Hey folks! Nick Odio here - Chief Growth Officer at Ferrum Network. I wanted to hop in here and introduce ourselves. Ferrum is about to make a big push into the Cosmos ecosystem starting with our multichain DEX aggregator, MultiSwap, and eventually with our Quantum Portal technology, a multichain messaging engine connecting ecosystems outside of the the Cosmos ecosystem with Cosmos.
Just to provide a bit of a background on Ferrum, we’ve been around since 2018. Ferrum is one of those rare projects that has not only survived but thrived during multiple bear markets. The main reason for this is because we’ve continued to build products and services that people want, starting with our suite of Staking as a Service products to Iron Vest, a white label linear release and claiming portal. These Blockchain as a Service products have been utilized by over 200 projects across a multitude of EVM and non EVM ecosystems and have allowed us to scale the team to be able to focus on something a bit more ambitious which is ushering in the age of something we’re calling Interoperability 2.0.
Eventually this will include the aforementioned multichain messaging engine built using Substrate called Quantum Portal that we will look to integrate with appchains in the Cosmos ecosystem. However, in the meantime, we would like to kickstart our relationship with the Cosmos ecosystem by integrating MultiSwap with some of the more prominent appchains. The objective here is to reduce the layers of friction that exist between users and the Cosmos ecosystem by providing a seamless way for folks to move assets from a multitude of networks outside of Cosmos to Cosmos.
To do this, we will tap into existing DEX liquidity from the likes of Helix and Astroport on Injective to Osmosis DEX to Shade on Secret and more. Since MultiSwap is an aggregator and does not host any of its own liquidity, it will have a positive impact on not only the ability for users to migrate capital to the network but also on pre-existing DeFi platforms, such as the ones mentioned above, by encouraging volume and TVL. So if anyone from those teams is reading this, please reach out to me on Telegram (@cryptodio). Let’s talk!
Multiswap will help users smoothly transfer value between Cosmos app chains while utilizing underlying IBC technology. The inefficiencies stem from channel management since IBC channels are all different per asset and per chain. For example, an ATOM transfer from Osmosis to another Cosmos chain is not straightforward as it needs to use Hub as an intermediary chain. Multiswap provides a way for EVM and non-EVM chains to interact with the Cosmos ecosystem through a single operation, drastically reducing the layers of friction.
To provide a bit of context regarding where we’re currently at with MultiSwap, we’ve already conducted swaps between Cosmos based appchain Cudos, whom we’ve had a longstanding relationship with, and EVM networks. Meaning tokens on EVM networks have been successfully swapped from Metamask to Keplr wallets for CUDOS at transaction speed… which is pretty exciting to watch! So as you can see, some of the work has already been done on the CosmWasm side so we’re looking to dive deeper into the Cosmos ecosystem! If anyone is interested in demoing the product don’t hesitate to reach out.
To provide a bit more of a technical context on the work we’ve done thus far in the ecosystem, members of our team have participated in custom sovereign blockchain development for many years utilizing tendermint, IBC and custom modules (staking, slashing, distribution, AMM, orderbook, cosmwasm, ethermint) while Ferrum officially started contributing code to the Cosmos ecosystem in May 2022. We built a bridge pool Cosmos module for Pocket Network to store funds safely on a module account and withdraw from an Ethereum signature. We have also built a cosmwasm contract for an integration of MultiSwap with Cudos; an appchain in the Cosmos ecosystem.
You can expect Ferrum to participate more closely with the latest Cosmos native features including IBC. The contributions will be open-source cosmwasm contracts, modules, frontend/backend tools, utilities, and applications.
We’re hoping to apply for a grant from Cosmos Hub to support the development of these integrations and features so we wanted to introduce ourselves and get the conversation started around it.
P.S. In the future, we have a lot more that we can bring to the network such as our Iron Vest technology, our Staking as a Service solutions, and our incubation services for future projects building on the network. And again, the end goal is to integrate our multichain messaging engine, Quantum Portal, with the network… but lets kick off the discussion around MultiSwap to start! It won’t let me share links here but if anyone wants to find the architecture doc for MultiSwap, whitepaper for Quantum Portal, or our Github you can find them at ferrum.network.
Looking forward to hearing everyone’s thoughts!
Best,
Nick Odio - CGO at Ferrum Network