
but not quite, I guess, as official as a Mars or an S report,
if I could put it that way, but still very supportive.
Kind of we hired a new developer as well
to kind of work on this full time with Redfone.
So a lot of like confidence in taking this further
and exploring this to the maximum from labs aside as well.
So that's been really exciting to see.
It's not every day that you work at a company
or a group of people that just support
like exploring things like this.
And yeah, it's been great.
Redfone, do you want to talk about like
where you see Adam and Cosmo's going?
Yeah, like I'm a huge fan of CosmoSub
just because of the reasons I mentioned earlier,
like it's got all this branding might,
it's got like the mind share.
It's supported by all the big exchanges.
I mean, as far as I know, like Adam is the only token
that I can withdraw directly from Coinbase.
Maybe there's some other SDK tokens,
but it is like it's the nexus for the Cosmos.
And I think having like inscriptions be there,
I think is going to open up like what you can do with it
and hopefully like do exactly what we've seen on Bitcoin
where we see like this whole new developer community spring up
and we see these experiments start to happen.
And my view is that like things are so much cheaper
on CosmoSub, it's so much easier.
I think that what we're going to see is like
the experimentation that would be happening
on ordinals could potentially migrate
to somewhere like the hub.
And it could be, like I said, in a recent thread,
like this Canary network for things that Bitcoin later adopts.
But I think that experimentation makes a lot more sense
on something like CosmoSub.
And I do think also that since we've got IBC obviously,
we've got all these blockchains within the ecosystem.
I think it makes a lot of sense to enable these things
to move across chains really seamlessly.
And in that way, kind of become the de facto inscriptions
protocol for any Cosmos SDK chain in the world.
Like that would kind of be my end goal
or high in the sky type vision.
That's quite a big help for you,
Yeah, I mean, that's kind of a dream.
But yeah, all these things start with a dream.
And we'll see where they go.
Yeah, and actually, one big point of advantage right now
on the CosmoSub is there aren't as much contracts.
So actually, the CosmoSub is able to handle
very well all this additional transaction
because it's actually already a clean blockchain
while compared to, as you mentioned before,
encryption on other blockchain like Solana.
It's a lot more transactional ready for smart contracts.
So actually, the CosmoSub is probably the best
somewhere, not only in the encryption
but in the Cosmos ecosystem,
but also in the POS blockchain space.
Taking aside Bitcoin because Bitcoin is a special case.
It's Bitcoin, so we can't really compare it with anyone.
But for CosmosSub, definitely it's probably a new case
that personally never talked about it,
but I'm now studying it like Cryptosy mentioned before.
It's a learning experience for me
because I wasn't an expert of ordinals
and the inscription on Bitcoin.
Do you guys have any other topic
that you want to add that you're working
on bringing value to the CosmosSub through the inscription?
I think our focus right now is really around
improving the trading experience.
But alongside that, we want to build out a marketplace
for NFTs, we want to explore some AMM type options,
but we also know that we're a tiny skeleton crew,
For this to really succeed,
we need other developers building things on top of this.
We need visionaries kind of launching tokens.
We need artists deploying collections.
So a lot of our efforts are going to be around
just making the onboarding experience really easy,
like trying to improve the GitHub and the docs
and give people real-world examples
of things they could build here.
But yeah, if there are any builders on the call,
Yeah, I want to collaborate in some way.
We're really looking for that
because that's what's going to take this to the next level,
Yes, in the previous call that we had
in the previous Adamud Zone episode,
there was actually the Adamud Accelerator
and there was an interesting for participating
and collaborating with you guys.
So I think that there could be some interesting development.
I'm also, as a community member,
conflicted because the governance wasn't involved,
I will never have that consensus to know,
hey, that's actually because most of the community
had to go full support on the description.
Maybe it could be interesting to see,
I don't know, some sort of seniorly proposal
to see how the Cosmos Subcommittee is committed
to build around description.
Because this could also maybe influence more the builders
in the ecosystem to contribute more.
So that's just a tough that I just said,
maybe I dropped a bomb, I don't know.
But just because that's my mindset
when I think about the Cosmos,
always through the governance.
Yeah, I think one of the great things about the Hub
and like all the drama and things,
there's a lot of really passionate people
and there's a lot of social activity around the Hub.
And I think some things that could really work well
as that we build on top of it
would be exactly that social related things
where you can go and put your thoughts on
and we'll see some camps forming
and like clans of some sort.
And I think there's a lot of interesting things
that could be done there.
But regarding like governance,
I don't think we, it even,
like personally, it never crossed my mind
to go and ask the permission before doing this.
But it would be interesting to hear
like what the broader community kind of thinks of it.
Because I was definitely expecting a lot more
kind of not really, maybe a bit of negativity,
maybe a bit of anger of what we're doing.
