Cosmos (ATOM) passes the v7 Theta upgrade, ETH bridges to Osmosis via Frontier

Hey everyone, lil G here from the Cosmos ecosystem.

Just wanted to share a few things going on in Cosmos on the r/CryptoCurrency subreddit.

Recently, Cosmos governance has passed the v7 Theta upgrade. This upgrade consists of a few new features and a few bug fixes and etc.

Interchain Accounts
Interchain accounts are a new feature in the Cosmos IBC (Inter-Blockchain Communication Protocol) that allows one sovereign blockchain to control a wallet on another blockchain. This means you can provide liquidity, stake, swap tokens on a token on one chain from another blockchain (e.g. I can stake my JUNO tokens on the Osmosis chain!). This is meant to increase Cosmos' composability and also its UX on all platforms on all IBC blockchains.

Osmosis also created its frontier.osmosis.zone extension DEX. This DEX is an extension to the Osmosis Main DEX (app.osmosis.zone). The only difference is that the Frontier DEX enables the listing of tokens and coins on the DEX without permission. So Frontier is an all permission-less DEX.

Therefore, Gravity Bridge has decided to list their bridged ERC-20 tokens from Ethereum to Osmosis. 4 ERC-20 tokens: WETH, DAI, USDT, and USDC have been listed to Osmosis. You can now bridge ETH to Cosmos via Osmosis. Osmosis plans on selecting are ETH bridge provider between Wormhole, Axelar, Celer Network, Umee, Gravity Bridge, Nomad, and more. They will also utilize Nomic's (NOM) BTC bridge to bridge native BTC assets onto the Osmosis chain. Osmosis is prioritizing the tokenomics and emissions of its token to fund and incentivize good projects such as ETH, BTC, and other tokens via liquidity pools.

You have probably heard the JUNO Prop 16 drama (the governance proposal that tries to compromise a gamed amount of JUNO tokens to a Whale that has been selling off his rewards). This has probably given you pessimistic views on JUNO and the Cosmos chain and intervening in the immutability of the chain. But the Core team has been creating another proposal that the community has been wanting for a long time: to burn the rewards of the Whale. The Unity Win Win Win proposal will be set to have the funds of the whale controlled by the community and governance. Promoting decentralization.

A hot topic in the ecosystem today is the reward allocation of the FOT token. Fortis Oeconomica is a project that has the goal of equalizing the financial system for all. The project is impossible to wrap around. 90 percent of the community project it to rug pull because of its high staking rewards and its insane liquidity incentives.

That is what is happening in the Cosmos ecosystem at the moment! Cosmos plans on bridging its IBC tokens to more chains like Polkadot, Solana, Moonriver, Fantom, Zilliqa, and more in the future.

https://preview.redd.it/hrpr2qo53js81.png?width=1400&format=png&auto=webp&s=71c9a5e5fa996f954951a3d477c2b3107c54cf2c