What If Every App Had Its Own Chain!? 🧠👀 Cosmos Ecosystem Research

[music] >> I think [music] that we just holding on to something. I think that we just holding on to something. I think that we just holding on to something. Welcome to Underground Crypto Deep Dive research show. Most blockchains are built around the same idea. One system, many applications. Everything shares the same space. And that means every app is competing for resources. Block space becomes scarce and the fees increase. But Cosmos approaches this completely [music] different. That's what we're going to be talking about tonight. Hope you guys are ready for a Cosmos ecosystem deep dive, cryptocurrency news, what's trending and relevant in the market. No point in saying goodbye because the countdown [music] is over. How is everybody doing tonight? I thought we'd start with well, the big picture of the Cosmos ecosystem. How's everybody doing? Welcome in, welcome in

to the Underground Crypto Deep Dive research show where we need lots of coffee. Because we're going to probably be going for a while tonight. I hope everybody's ready to raise their crypto IQ as we say over on this channel. In the bear market when everybody [music] is not concerned with raising their crypto IQ, while plenty of people who are not in this space or have only seen the space or are mocking everybody, that's usually how it goes. That's how you know you're in a bear market because everybody flips totally bearish. And yeah, they usually mock you for for having any faith in crypto at all. And that's fine. That's cool. I know where they're going to be when we run up again. But shout out to everybody who's here. And shout out to everybody who has enough sense to

build in the bear market. Well, 1 through 100 Cypherium bounced back. It was down 60% yesterday. Can you believe that? And today it's up 114%. Just look at it on the weekly. Should see, yep, big dip, bounced right back. I think I would kind of put that in the back of my mind a little bit that this thing recovers quickly when it drops hard. >> [music] >> Um might be good for a long at some point. Not my favorite coin if you really judge it by the project, but speculation is the market, right? Memecoin up 44%. You know I love that, up to $2.50. Uh I did buy 100 Memecoin at one point. I don't remember what I bought it at. But I think it was lower. I think it was like $1.50 or something like that. Maybe closer

to $1.30. Let's see. Let's go to the monthly. Did it ever go down to $1.30? Oh, only at one point. So no, I probably got it more like $1.50 or so. Anyways, those are the really big bubbles in our 1 through 100. Let's toggle and drop down, see what the rest of the market looks like. Most of it looks pretty flat. Except for 2 to 300 by market cap is up 9.5% overall. We'll be taking a look at that in just a second. Tao up 5%, Render up 6.8%, ENA or Athena, it's up 10% today. That ADI, we had put that on the list of things that we were going to look at. What's up, Crypto Keep? Been a little while. Welcome in, welcome in. Hope you want to know about the Cosmos ecosystem. Haven't seen you in a

while. Welcome in. Uh $4.18 here for ADI. We've got that on the radar of things that we might want to accumulate in the bear market. Decred, of course. Decred's been hot. Um Okay, like last week and or maybe it was the week before that. I don't know. Decred had a lot of pumps. Has it given most [music] of it back? It looks like it's given at least about $7. Oof, yeah. See, it pumped all the way up to $36 at one point and now we're at 20. Let's drop down another 100 and keep this thing going. Think I have enough coffee to keep the enthusiasm going the entire stream. Shout out to my undergrounders. Thank [music] you for being here. Manifold 14.3%, but is it anything compared to whatever it's dropped? It's like a low of the month looks

like almost 2 cents. Let's call that 2 cents. All the way up to uh 0.026 or a little over 2 and 1/2 cents. What is your average buy-in, Melissa, if you don't mind me asking? Ether up 13.7%. Nice. And 9 bit. You can only imagine what this project is, right? Bitcoin DeFi, anybody? 11.2% to the upside. And now, almost need like a drum roll, please, because look how much this this category's up. 2 to 300%. It's this coin again. Yo, what is up with this coin? It says USDJ, right? [music] Which, you know, USD anything, USDC, USDT, whatever is like what we typically would see with any kind [music] of stablecoin. But how many stablecoins do you know that, you know, commonly go up 900%. Like that's not a stablecoin. I mean, [music] it's unstable in the direction you

would want a stablecoin to be unstable in. But uh does what go up come down? I'm not too sure. Uh I pay $10 a week. Oh, you're So you're DCA'ing. Reliable J in the house. What's up? Uh Crypto Keep says, "Thanks. I know it's been a while. I couldn't keep up [music] with the time difference." No stress, man. I'm just glad to see you here. I'm not going to stress you. Nobody owes me a thing. It's the beautiful thing about life. Uh nobody owes me nothing. I just show up and do my thing and I welcome anybody who wants to be a part of it. And if you can't make it all the time, it doesn't make you any lesser. I [music] still appreciate you. Superverse, uh 13 cents from 11 cents, up 21.2%. I'm not very versed in