But so far it's been like,
I could probably count it on one hand.
A lot of people have just been excited of it,
going back to the Hub and go do something else than voting.
And I think that is exciting to me.
Yeah, I think that there was a lot of fun
and we needed to have some fun.
I would have loved to have this actually
during the bear market because it was very boring.
I mean, probably most of the cosmos
could spend time on targets
and omniflex trading NFTs during the bear market
because it was the most fun things to do during that time.
But now actually we have something very similar
So that's quite kind of interesting.
Cryptos, do you have any last thoughts?
I think I have to re-listen
because during the spaces I lost Redfone on my end.
So I didn't hear his answers, unfortunately.
But yeah, I think to summarize, I'm very excited.
I think this is like Red was saying earlier,
this is kind of a new story that's being written now,
both for Bitcoin and for the cosmos hub.
And I think, yeah, you addressed most of the things
I just feel like people might still be a little bit
kind of unaware that one, this is happening
and two, that what is this?
And what should I do with it?
But I think as more use cases crystallize,
I think there's going to be even more like actual engagement.
I think right now we're just like all playing around with it.
But yeah, so I'm excited to be honest.
You saved the culture on the hub.
Inscribing that culture forever now.
Yeah, and also I saw a couple of tweets
that were starting to analyze the revenue
that this protocol is bringing.
So it's kind of interesting also when it comes
to the sustainability of validators,
how this new player in the game is basically
supporting the cosmos hub.
So that's maybe another aspect that we can evaluate
in a future conversation.
If you guys don't have any other last stop to share,
I think we can start to wrap it up.
Actually, one question as you talk about it,
Red was talking earlier also about how
inscriptions change the tokenomics on Bitcoin.
Don't know when you talked earlier
about how these inflation proposals
are happening on the cosmos hub.
So I'm just curious like in your scenario,
how do you view the atom tokenomics
playing together with inscriptions,
CFT 20s eventually blowing up
even more than they did so far?
What are your thoughts around the atom tokenomics?
Yeah, I think if this becomes a sustainable thing
and generates recurring revenue day in and day out,
then we see a lot of usage.
And I think we're still quite a bit off from that,
even though I've seen some numbers
like $80,000 or something has been generated in fees.
I think we're still off by a lot
to kind of fill the gap from where the inflation was
to where it is now to kind of just
kind of start filling up that kind of gap.
And I think that would help a lot.
It would make a lot of the hubs decisions easier.
On the tokenomics itself,
but we always had it in our mind
that we should make sure that the value
accrues back to the hub, back to the validators,
and that it's worth the bit of extra processing
maybe you have more insights on that one.
Yeah, I mean, from day one,
Donovan is advocated for validators
and compensating them for the extra load
that asteroids are putting on the network.
So we do actually bump up the fee
for these transactions above
what the absolute minimum that's required.
So I think this is just net really good
for validators, really good for stakers.
But yeah, like Donovan says,
we have to hit scale for this
to have meaningful impact.
But I'm obviously like a huge,
well, I'm just a big fan of burning.
Like I would love at some point to introduce like,
maybe instead of sending like a bump in fees
we burn some of that atom or something
to help out atom users everywhere.
But that's obviously just me as a lone individual
who loves burns and things that they're intriguing
for growing value in communities.
But yeah, I think there's just tons of opportunities.
The most important thing though
is making this sustainable
and getting devs building on top of it.
like everything else kind of takes care of itself.
making sure everyone's getting compensated
and keeping the network sustainable.
Thank you for your last talk.
overall in this discussion,
it's very interesting what we have circulated
because actually as Redfone and Donovan,
we're saying this opens to a new world of possibilities
that we are yet to explore
because even for validators itself,
they can do a lot of more things
around the Cosmos sub now
because they can create badges,
they can create activities with their own following.
it is already having a lot of fun with that.
this is happening now on the Cosmos sub.
So even if before it was mostly related
now it's actually on the Cosmos sub itself.
So this is truly a new world of possibilities.
So thank you guys for bringing this new perspective.
And we'll keep following and see how things evolve.
Cryptos, do you also have any last talk?
Thanks a lot for sharing this.
I think this is a very exciting new direction
the hub could potentially be taking
with the database kind of layer
I think whenever something just happens,
The fees are also showing really good results.
Yeah, and it's great that you guys are showing
also a lot of commitment to Atom itself
which is very nice to bring it here in Atom's zone today.
I think that the committee will appreciate
that there is also thinking about the future of Atom
and not only from your protocol view.
So it's more a community view.
So that's definitely very cool to know.
So I want to thank you all for participating today
and also tomorrow Cryptos,
I think they will be also discussing again
the inscription in the Omniflex network Twitter space.
So if you guys want to know more about
probably more NFT related discussion,
probably go check it out there tomorrow.
Yeah, thanks for having us.