Cosmos Hub's recent changes finally point in the right direction (supporting @0xMagmar's choice)
Recently, Cosmos Hub has undergone significant adjustments. The new leader Magmar has taken charge, moving beyond just discussing visions and truly driving Cosmos towards a path of "running business and gathering value".
1. Cosmos has finally started to become more "grounded"
In the past, everyone said that Cosmos had strong technology and excellent cross-chain capabilities, but there were almost no users on-chain, lacking real transactions and revenue.
The new direction is: to transform Cosmos Hub from merely a "cross-chain relay" into a main platform that can support applications and have a thriving ecosystem.
Several key changes:
Cross-chain speeds are faster, and the experience is more stable.
Starting to provide security services (shared security), the Hub can generate additional revenue.
Smart contracts will soon be opened up, allowing for the direct deployment of DeFi, NFTs, stablecoins, and other practical applications on the Hub in the future.
2. What does Cosmos want to become?
The goals promoted by Magmar are actually quite clear:
1: ATOM needs to be truly "usable", not just for staking, but also for trading, collateral, and payments.
2: Attract real users to interact on-chain; currently, platforms like Stargaze (NFT market) have already migrated to the Hub, with a focus on developing DeFi and stablecoins next.
3: On-chain activity determines valuation; the future of Cosmos will rely on real data to support value rather than narratives or storytelling.
3. If I were a product manager, what would I do?
Step 1: Prioritize the promotion of stablecoins, which must be compliant and feasible.
Stablecoins are the foundation of the entire on-chain ecosystem; without them, there are no transactions, lending, or yields.
Prioritize the compliant integration of USDC and USDT into Cosmos Hub to establish stable trading pairs;
Encourage the development of trustworthy native stablecoins within Cosmos, such as those based on $ATOM's collateral mechanism;
Support stablecoin teams that can genuinely go live and pass policy reviews, avoiding empty rhetoric.
Stablecoins are the bridge between Web3 and the real world, and are the prerequisite for real transactions on the Cosmos chain.
Step 2: Bring in leading DeFi projects to ignite the ecosystem engine.
No detours, directly connect with established DeFi protocols like Curve and Aave on Ethereum;
They have users, trading volume, and revenue, and migrating copies or deploying cross-chain modules to Cosmos can easily bring activity;
Cosmos offers shared security, low costs, and customizability, which are all “plus points” for DeFi teams;
Collaboration methods can be flexible; as long as they can bring in usage and traffic, it marks the beginning of a positive cycle.
Cosmos needs these “implementable” projects to quickly heat up the ecosystem.
Step 3: The application chain route is Cosmos's long-term advantage.
The biggest feature of Cosmos is the ability to flexibly create AppChains (application chains), with each chain focusing on a single task.
Many projects can initially launch on Cosmos Hub, and after successful pilot operations, they can spin off to become dedicated chains;
The Hub becomes a “launch platform,” providing initial exposure, security guarantees, and cross-chain services;
Ultimately forming a modular universe: centered around the Hub, surrounded by various efficient AppChains, each focused yet collaborative.
This route adjustment driven by Magmar pulls Cosmos back from “technical idealism” to “application realism”.
This is a transformation I am willing to support, and it signals that Cosmos has truly begun to walk on the right path. 💪
Cosmos has a strong hand and is finally starting to play it seriously.