Everyone, see the running two minutes late, but we can start because the either is already here. Today topics is right zone passing the proposal 794, which is the first signalling proposal
of the first slide to start the onboarding phase for the security and the atomic economy zone. To start the well-commeded, it's nice to see you for the first time here in the atom zone, and cool to see the committee have strong support for the first slide.
Hey Rob, yeah I'm glad to be here. I'm excited to be on the housing, this is my first time joining. Can you do a first brief introduction about yourself for any cosmology that you still don't know you?
Yeah, of course. So hi, I'm Aidan. I'm one of the co-founders of stride. We do a liquid saking for cosmos. So today's stride supports Adam,
Osmo, Juno, Ava, Saluna, Injective, and Stars. And S.T. Oomee is going to launch in a couple days. So, soon straddle will have eight liquid-sake intercoms in the cosmos.
And yeah, that's that's a super brief and true. I'm happy to have it talk more, but that's the 15 second version. Yeah, it's pretty good because after all, the thread is very minimalistic. So as you said, it's quite easy.
to introduce it. Maybe it's also over this why the community actually has been so strong in favor because it's easy to understand the value that the stride is bringing to Cosmos sub.
And on that congrats for the proposal passing, I think that I was super impressed to see that 100% yes, why the proposal was a mod in period, it's quite rare.
Yeah, I think in the end it was a little bit lower. I think the final status was 96.5% yes. And then there were a couple of nose like 0.1% and then about three and a half
percent of sand. My guess is some validators might have sand due to lack of clarity with exactly how validators are going to be compensated. But it's hard to speculate. Anyway, overwhelming, overwhelming yes.
which was really amazing, amazing to see from the Cosmos Hub community. And yeah, I mean, it's great. It feels really good. And as a contributor to Strider, I also feel very welcome to the Cosmos Hub and Out of Mechanics Zone, which is a nice feeling.
Yeah, it's finally starting and I'm sure that you were watching the neutron launch very closely because after all the way neutron were launching was
very very important was right also to see how the value of the coordination happened. So in the meantime also, Grypto, please just join us. So hey, Sito. Hello, hello.
Yeah, sorry, I missed the first two minutes, which was another call. But yeah, I'm pumped for first try and the atomic-economic zone coming together.
Yeah, we were touching the point about the neutral launch. So how do you feel about seeing the successful neutral launch? Are you more confident now to join the Atom Economic Zone?
so much and then when you go to Maynut there's always things that happen that you don't encounter in Testnet. I think Neutron ran through like 10 to 15 Testnets themselves so it's not like they didn't test things like they did extremely extensive testing. I think much more than most other chains too but they still had a couple of issues that they
they ran into during launch. So there's just always things that you're going to hit and may not that you won't be able to catch and test not. So the fact that neutron went went through into these, we really appreciate. So yeah, big big shout out to neutron. I will say though, like the overall launch, I think was was fairly
smooth all things considered. I mean it's like a really cutting edge piece of blockchain tech. I don't think anyone has done something quite similar to this. And the chain did get launched in like the span of a few hours. I heard there was a kind of an exciting war room going on. There were like tenor men and
engineers, there are people from the real-air teams, there are people from Informal there, and everyone collaborated behind this unifying goal, which personally I love to see in Cosmos, when everyone is just aligned and building, and then they got the thing launched, which was awesome.
Cool and as you said there was also some last minute issue but that's the beautiful part of being a pioneer and in some way I mean also stride will be a pioneer because it will be the first chain to migrate to reberget the security so
It will be at the same time, first time. So maybe can you tell us a little bit about how it will actually happen, all this migration, what are the challenges and how the process will basically happen in the next weeks?
