More Cosmos Tokens with Promise

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More Cosmos Tokens with Promise 


        In my previous article, "The Four Dark Horse Coins of the Cosmos Ecosystem", I spoke about four different coins that were extremely valuable to own and stake in the cosmos ecosystem; ATOM, OSMO, JUNO and LUNA.  I believe these are extremely solid additions to most cryptocurrency portfolios when considering their full IBC compatibility, their rich airdrop generosity, and expanding ecosystem.  There are other great coins in the Cosmos ecosystem worth considering.  However, I don't think it will have that great rise the other previously mentioned cryptocurrencies will have.  In addition, they may have some flaws to them that can hold them back.  The coins I will be discussing in this article will be SCRT, XPRT, ROWAN,  AKT, E-MONEY, STARS, EVMOS, IRIS.  Some of them offering some airdrops which could be worth looking into.  They are also networks that have the potential to grow as well.

SCRT (Secret)

        What is SCRT?  It is a Data Privacy Network working in the cosmos ecosystem.  You can easily get it by going onto Osmosis and exchanging tokens there.  The whole idea is pretty cool.  Consider everything you are currently doing on other smart contract platforms but without all the details that go into making transactions public.  Check out SecretNodes if you want to have an idea what is available to the public. 

    They have a lot of really interesting projects going on.  One of the really cool projects is the secret bridge.  It allows you to turn tokens from the Ethereum, Binance smart chain or Monero into wrapped secret tokens.  If for whatever reason you cannot get BNB or Monero, you always have the choice to use the secret network bridge.  Although at the moment, there is a bug, you can yield sSCRT tokens for providing liquidity to the bridge.

    Another really cool app for the Secret Network is the wrapper function.  You can take your IBC compatible coins and wrap them into secret Snip-20(Fungible tokens of the secret network) to keep your balances private from the world.

    However, the overall ecosystem is extremely lackluster.  There are only about 16 dapps on the secret network.  The majority of the ecosystem includes messaging apps and games.  You really don't need much privacy for playing games.  However, there are some currently useful dapps on the SCRT network:
  • SecretSwap-This is basically a major DEX for the secret network.  There are some fairly good yields available here for providing liquidity to the pools.  For those who are fans of XMR, this gives you an opportunity to yield against your Monero.
  • Jackal-  While it hasn't been released yet, this could become the killer app of the secret network.  It is a service that provides privacy cloud storage.  There aren't projects quite like this, even in the real world.  It might be the reason to pull SCRT from a niche coin into a major player.
  • SiennaSwap-Very similar to SecretSwap.  You can pool tokens as well as wrap coins.  They also have plans to create a defi lending protocol.
  • Shade-Very cool project for those interested in stablecoins.  The plan behind shade is to create an algorithmic stablecoin with all the privacy features of a Snip-20 token.  The general trade off between crypto is transparency and privacy.  For those who want to take advantage of blockchain technology without the drawbacks of privacy might find shade a very interesting project.
        I only have two serious critiques about the Secret Network.  The first is the lack of dapps and DAOs.  Without a large number of dapps to engage with, you're talking about a blockchain that is empty.  That makes a lack of use case for the Secret network.  The second argument is the fact that it is a privacy based network.  Most privacy coins do not have a large adoption to begin with which could have the same effect on SCRT.

XPRT (Persistence)

        In a nutshell,  XPRT is a layer-1 blockchain specializing in decentralized finance.  Right now, it is a small ecosystem with four major products; PStake, AssetMantle, Comdex, InterNFT.  Pstake is a dapp that allows Proof of Stake assets be staked while creating synthetic versions to be used for defi yield.  Comdex is a synthetic assets marketplace which creates synthetic assets based on real world assets.  AssetMantel is concerned with allowing NFT creators to have their own stores to sell their NFTs.  InterNFT is concerned with making NFTs interoperable onto different blockchains.

        As of right now, there isn't a lot going in the ecosystem.  Some of these things are already happening on other blockchains which begs the question, why would you use the XPRT ecosystem?  These are very useful tools that are running on cosmos in the background, so it shouldn't be ignored all that quickly.

