Hi,
Terra stress test gave Cosmos ecosystem a big opportunity - not just in the field of creating new stablecoin (IST) but also to brand/prove other developers/stakeholders that Cosmos L1 is stress tested in real life. And it didn’t fell apart. And many interesting things are coming soon (see Billy
's presentation about v9 and v10 that he had today at Gateway to Cosmos conference )
Stablecoin - now is the right window for whole Cosmos ecosystem to step together and provide Agoric team a needed boost to ship IST as soon as possible. We all know that there is big demand for native stable coin within Cosmos ecosystem and not many users are aware that IST is close to be shipped. So I suggest next to do’s:
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there should be a call among big cosmos teams that they should temporarily rent developer that would help shipped IST as soon as possible (agoric can fund this). There are many teams so I would imagine we can bring 5 to 10 extra developers into short term focused project (like Zaki is already involved). Making a suitable native stablecoin (instead of relaying solely on USDC) is in my opinion a number one priority since window of opportunity is now. And won’t last long.
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demand for stable coin is here and is big. UST user experience gave us good example how stablecoin can live in Cosmos ecosystem: fast/ interconnected used across different chains etc.
Simultaneously we also need to communicate a fact that
Cosmos stack worked seamlessly during whole terra tsunami event. That is another feature Cosmos gained and there is an obvious lack of repeatedly stating the fact that Cosmos worked like it was designed. Maybe developers know this fact but world outside developers is not so aware (how else would we describe fall of Atom below 10 USD - not of course counting the influence of JoeKwon impact on whole atmosphere).
Crisis normally unite people. And same goes for Cosmos. It is really nice to see some projects are offering needed hand to Terra developers and that ethos is something we can outline. Family is family and always takes care for each other (looking just from the builder perspective).
We need upgraded version of Cosmos strategic vision (not just technical since we are already out of that) to put cosmos on the top of L1 ecosystems. As Zaki said today - we are slowly approaching to MVP but we also need to talk what else are missing parts that will make such vision a bit realistic.
As a long time observer, holder and user of Cosmos ecosystem I want to thank all Cosmonauts for fast, affordable and reliable execution - aka working Cosmos ecosystem.