Yeah, definitely. So for stride, the process is a bit different than for neutron because stride is already a live chain. So one thing, for example, that stride has less flexibility with is they really can't be much downtime. So for neutron, for example, if like they had their launch planned and then the
that needs to happen. It only happens if the stride chain is live. But then there's like technical reasons as well. So if stride were to go down for a couple weeks, then like clients, the IBC like clients on other chains would start going stale. And then suddenly, like we need upgrades on stride and upgrades on these other chains. So for stride, it really
So there's a bit of a difference there. And technically, like the difference of what's happening is whereas neutron sort of didn't exist and then it was like born came into being with the cosmos of Validator set. Stride already has a validator set. And it's a bit like the
Ethereum merge in a way, or this is the fun analogy we use, because the consensus engine is being completely swapped out for stride. So it's almost like the plan is flying, and while the plan is flying, we can't really touch down or land, we need to like, in the air swap out this engine and make sure that
everything just kind of keeps running smoothly. So there's a lot of work that's gone into that over the past six to nine months, both from the stride core team as well as the informal systems team and a bunch of other Cosmos teams as well like, no,ional and some others. So a lot of people have worked on this.
Yeah, that's that's that's sort of the high level of how it's going to happen. Also happy to go into the props. There's like a long process that we still need to do. Yeah, I think this also serves as a perfect blue
for other chains to potentially migrate. So I wonder how is that being like, did you get a lot of requests and inbound from other teams existing at once that were like, hey, this is interesting. We want to also explore that or
Yeah, I've heard of a few. I don't know if they're public, so I'll keep them to myself for now, but there's definitely other teams that are thinking about this. And to your point, it's like a great blueprint. Like Neutron did the first blueprint of like
And here's how you launch from zero to one, like no chain to an ICS chain. And we're doing this other blueprint of like, how do you go from a live chain to an ICS chain? Because to your point, I think like there's probably going to be lots of demand for other other chains and
Cosmos to join ICS, especially in this first period. Like maybe in the future if lots of chains join, they'll just launch on ICS, they won't even start with the sovereign chain. But now we have like 50 chains in Cosmos. So my guess is there's going to be more that are going to want to join ICS.
Yeah, and I think it will be very important for side to be the first so everyone will probably copy you because you will take the first step for them.
kind of track all the development out the process should be done. So it would be very important I think because every time that there is this kind of first attempt it's important to track all the details
everything that happens. So we can build a more structured process to onboard the consumer chain in the future. And I think that's it to add a question. So if you want to take it,
Did you have a question, CTO? Sorry, I was mid. Yeah, no, I think, yeah, like, like, I was saying that that's the perfect. I think I couldn't think of a better set of chains to launch setting this blueprint. But yeah, maybe can you talk more in depth
about the proposals, especially the one that just passed on the customer's side. What it actually means, and maybe also for those that are new, maybe it just provide a high level overview and what it contains and what the plans are like right now.
Yeah, so the proposals that have passed so far have been Prop 794 on the Cosmos Hub, which was a signaling proposal to add stride to interchange security in the Adam Economic Zone. And there has also been a proposal on the stride side that passed where
the stride staker signal that they want to switch to ICS. So so far what we have is two signaling proposals one on the cosmos hub and one on stride that signals that both chains are interested in in stride joining ICS in the out of economic zone. But none of the like technical or code related
proposals have gone live yet. So those will be coming next. In terms of what was actually in the stride side proposal, the same as the Cosmos upside. So both chains are sort of agreeing to the same terms. And in particular, the... So...
I guess I'll talk about the high level of what the spirit of the proposal was and then maybe I can get into some of the details of what is actually going to change for stride in the Cosmos hub. So at a high level stride signals and the Cosmos hub signal for stride to join the atom economic zone and adopt
and the reason it is phrased like that is I think there's really two sides to ICS. So one is economic security, but the other is economic alignment. And economic security has been talked about quite a bit, and this is like, especially in blog posts from Informal,
There's been lots of analysis on pretty rigorous analysis on how ICS boosts the economic security of a chain. So when stride joins interchain security, the economic security of stride will go from something like, I don't know, in the ballpark of the tens of millions of dollars up to
$2 or $3 billion of economic security. So it's like a massive 100X economic security improvement for stride. So that's sort of like the reason that I think we've talked about quite a bit and it's like been a core selling point of ICS. But the other part of ICS, which
I think might even be more interesting is the Adam economic zone. And the idea here is that if Cosmos hub shares security with chains that join the Adam economic zone and those chains in the Adam economic, Adam economic zone provide services for the Cosmos hub as well as other chains in the
economic zone. All these chains can work together to create a really vibrant ecosystem around the cosmos hub. So in particular, one thing that is really critical for liquid-saking tokens, ST-autom, is deep liquidity in
Dex pools. So for example, you need like ST out them on one side and Adam on the other. And if you have this, then like lending markets can be built on top of these pools. And you can have people that sell out of ST out them into Adam. So there's all these all these great things you can do. But this liquidity is very expensive. So strides subsidizes it today through liquidity.