Superverse. Love to see sign down 21%. I I don't need people helping big government with their CBDCs. We don't need that. Anyways, USDJ is very weird. Let's take a look at that for a half a second. I'm going to start things a little bit more in the beginning from the crypto bubbles cuz there's a nice easy, you know, nice easy button right here to Crypto Rank or CoinGecko. I like that feature. Uh let's see. Yes, same with Flare and a few other coins. That's really smart. I should do something like that. I just tend to tell myself that I'm going to buy some and then proceed to put it off and then never buy any. Um Got a lot of things going on. Uh the my insurance is totaling one of my vehicles. That's fun. It uh has an

[music] AC issue. And the AC issue has gotten so out of hand that they are totaling my entire vehicle. Over an AC problem. Uh I don't know if I'm if I'm relieved, dodging a bullet, blessed, or mad about it. I haven't decided yet. It's very strange. But, that's not what you came here for. We're here to talk about crypto. We're going to do just that. [music] Just Coin has 1.2 million. Really? This thing is tiny. This thing has a tiny market cap. This is crazy. I don't know, man. If you see this thing and it did nothing for forever. So weird. It was It was a stable coin at point It was at $0. Like it was stably worth nothing. Until let's hit like the 3-month chart. So, even less than 3 months ago, it started to do something.

This is really weird. It's very strange, honestly. It's got circulating supply 2.5 million with an infinite max supply. That's not really a great thing. Why would people be buying into this or holding it? It's in the Tron ecosystem, it looks like. I don't know. This thing doesn't make any sense. But, what I would say is one, if you see this thing go down really hard, like go under like say like 4 500,000 market cap, I might throw 100 bucks in it. It might be an easy 10x. Cuz it look at it. It's done the same thing so many times. It's just up down up down up down. I mean, look at this thing. I mean, went from 121,000 market cap to over a million, back to like 120, and then back up. It's just bounced between these two points

like straight up and down. And look, right now it just bounced up. I don't know if I would short this thing with it having such a tiny market cap. But, if it dropped back down, I might want to get in and wait for it to pop back up. This is wild. I don't know this is I don't know. What stable coin acts like this? Let's go to the website. Because is it supposed to be like your traditional stable coin that just doesn't make a lot of sense to me. Yeah, Crypto Keep says USDJ sounds like a smooth scam. Exactly. Exactly. Uh Just is committed. But, they're so committed in developing Tron-based DeFi protocol that aims to provide all-in-one finance solution. I don't know. If you're if you're coming into the crypto space trying to be a scammer, why would

you pick Tron? You must really not know how to read the room. And you must really not know um crypto very well. If you're like, I'm going to go scam people on Tron. It's like, okay. Have fun with that. You and Justin Sun. I don't know. A lot of people use Tron to move USDT around. Don't really know if a lot of people use it much more outside of that, to be honest with you. But, I'm all for it. Maybe my problem is I just need to deep dive the Tron network. But, that's not what we're here for tonight. We're going to do Cosmos tonight, right? So, Bitcoin $71,300. Look at that pump. That's nice. Looking good today. Yeah, Melissa says she's she agrees with you. I just stay with Tether and USDC. Yeah, I wouldn't be putting my

money in US DJ. Although, if you did when it was low, you might have 10x your money real quick. But, you saw how quick it went up and down. You kind of need to get out of it immediately if it goes up. Anyways, Ethereum $2,166. BNB $647. [music] XRP $1.41. Hasn't moved much from that $1.40 region in a few days. Solana $91.70. Catching a little bit of that updraft today. Tron 31 cents, up 3.1% in the last 7 days. Dogecoin 9 and [music] 1/2 cents, for all intents purposes. It hasn't really moved a whole lot. Cardano 26 cents, almost almost 27 cents. HyperLiquid $40.18. Chainlink $9.36. Monero $340. XLM 17 high 17 cents, almost 18 cents. Uh Canton Network 14 cents. Meme Coin, one of the pumpers of the day. Look at the chart on this thing, guys. Let's

go. Oh, I'm still on market cap. That's my problem. Uh let's go by the price. So, from like $1.72 to like $2.50. Like just straight up. It's a nice move. I mean, where have we really in the last 3 months have you seen a move like that? What's up with that? And [music] I believe, if I'm not mistaken, let's send ourselves over to the TradingView and check it out. All right. Now, I got to get over there. Let's check out Meme Coin real quick cuz I swear we went over some TA for Meme Coin yesterday. I must have deleted it. But, anyways, what you can obviously see is this. And it really it really did the thing. It did it much faster and and, you know, proficient than I think we even expected it to. Wild. I swear we

went over this yesterday. Hopefully, somebody will back me up. Did we go over it? We definitely went over Meme Coin yesterday. It wouldn't have been at the bottom of my chart like that. But, let's see what this thing did. 67% move. Oof, with even [music] 5x, you you could have caught quite a move there. But, you guys probably want to hear about Bitcoin, right? You don't want to hear about that. Just joking. Most of you guys do like meme coins. We had this kind of falling wedge for BTC. And we'll put a measured move, and we'll see how this stacks up. This would take us all the way back up to 78.8, call it 79,000 for all intent purposes here on the 4-hour. You could look at it like that. I say I'm going to leave it and then