ROWAN (Sifchain)

         Sifchain is what is called an omnichain dex.  It basically means you will be able to trade assets across different blockchains.  The major problem is americans are forbidden from using it.  However, for those who like projects with major Venture Capitalist backing, here are a few name drops; Alameda Research with the backing of Sam Bankman-Fried and Jun Capital with Vitalik Buterin as an advisor to Jun Capital.  Although the latter half of that comment is harder to confirm. 

AKT (AKASH)

        Akash is a form of decentralized computing.  According to its founder, Greg Ousuri, the team's long term vision is to compete with the largest of Web 2.0 providers in this space; Amazon Web Services, Microsoft Azure, Google Cloud Computing and Alibaba Cloud.  The reason why these services exist in the first place is because of the massive amount of computer power they have and is heavily under utilized.  Where these companies' primary products only use 15% of its full capacity the majority of time, they decided to rent the other 85% to other companies and users.  However, there have been things to criticize about these services.  You aren't allowed to run just any kind of software on their servers.  In addition, they have an on and off switch if you use their servers.  When social media companies like Parler were shut down, it demonstrated the very centralized and oligarchic nature of web 2.0.  At the current moment, the cloud computing market is only at $500 billion dollars.  There is a lot of room for growth and Akash is looking to take that market.  As it stands, Akash has made the claim they can offer the same services as these other companies for 20% of the price.  According to Greg Ousuri, he believes that will be the winning formula to take market share from these four large companies.

        Akash allows for what is called the "AirBNB" experience of cloud computing.  That means developers are going to have a choice.  As of right now, they are running a lot of backend work for a lot of Cosmos projects.  Akash also serves to assist the Solana blockchain, which at the moment is extremely centralized.  With Akash, they are trying to make Solana a much more decentralized system.  A project like Akash goes to show the commitment to being interchain friendly.

        While the underlying project is worth being bullish on, the token can be a different matter to question.  It is a highly inflationary token.  So inflationary that Greg Ousuri highlighted the disparity between the price of the token and the market capitalization of Akash.  On March 25th 2021, the market capitalization was 213 billion dollars and dropped to a market capitalization of 151 billion dollars on march 25th 2022.  In that same period, the price per token was $4.98 and dropped to $1.12.  At the moment, Akash's reward to token holders is the high inflationary reward, which they plan to shift away from once the business model can pay rewards to owners of the coin.  For someone to own the Akash coin, they need to have a 5 year time horizon.
        

NGM (E-Money)

        E-Money is probably the most boring project on this list.  They are basically an issuer of stablecoins on the blockchain.  It is collateralized one for one in reserves completely audited on a quarterly basis by Ernst & Young.  Stablecoins held in your wallet have an interest bearing of .5%.  It is largely for large institutions who want quicker settlement payments. As far as price performance is concerned, this is a great token for those who are in crypto and want to invest into something that is far more risk averse in their portfolio.

STARS (Stargaze)

        Stargaze is another interchain NFT marketplace platform.  It is still very much in development but absolutely usable.  The success of this platform depends on two things, the adoption of NFTs on the cosmos blockchain and how much utility NFTs will bring as a technology.  Most of the reputation of NFTs is basically artwork on the blockchain.  There are other ways to use the technology and I happen to be very bullish on the technology.  However, I see the ethereum blockchain monopolizing the NFT space for the most part until other blockchains have a way of distinguishing the use of NFTs on their own blockchain.  Even though stargaze is only hosting artwork, I recall listening in an interview where he discussed media content production being in the long haul plans a la youtube.

EVMOS (The Ethereum Virtual Machine on Cosmos)

        Evmos is a a very useful project.  Sometimes blockchains become extremely congested and cost high fees to use.  This is especially true for blockchains like Ethereum.  You can think of it as similar to a layer 2 solution or a sidechain to handle ethereum transactions.  Although projects like this ever rarely get that kind of love.  In terms prices performance for projects like this, they tend to abyssal.   

IRIS (IRISNet)

        Understanding IRIS can be a little confusing.  This is a Chinese based cosmos project.  It seems to be a business applications based chain with an emphasis on data and analytics.  It seems that it is trying present itself as a tool to integrate web 2.0 and off chain databases with blockchain technology.  

    It is something to keep your eye on but quite frankly I do not completely understand the nature of this project.  Part of it has to do with the very technical nature of the project.  Another has to do with the team not being able to communicate it to a layman such as myself. If this is true of myself, there is a very good chance others will look over this project.


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