mining program. But this is fundamentally unsustainable. And down the line, this will run out. And you see this today with more mature chains. Lido and Osmosis are reducing their incentive programs because they do run out. So what Stradd proposed to the Cosmos hub is to get
450,000 out of from the community pool to LP as the atom atom on a support on neutron. So tying this back to the economic alignment point. Neutron and a support which is a Dex lunch gun neutron now have a base of liquid second tokens and you can build all kinds of interesting defy applications on top of
this. This is like an example of ICS chains helping each other out. This also, I think, drives more demand for the Adam token. Like people, you can do more interesting things with Adam and S.D. Adam now because there's this DeFi ecosystem and there's this smart contracting sandbox on Neutron. So the hub benefits as well and then stride
it's more usage, so stride benefits as well. Sort of like everyone wins in the Adam economic zone in this scenario. All the hub has to do is provide 450,000 out of liquidity to this pool, which is about five weeks of community pool tax revenue.
The hub of course still owns this liquidity so it can withdraw it if stride for example, it leaves the out of economic zone or if it's not not seeing much use out of those out of them. But yeah, I think out of these two things like security and economic alignment, these are the two most important things in the proposal.
Yeah, and I think that this one can also be seen like the first kind of collaboration that the atom economics on can have because in the end this is the first proposal that actually include a dynamics that kind of resembles
this sort of economic zone where chains can make alignments and this kind of collaboration. I was also actually impressed to see that the community was for the first time very positive on us on a almost suspending proposal because this
was a signal in proposal, so there will be a follow-up that will be the actual spending of this 450 K atom. I think there will be the spending proposal and the onboarding proposal, right, as the next step in terms of governance.
Yeah, so on the stride side stride, it needs to upgrade to SDK 47. I think it might be the first chain to upgrade to SDK 47, so that'll also be interesting. And then after that stride will add the interchange security consumer code. And then stride will be ready to go. We just need to set a block out.
and then on the Cosmos hub side there are two proposals that need to happen. So one is the community spend proposal. Although community spend is like a little bit of a misnomer because really the Cosmos hub still owns its atom. It's not spending them. It's like maybe lending them is a better analogy and the other proposal that needs to happen on the hub is
is the executable ICS proposal. So this is the same, a similar proposal type to what Neutron used and, you know, like a launch block height Oli Chosen for Striding. Do you have a rough estimate when that's going to happen?
Yeah. So we tend to be very optimistic with launch timelines internally. Like we have this joke of where we'll like say something's going to take like two hours and then we end up spending all night on it. But I think sometime in the next three to six weeks is pretty realistic.
Just to give a little bit of insight into what's being tested behind the scenes. There is so the the ICS code contributors across notional and informal and stride are Pretty close to analyzing an ICS version that'll work for sure
We have something that's like 95% on but just needs a couple more tweaks. We've already tested everything locally on our local test notes. We've like watched the consumer or the sovereign to consumer change change over happened locally. So after this we
We just need to make sure that we have the final code commit. We need to run through some test tests and then we need to draft and put up all the proposals. So the very earliest probably three weeks and then hopefully the latest maybe six weeks. So some time in mid June would be June 19.
Actually, 19th is my birthday and I think that's also the launch of osmosis. So I think June 19th would be a nice day. Please, please, please plan. Please celebrate to a birthday. But also another thing, I think we haven't touched upon. Maybe you covered it before I joined.
the kind of incentive share or revenue share. I think the stride token itself has a very interesting accrual mechanism. I think a lot of it also thanks to Prop 8 on stride, but also to be
basically compensate or incentivize validators and delegators on the customer's hub. The stride proposed 15% I think it is to go to the customer's sub community, right? 15% of all the revenue of MIV and also of the emissions of strides.