I delete it like almost immediately. But, if you hop down in the hour, I think you'll see [music] an inverted head and shoulder here. Well, that sneezes. So, that one coming from a mile away. All right. [music] I was I was kind of picking up on it. Here, look. Shoulder, head, [music] shoulder. Let's pull that measured move. This will be a lot more local if you get the move here. Bang. That takes you to 74.8, call it 75. Even that would be a good good move. >> [snorts] >> Excuse me. All right. I thought I saw something else there, but we're going to move along. That's good [music] enough. So, let's move on. That was a nice move for Meme Coin. Hopefully, somebody's holding it. Uh Melissa, you holding any Meme Coin? Batman battery says hello. What's up? I

see the XRP in the logo. I hope you like crypto. Do you Do you only like XRP or do you like crypto in general? Do you know how any of it works? What's your crypto IQ? Welcome to the channel where we try to raise that across the board. Avalanche $9.67. HBAR always chilling very much around where uh Dogecoin [music] is. 9 and 1/2 cents. Zcash $231. Sweet. 96 cents. And let's go see where that Flare is. That Meme Coin has moved up quite a bit. I like that. Flare [music] still number 85 and still uh in the top 100. We love to see that. Let's take a look at highlights. And of course, we have to do our due diligence [music] and wait for everybody to come into the stream. I don't know where everybody's been. Man, I haven't

seen bankroll in forever. Glad to see Crypto Keep here. Haven't seen bankroll in a really long time on the stream. All right, we got Bittensor >> [snorts] >> or Tao. That should probably surprise nobody. It's up 28.5% in the last 7 days and with a market cap of 3.3 billion, that is a lot harder to achieve than say uh US DJ or a small smaller coin with a smaller market cap, right? It's harder to get 28% when you got 3.3 billion in your market cap. Rain, which is a prediction market. Uh haven't seen it be notable or trending in in a little while now. I don't really like prediction markets. I think that prediction markets will have about the same effect in crypto as meme coin launchpads. I was talking to Campster today just just briefly in the uh

Discord about, you know, meme coin launchpads and he was saying like 96% of people have lost money with them. Of course, they have. It's It is gambling. You're just rolling the dice. As a matter of fact, gambling probably has much better odds than picking random meme coins. All right? But anyways, prediction markets kind of give me the same vibe. They give me the same vibe. Um it's kind of like when you get on there, say you were a new person, right? And you had, [music] you know, a small amount of money, $100 to $200, and you hopped on you bought a meme coin. It went up 10x. Your like first or second experience doing it, and then you sold you were smart enough somehow to have enough sense to sell and not hold on. And uh you made a

considerable gain. One of the like worst things that could happen to you, just like a gambler who gambles and has beginner's luck and makes a bunch of money, then they're hooked. Then they go back with all of their gains and lose all of it. It's usually how that works. Anyways, Rain prediction markets, I'm not going to spend a lot of time on it. Siren. Ah, it's always the projects that I'm just like this thing is goofy and I have no idea why anybody would care, but they must do something right with their marketing because for some reason, I don't know, people people tend to care about it, huh? All right, CoinGecko is upgraded a little bit. Now we can directly pull TradingView charts right into CoinGecko. I know they would have them sometime, but there's literally a TradingView button,

a Gecko terminal button. That's kind of cool. And so here you are on the 1-hour. I'd actually like to see it more on like the 4-hour. There you go. Geez, this thing doesn't look so great. Let's go [music] to the week. Yeah. So I mean, you've mostly been down here around like 5 [music] to 7 cents, and then you had this big move up to $5. My goodness. Talk about a move. All right, but what is it? It's 100 and Wait, this thing has a $1.6 billion market cap. Is that for real? It must be. That's crazy. [music] Uh BNB chain uh why would this have such a big market cap? It looks kind of memish and goofy. About Greek mythology, right? It does look like they finally upgraded their website and put a few things on here. Hot

topic summary. It must produce [music] like It must do something well. You have the rational logic-driven insight and the imagination-inspired innovation. So it's like [music] two different personalities in one. I don't know, they really act like they have a product here, but I I haven't I haven't really seen much. Okay, that just took us to the exact same spot. Let's see, they say they have a crypto assistant. Where's it at? Every time I come to this website, it doesn't do anything. Like I click on it and it does nothing. And that is why I don't understand this at all. I don't know why anybody's hyped about it. Again, you come to a different part of the website, hit dapp, you come to like the same broken link. It doesn't do anything. Says I love all crypto, I hold long-term

