Interchain News #6

Another tantalizing week in the Interchain has come to an end, with lots of exciting product & partnership announcements, airdrops going live, freshly unveiled AI-agent launchpads, new snapshot updates, chain upgrades, first signs of the Appchain thesis catching fire, and so much more.

Everything bundled in this article. Enjoy!

Mantra - The Home of RWAs

The market is slowly waking up and repricing purpose-built chains, also knows as Appchains. Mantra Chain is leading the charts, jumping from $1.6 last Friday to over $4 today, Monday 18.

Up almost 200% over the past week, Mantra has overtaken ASI, Injective, the Cosmos Hub, Sei and Celestia in market cap, becoming the second most valuable L1 built on Cosmos tech, following Cronos.

Tokenizing Electric Motorcycles

Mantra has partnered with Pyse to tokenize electric motorcycles for sustainable deliveries in the UAE.

- Tokenizing 10.000 electric bikes by the end of 2025.
- Starting off in Dubai this December.

$OM staking on Mantra Mainnet

With the launch of the Mantra Mainnet, $OM tokens can now be natively staked on Mantra to secure the chain and earn staking rewards.

- If you still hold ERC-20 $OM on Ethereum or Polygon bridge them over to Mantra chain. Here's a quick bridging tutorial.
- Stake $OM on Mantra chain to earn ~ 18% APY.
- Participate in the Mantra ecosystem to increase your chances for future ecosystem partner airdrops.

THORChain Ledger Integration

THORChain is now fully integrated with Ledger Live, enabling Ledger users to natively swap assets directly from within the security of their hardware device.

- Cross-chain swaps with maximum security.
- BTC for ETH, USDT for DOGE, ATOM for AVAX & much more.
- No more wrapped tokens.
- 100% self-custody of your funds.

Other major wallets and exchanges, such as TrustWallet, OKX Wallet, and THORSwap are integrating with THORChain to offer users seamless native cross-chain swaps at their fingertips.

Affiliate Earnings reach new ATH

- Weekly affiliate fees just hit a new record with over $1M.
- Ledger is leading the way with $448K earnings.
- Closely followed by TrustWallet with $433K.

Wallets and exchanges earn a small cut from each cross-chain swap initiated through their frontend, making integration with THORChain a no-brainer.

$1B Total Value Locked

MAKE ATOM BAD AGAIN

Bad Kids the Cosmos OG NFT collection is now priced in $ATOM, the Cosmos OG token, closer aligning both communities.

ATOM is the most liquid and distributed token of the interchain, listed on all major CEXs and a fundmental pillar of the Cosmos on-chain economy.

Echos - The Launchpad for AI Agents

Echos is a novel AI agents and memecoin App that allows users to create their own on-chain AI agents, which are called Echos.

- Echos are AI agents with access to a crypto wallet and an X account.
- Users can launch their own AI agents, deploy memecoins, send them to Echos, and trade them as Echos post on X.
- Echos is built as a custom Rollup with Celestia underneath.
- The gas token on Echos is $USDC.

Here's a short video tutorial on how to fund your Echos account, launch a meme coin and interact with AI agents aka Echos.

Osmosis Updates

Alloyed Assets are taking over

Osmosis users can now easily convert & standardize their assets with only 2 clicks.

- Better overview and smoother UX.
- Deeper and unified liquidity.
- Increased composability & flexibility of your assets.

The $OSMO furnace is running hot

ProtoRev, a chain-native arbitrage mechanism, rebalances all pools on Osmosis accumulating $OSMO, $ATOM, $USDC as protocol revenue.

All $OSMO collected via ProtoRev is burned and forever removed form the circulating supply.

Over 2.1 million $OSMO has been burned so far.

$1M Bitcoin has landed on Osmosis

- In collaboration with Omnity Network => ckBTC
- Bitcoin DeFi is growing fast an Osmosis. $BTC has the third largest trading volume on the DEX, after USDC and OSMO.
- Osmosis is aiming at becoming the #1 DEX to trade Bitcoin.
- $ckBTC being part of alloyed Bitcoin.

Stargaze Launchpad V2 is live

One week after the launch of Marketplace v2, Stargaze introduced V2 of their NFT launchpad with the following new features:

- Tiered Whitelists
- Burn to Mint (soon)
- Onchain Metadata (soon)

The Story Ecosystem is expanding

- 24.7M in total funding raised by ecosystem projects building on Story Protocol.
- Over 100 projects are building on Story, the purpose-built Appchain for digital IP.
- Covering all areas from creator & consumer, AI projects, DeFi protocols as well as IP infrastructure plays.

Moonpay integrates Injective

- Making $INJ available worldwide on Moonpay.
- Streamlining access to Injective's growing DeFi ecosystem.
- Going from Fiat to Crypto in minutes.

Noble Updates

$USDY is now live on Noble

USYC, is a tokenized fund that invests in short term US government bonds. It's the equivalent of owning US Treasury Money Market Funds but fully on-chain via Noble.

- Better speed.
- Full transparency.
- Interchain routing & composability.

$423M Total Assets Issued

Stablecoin issuance on Noble, a purpose-built Appchain for stablecoin, has now overtaken Avalanche and Polygon in Total Assets Issued.

Noble acts as the liquidity gateway to the interchain. All assets issued on Noble such as $USDC, $USDY, $EURe or $USYC are fully interoperable with the broader interchain and can travel within seconds via IBC to all Cosmos Appchains.

Helium Upgrade

This latest chain upgrade brings the following improvements:

- Users: Improved Ledger functionality (CCTP signing), Bech32m address support for privacy support on Penumbra & Namada.
- Devs: IBC v8 for improved appchain connectivity, ABCI 2.0 compatibility (vote extensions + mempool optimization).
- Asset issuers: Improved functionality around send restrictions, Use of vote extensions: Allowing data to be taken from other chains.

Airdrops

Tribble Airdrop to Bad Kids and Sloths

Bad Kids and Sloths will be eligible for the upcoming Tribbles airdrop.

In order to maximize your airdrop you should join the Agoric Discord and get the Tribble role.

XION Airdrop

The XION airdrop checker is out and many Injective communities qualified for the airdrop.

- Ninja Pass holders.
- Premier Ninjas holders.

Snapshots taken

1) A snapshot of early $ATOM depositors of Hydro has been taken on November 17th.

2) Side Protocol took a snapshot of all Bad Kids holders on November 13th.

3) Only one day later, Side Protocol took another snapshot, this time of all Sloths holders.

Squid Wallet View is live

This new feature allows you to view and manage all your crypto across 20+ wallets and 75+ chains.

- See your balances without switching networks.
- Find forgotten tokens & swap them directly on Squid Router.
- Cross-chain and aggregated balances.
- Track all your assets in one single App.

That's it for this week. Thanks for reading folks!

We hope this article helped you stay up-to-date with the latest developments in the Interchain.

#InterChainNews6

Disclaimer

This article is intended to educate readers about certain topics and should not be considered financial advice in any way.