Maybe you can walk us through how that works. Some of your assessments, when you're working on these numbers, how did you get to these numbers and what's your realistic thesis, how that will accrue and incentivize customer sub-validators and delegators in the next years?
Yeah, yeah, that's a good question. So one, I'll maybe explain on pack one thing you said and then jump into the feast. So the way that the stride protocol earns revenue is it takes a 10% cut of staking rewards for all tokens deposited.
So if you deposit one atom on stride, if by the end of the year that atom becomes 1.2 atom, stride would take 10% of that. So it actually becomes 1.18 atom instead of 1.2 atom. There's also some auto compounding going on behind the scenes.
sometimes like above a 30% yield the fee is actually canceled out by the auto compounding but sort of a minor detail. Anyway, stride earns revenue from all these saking rewards in all the different tokens that it supports. So Adam Osmo Juno
of most Luna etc. and of these staking rewards and strd inflationary staking rewards and transaction fees and mev of all of these categories 15% will be distributed back to the cosmos up.
I don't think there's a lot of precedent for choosing exactly how much of the staking rewards or more generally, I don't think there's a lot of precedent for how consumer chains will compensate the Cosmos have validators for the service of
running the binaries of the consumer chain because there is a cost like every Cosmos hub validator now needs to run three validators or three binaries. They need to run one for Cosmos hub, one for Neutron, one for Stride. So there is like a fixed cost associated with that.
And I think each chain just kind of has to make an attractive offer that the validator set accepts. We did some projections and the the cosmos hub validator set overall should break even relatively quickly depending on the
There's some variables here, like the Adam token price, the stride token price, strides to VL, transactions on stride, MEV on stride, all these things. But I think the proposal is pretty attractive for Cosmos subvalidators.
But it is, it's definitely a little bit more of an art science at this point. I will say we got some pushback from both the stride side and the Cosmos upside. Stride said it was too high, Cosmos upside it was too low. So it makes me think maybe 15% is actually just about right. Do you have any projection?
based on the current revenue that's right generates and inflationary rewards, how much would they translate into APR for alternative stickers? Yeah, I don't have any off-hand, but one way to
think about Strider Avenue is it's about 2 to 3% of TBL per year. So if Strider has 100 million dollars of TBL, that would be about 2 to 3 million dollars of staking reward TBL, so call it like 2.5 and 15% of that is 375K.
And then try to have a billion dollars of TVL that's $3.75 million that goes back to the Cosmos Hub. So those are a couple of little bit of napkin math. And then that's just one of the categories. There's also MEV, S-T-R-D, inflationary, and staking your words and transaction fees as well.
Is there also a chance because I think this is not obviously the very first time this happens? So is there also the chance to say, hey, after six months, maybe the projections were added to our wishes or to a low that those numbers could be adjusted?
I think it is possible, but I don't think it sets a great precedent. They could be adjusted in either way. So, you know, like if we just think about like the validator cost as a
commodity, then suddenly he tries to have $1 billion of TVL and sending millions and millions of dollars to the Cosmos hub per year. Then that would be an argument to adjust it down. On the other hand, if an ICS train is struggling, it's not generating much revenue or transaction fees or anything like that.
this, then you might want to adjust it up. But I think these are like pretty tricky negotiation questions that would need to happen between the two chants. And personally, so I haven't thought about this case very much, but I'm not sure it's a great precedent because on the one hand, it undermines the confidence
of the Cosmos hub for how much revenue they're going to make from ICS trains going forward. Like it's a little bit of a bat. It's saying like, you know, we'll front some of this cost so that later we'll earn these higher rewards. And then on the other hand for ICS trains joining, it's a bit of a gamble for them too, where like if
I think honestly we have to wait and see how it plays out right and also how
how it gains traction and whether validators can sustain like that. But yeah, I think right now I'm neutral. I'm also more on your side. I think also to just have a clear, possible word make sense.
