Since 2022, I have invested in Cosmos (ATOM) and have been staking it without making any changes. However, over the years, it has become increasingly difficult for me to capture the clear prospects and actual value of projects in channels such as communities and forums.
The project progress lacks clear communication: Cosmos, as a vision of “blockchain Internet”, attracted a lot of attention in the early years, but in recent years, the project roadmap seems to lack transparency and consistency. The core development team has a low update frequency in the progress of the Interchain ecosystem, and the implementation of key milestones is often vague, making it difficult for long-term holders to feel substantial progress.
The ecological development is slow and scattered: Although the Cosmos SDK has driven the birth of many independent chains (such as Osmosis, Juno, etc.), the core functions of the Cosmos Hub (such as Interchain Security) are progressing slowly, and the actual adoption rate seems to be lower than expected. Projects within the ecosystem operate independently and lack synergies, making Hub’s “central” position seem unworthy of its name.
Ambiguous value capture of ATOM token: As the native token of Cosmos Hub, the actual use cases and value capture mechanism of ATOM are not clear enough. Although staking rewards are attractive, they rely more on inflation rather than actual economic activities within the ecosystem. Compared to other Layer 0 or Layer 1 projects, ATOM’s role in governance, transaction cost sharing, or cross chain interactions appears marginalized.
Low community atmosphere: On platforms such as Reddit and Twitter (X), community discussions often remain superficial and lack in-depth exploration of the long-term vision of the project. The interaction between the official team and the community also appears insufficient, making it difficult for people to feel cohesion or confidence in the future. In contrast, the community engagement and developer enthusiasm of other competing projects seem to be superior.
Competitive pressure and unclear positioning: Under the competition of cross chain protocols such as Polkadot and LayerZero, Cosmos’ unique advantages are gradually diluted. Although the IBC (Inter Blockchain Communication) protocol is technologically advanced, its practical application scenarios and user perception are not high, and it has not been effectively transformed into market competitiveness.
As a long-term pledged ATOM holder, I am disappointed with the slow progress of Cosmos Hub in technology implementation, ecological integration, token economy design, and community governance.
Fair enough ! You highlight some of the points that are being worked on currently.
The question that comes to my mind when I read your post was : “what’s your plan as an investor ? (timeframe, price invalidation, red line fundamentals)”
The Cosmos Hub’s developpement is slow cause it is purely decentralised. For me, it is a sign of strenght. Now it’s gotta find its own utility and economic model.