But I think another very frequent question that you guys get, at least I'm getting it whenever I talk about stride and demigration, is what happens to existing stride validators, right? Because there's also a lot of validators. Actually, I don't know how many precisely, but there's a couple of validators on the stride.
right now, they are not costants or validators. So they turn basically into governance and the stride chain. Can you maybe explain what that exactly means? Do they still have to run any sort of infrastructure and what's their role and incentive?
Yeah, that's a good question. And this actually came quite a bit. One last point before we move on to this governor topic, there is a soft opt out, which basically means the bottom x% of voting power on the Cosmos hub can opt out of running a binary.
And this actually, this makes the economics look much, much better for the Cosmosov validator set. So I don't have those numbers in front of me either, but I think Neutron picked something like 5 or 10% for the soft opt out. Stride has a 5% soft opt out. So this actually
It removes something like 60 or 70 validators from the set and it only sacrifices 5% of voting power. So there's a little bit less of a strong live-ness guarantee. I see Jay Hans up here. Jay Hans, you might have more details on this all up to. That sounds pretty much correct. I think you can keep going, I guess.
So they would still earn rewards right they just don't have to run the infrastructure. Yep, that's exactly right. They're still still rewards. They don't have to run the infrastructure and then maybe in the long run like either the chains become more successful. So ICS actually becomes very profitable for all validators or maybe the cost of
notes goes down or maybe this just like remains with with the soft op-dop I think it's a little bit unclear but to solve like the immediate pain point I think this this op-dop that's a pretty elegant solution sorry see I lost my trance on that tangent what
Was your last question? I actually just had something interesting that could raise another interesting question because one of the most common questions that we got in the community when we announced the episode was what we were looking to decide to and
You basically just said that the validator said will become governments will keep earning the rewards. So can you maybe share to the community how actually the stride token will evolve once the Replicate Security is implemented like what will be the
value cruel for the strike token, what kind of reward will still be there? How replicate security can actually instead improve, instead of people being afraid that the strike token will lose value? I think there will be actually a opportunity to experiment and create more value.
Yeah, so first on the question of the governors and what that means. Basically, what happens is stride currently has a validator set. And as everyone knows, validators and cost us do lots of things. One thing they do is they run node infrastructure and they produce blocks.
But they also do other things like they run relayers they run rpcm points they review code before it Before they run new minaries They put out educational resources for the community so there's all these things of validators you and governors will
keep doing all of these things. The one thing that they won't do going forward is run a validator node. So they'll still need to attract delegations competitively. So this could be running infrastructure, running real errors, producing educational content, writing stride code, reviewing stride code,
So there's all these things that Valderers do, and that Governors will do. But Governors, the one thing that they don't do is run a stride Valider node. And this is because the caused must have Valider set will run stride Valider nodes. The reason that Governors are even required at all. So technically they're not.
The reason that I think they'll be useful to have on stride is it makes the UX very similar. So like you'll still go on coupler and you'll see all the stride validators that you already know and you'll be able to delegate, redeligate, etc. And it also helps stride out a little bit with its sovereignty.
So as stride is on ICS or as it transitions, it'll keep its sovereignty, meaning the future of the stride development is still up to stride token holders. It's not dictated by the Cosmos hub. There's like a few sort of edge cases like stride can't start slashing the Cosmos hub validators or crazy things.
like that. But it for the most part retains sovereignty. So someone needs to vote on proposals and steward that kind of sovereign development and this tried previously this dried validator set soon this dried governor set will do that. In terms of the security token
So like I said, it's still because stride remains sovereign. SDRD Stakers can vote on stride upgrades. They can set the roadmap for future stride development. They have the ultimate say in which which value
Our stake to on host trends so stride for example has like 20 to 30 million dollars of Adam stakes and There are processes that sort of help with the staking process, but ultimately the security Stakers have the final say and voting at upper down is
might change in the future, but this is how it works today. So for the most part, the STRD token functions in exactly the same way that it does today, just with 15% less, TXBs, MABs, Saking Awards, et cetera. But STRD doesn't have a
a max supply, right? No, it does. It's a hundred million. Oh, yeah. Okay. So what happens when we get closer to that? Because then I guess the 15% from the emissions or inflationary rewards would go away, right?
Yeah, so I mean, Stride has it cuts taking words in in half every I think every year.
So this is similar to the most posmos chance and it approaches 100 million but there will always be some staking words even if that amount gets very small. What's a little bit interesting maybe about stride is there is because there is this other source of staking
which comes from the fees generated on liquid-sake tokens. Even if stride had no staking rewards, it might still be able to pay for its own security. So it's not just the security inflation. There's other ways that stride can pay for security.
Yeah, and this is a play to basically all the blockchains right now because in the end when the when inflation ends at the point is that there should be real a sort of real real real revenue and transaction that covers the cost of
of the validators. And the side of the product, I think, it's quite a well-positioned because it has one application that's only that and it creates a ready-to-consistent revenue because
I think that one thing that could be highlighted is that actually atom delegator will start to hear multiple tokens not only stride because stride share the liquid seeking rewards revenue that are made of basically
all the tokens that stride on board. So one of the narrative that probably made the more bullish people about Cosmos sub was the fact that they will learn multiple tokens because security now actually this will happen already because of strides.
Yeah, yeah, it's going to be kind of funny to see like their Adam Stakers are going to earn strd and trn
But then also like the seven LSTs that stride supports today will soon eight once S to you, launchers in a couple days and you know, if stride supports 50 LSTs in a year, they're gonna earn taking awards and like
50 different tokens. So it'll be kind of a cool mechanism. I feel like someone needs to build like a staking rewards dashboard for the cosmos up at this point so that stakers and validators can like see what's going on because it's starting to get kind of complicated.
Did you want to add anything earlier, Jihun? I think you were emitting yourself earlier? Oh, no, no, no, sorry. I was just going to like one thing I could say about it about strides is and the governor's and everything like that is that I think for us, but
So, I think it's a very high security, but it's a kind of a curated set of consumer
with replicated security. And so I think that having being the liquid stocking provider on interchange security is going to give stride like this, you know, this spot as like the most secure liquid state provider out there.
And so I think for Stride token holders, that's, I mean, this I'm biased obviously, but I think that's worth the loss of inflation and rewards that they're gonna get is putting themselves into that prime spot. So I don't know if you agree with that, Aiden, but that's kind of my thinking on it.
Yeah, totally agree. The economic security and economic alignment are important for any cosmos chain, but especially for liquid-sake and providers. These things are 10x more important. Yeah, I see that totally makes sense.
I also think I read recently that liquid staking as a category overtook Dexas within Defas, now the largest category in that sense.
What is your thesis, what is your liquid-sticking vision? Maybe in general in the crypto space, but also specifically in Cosmos and also in that context, can you talk about your
thoughts on the liquid-staking module that was also another proposed, that just passed proposed by inclusion. We also had a spaces with exactly about that recently. Yeah, what are your thoughts on that and what's your long-term liquid-staking thesis?
Yeah, I mean, I'm very biased, but my long-term thesis is that liquid, the percent of tokens that are liquid stakes versus vanilla stakes is just going to go up over time. Maybe approaching something like 80, 90%, I mean, it's really
didn't hit these kinds of adoption numbers. There might be some edge cases where chain communities are really, really against liquid-saking for some reason. But yeah, my thesis in the long term is that it's probably going to approach like 80, 90, 100%. And there are also
some risks associated with liquid saking, and then we're all very familiar with all the benefits, but there are risks as well. Although I think Cosmos actually, funnily enough, I mean, so for context, Ethereum has something like 15% of circulating
token's staked, and I think of staked tokens, something like 30-40% or liquid staked. So Ethereum has somewhere in the ballpark of like 45% of FDV and like 30% of staked tokens liquid staked. Cosmos has I think just over 1% of
The Cosmos hub is just over 1% of tokens liquid-saked out of all stake tokens and then out of all circulating tokens out of FTV it's even a little bit less like point 6.7%. Liquid-saking adoption in Cosmos is still in the very, very early endings.
Like no one can exactly say what's gonna happen for sure, but
I think there are some pretty serious benefits to having lots of liquid-saking adoption. But then, like, thinking about the risks, even though Cosmos has such low liquid-saking adoption, there are lots of people that think about these risks. I think, in particular, like, Cosmos sort of invented proven stakes.
There's already this strong cultural element of thinking about the guarantees that proof of stake provides and like if anything comes in and starts to question those assumptions, then there's a lot of thinking that happens about how that thing can be made secure. So I think liquid-saking is in that seat right now. And the liquidity-staking model
I think it is best thought of as a regulation on liquid-saking providers. So it does a few things to kind of make liquid-saking safer in general. And it also makes it easier to use.
easier for stakers to onboard to liquid saking providers. So if you have staked Adam on some validator, you can instantly onboard to a liquid saking provider. And then it has these caps on liquid saking. So, you know, only 25% of all tokens can be liquid saked.
And it also introduces this thing called the Validator Bonds, which means that for a Validator to accept liquid-saking or delegations from liquid-saking providers, they need to put some skin in the game and self-bond some tokens themselves. You guys have probably already talked about this a lot. It was okay. That's the high level.
Yeah, we definitely covered all these dynamics a couple of weeks ago. I was good is actually now from your perspective, which is very different from most of us because you're actually at chain at the centering, the atom
What is your vision of the economic zone like? I know that you said that you are joining because all this collaboration happening but do you have a vision long term and how do you see stride position in that vision?
Yeah, yeah, that's a good question. I think one thing that has been really exciting for me to see in Cosmos has been there's this thing, there's this like, memetic technology that is really aligning people. So I feel like in Cosmos there's like lots of different
incentives and especially when every chain is fully sovereign there's maybe a little bit less alignment but with the Adam economic zone there's a little bit more incentive alignment for chance to do well. So for example I was talking about this scenario where stride is providing liquid sinking tokens the Cosmos hub is providing a security neutron is providing
this defy innovation sandbox so everyone is providing something for each other within the atom economics zone and they're all incentivized to to help each other out and and make each other do well. And I think this is also sort of like the spirit the the best manifestation of the spirit of
Cosmos and IBC, which is specialization, sovereignty and collaboration. You have like each chain doing its own thing really well. And you know like the complexity gets pushed each chain. So the liquid-sake and logic doesn't have to live on the hub and like endanger anything there. The smart contract logic doesn't have to live on stride with the hub. It's
and the hub just focuses on making really robust security mechanisms, and then they all collaborate. So I think it's basically just this, this is the founding version, but you can imagine much more complicated and sort of like, in
There are lots of chants like you might have like a deck so lending protocol like all these other Primitives or things that we haven't thought about yet like maybe games or like payments or I don't know like the possibilities are sort of endless So I think that's part of it and then maybe a little bit more specifically I think what the Adam economic not the opportunity that the Adam economic
The dynamic zone has is maybe a slightly better UX for Cosmos. So today the UX is pretty fragmented and if you come from another ecosystem it can be kind of confusing. There's all these different chains. It's pretty hard to think about security assumptions and like IVC denoms and all these things are just very complex.
I think if the atom economic zone chains are working together, like maybe there's a wallet that specializes in servicing the atom economic zone, maybe like everyone adds technology that makes using IVC easier, for example, like strange levels packet forward middleware would achieve this and everyone's incentivized to do so. So it feels like everyone
is growing in the same direction. And as long as there's a little bit more improvement, maybe on the UX layer and the Cosmos hub keeps providing liquidity to the Adam Economics zone, I think it's going to be a pretty fruitful collaboration. Although I'm also really curious to hear what all of you guys think about the Adam Economics zone. We have some pretty diverse perspectives.
Yeah, I think, I think when looking at replicated security is a unique offering because it's like this curated set of chains that all have the same
security, it's the most possible security, I guess, in Cosmos right now at least, and they can kind of, and it creates this framework for close collaboration. So one example, just take the thing that Aden was saying about the front end, that's something a lot of people
I think that's something that the Adam Accelerator, they're also looking at that, they want to make grants for that and stuff. But it's the kind of thing where you could have like a front end, which closely integrates all these different features. And as a cohesive experience around it.
They can all be kind of considered one app because they all have the exact same security. So it's is interchain has the flexibility of interchain but it also has a little bit more
of coordination. So if you think about all these different services that are possible, imagine, think about finance or coinbase or some of these centralized companies.
We can almost provide something like that, but in a decentralized way. Once we have everything to tie everything together. So I think that's why I'm excited about RIPP is security. It's just kind of rephrasing what Aiden said. But I see it as a super app of sorts.
I think from my perspective, as a content creator and from the community view, the atomic economic zone is honestly a blessing in the sense because I think it's a very sticky and very catchy narrative and I think so far specifically the customer
The KELA application, I'd like to call it the recommended security feature.
up to use it, including you guys with stride, but many more that are lined up. So I think just from the also like positioning perspective, what is the cosmos hub? I think the atomic economic zone is actually the perfect way to
Explain it and also to make it clear that the customer sub now has a clear role in the customer's ecosystem and a clear service. I think it also launches this era of the customer sub as a service provider in customers. So yeah, I'm very excited about that from a content and narrative perspective as well.
Yeah, I think all of you shared some very cool vision. From my perspective, I will say that as old Cosmonaut that has been here since before I BC, I always join a DC ecosystem for the vision of having this collaborative environment with all
the chains connect, connect that collaborate. Then I mean in the past years we have been through a lot of drama which was inevitable because you can't have collaboration without economic alignment and I think the other Macombra and Zon is exactly what is
about to create because it offers by design this push to collaboration. Of course you don't have to collaborate but because you are aligned with the Cosmosub because they offer security then you are also aligned with other chains because if they go well you also
necessary, we will also go well. So all these alignments create that kind of IBC collaborative environment that I was dreaming when I joined Cosmos. So it's for me it's a very exciting period then I think it's also it's also beautiful to see that anyone has his own vision and
And because having a vision is a beautiful thing, I think it's a very look. And because it's what push people to join the ecosystem. It's what push newcomers to enter because they are excited. And they have something to see developed as a critical stuff. Anyone has any last stuff?
I will say no. So I think crypto seed soon will have to run because we'll have a live stream with the shayan right? Yeah.
Yeah, actually, I'm just setting up my computer here. But yeah, I think it's really cool. I think so, I just joined. Maybe we want to share something. I have a question or any neutron updates.
And then maybe if there's other people in the audience that have any questions, feel free to raise your hand. But yeah, I actually got to run now. And the G-Han as well in a few minutes. So yeah.
Thanks. Thanks, everybody. I think we should do go guys. For anyone that is listening, Crypto citizen, we'll have an interview about game on FTs and they will talk
about Cosmos Subtract because Cosmos Sub is a sponsor. So actually one of the track and the challenge is actually building NFT consumer chain and interchain NFT and with
Replicate security kind of application. So it's kind of interesting. So everyone can join later that interview would be super cool. Yeah, I have one last question in that context to to Aidan.
What do you think, what would be an interesting idea for consumer chain that fits into this atomic economic zone narrative and would also like fit into that flywheel for Atom and liquid staking and D5, what is your take on that?
And I think that's a good question. I mean, I think D5 primitives would definitely help like maybe a DEX, maybe a lending protocol would be great. Although you can also build these things on Neutron. So it's a bit hard to say. I think anything that draws lots of
anything that brings lots of people to Cosmos in favor of. Hi, we, but yeah, thanks for that and also Rob for hosting and I don't see any questions, but yeah, I got to run anyways and the Gianna's also yeah, thanks. We'll see you guys next week.
Hey, Dan, do you have any last stuff to share before we are closing that you want to add or your happy with everything has been shared? Yeah, no, this is great. Thanks so much for hosting Robin Sido and personally super excited for us to join the the Adam economic zone.
I think it's going to be great. Very exciting next couple of months. Yeah, and I think we will have a lot of work. So good work for everything that is coming because it will be a first time so there will be
There will be needed a lot of collaboration but also a lot of excitement. So it will be very cool to see this first migration happening. Thank you everyone for joining and hopefully the next the next Atom and Zonet we will do with the side will be when is almost approaching the onboarding.