and trade. Well, you're certainly in the right place. How did you find the channel? Was it random or you a lifer? You from the lifer community like a lot of us are. I was a lifer long before I ever had a channel. If you don't know who the Crypto Lifer is, I highly encourage you to look him up on YouTube. All right. So what else is trending? Bitcoin, Pudgy Penguins every day, Kaspa, um Somebody commented on one of my videos today says Kaspa has solved the crypto trilemma. And uh I don't think it did. I don't I don't think that's solid advice. Minad, Solana, Hyperliquid, Pi Network, Sisu Inc, ticker proof, right? Cuz what is Sisu Inc? It proves. [music] Uh Backpack, Ethereum, Terra Luna Classic, haven't seen that on the radar in a while, and Pippin. Why do

we go over this all the time? Well, we go over this all the time because it's important to know what people are paying attention to. It can start to build trends, right? You see a lot of the same projects trending, that can tell you something. Or you might find out about a project before it's at a billion-dollar market cap. Ah, that's right. You know what, Batman? I have seen your name in there before. That makes sense. It says I love all Okay, I already read that part. From Crypto Lifer, I'm a lifer for life. You too? Man, it's contagious, isn't it? Long live the lifers. So what do we want to talk about here that's trending as we kick off the show? Usually [music] pick things that I think you may not know about or I think are very

new projects, so we should go over them. Uh Sisu Inc or proof, 58.1 million in market cap, a billion max supply, uh circulating supply 195 million, right? So almost 20% vested here. Ethereum contract, BNB smart chain contract. Tags, categories, zero knowledge, and infrastructure. We talk a lot about zero knowledge here. All right, Sisu Inc develops technology to prove what's real, restoring authenticity on the internet in the age of AI. I like got lost in that one. That was weird. All right, so a bunch of techy document type stuff. SP1 is a zero-knowledge virtual machine, ZK knowledge virtual machine for that matter. Uh that proves the correct execution of a program compiled for the RISC or RISCV architecture. This means it can run and prove programs right in Rust, C++, or C, or any other language that complies with the

RISCV. And we could get into a lot of really techy stuff here. I don't think that's what you want me to do. AI image detection. So Sisu Inc is an applied crypto cryptography company. Trying to deem if this is really worth Oh wow, you can make it pink. Great. Um over the past year, AI has made it possible to generate text images, so they want to be able to prove authenticity. Okay, so it's all about proving authenticity of what's real. That makes sense. I thought there would be a little bit more like depth to that to this project. Doesn't really seem like it. It seems like it's really just for >> [music] >> um looking at things generated by AI and telling what is authentic. That's cool. I mean, it's definitely necessary. Oh, and then I wanted to show

wanted to show what happened on the chart here a little bit. I mean, it's been down-trending for a while. Let's go to the year or max chart would be even better. Token generation event, August 4th, 2025. And then it had a big push up to $1.59, and it's been pretty much downhill from there. But if you zoom in and ignore all the rest of that price action, uh you'll see it bounced from like a low of 24 cents up to 31 cents. It's a nice move, but in the bigger picture, when you zoom out, it's not much, right? It's not much at all. So I can see the use case. I can see where it might be needed. They're going to need to market and integrate and somehow bring money in to really be relevant. Backpack, again, had a

token generation event a couple of days ago. You'll see the max chart doesn't look much different than the 7-day chart or at all. 27 cents it came out, token generation event March 23rd, today is the 25th, so 2 days ago, 2026, and it's pretty much been downhill from there. It's been losing money quick. Let's do market cap, see what it came out with. About 68.6 million in market cap when it came out. [music] And now it's already down to 44.8. So it's lost quite a bit. Let's see, what is it up in the last 24 hours? >> [music] >> It's not, down almost 8%, 7.5%. And they call themselves an exchange. I thought the product looked okay. Like it didn't look amazing, but it looked all right. And they have your typical things, spot, futures, lend, a vault. If

you go to more, there's even more things that they have going on here. An affiliate program. All of that good stuff. Campster says most of us here watch The Life Fur. You're in good company. Absolutely, yeah. Almost everybody in my community is a Life Fur. Very few people were not Life Furs first. And a lot of it's because The Life Fur is awesome and he shouted me out a couple of times. Um and pulled up my YouTube a couple of times. That might even be how you found me. >> [music] >> And that was really awesome of it. He's a great man. All right. And we'll pop over to the Fear & Greed Index. Now, as you know, Sam doesn't go to Crypto Rank for the Fear & Greed Index since we're speaking about The Life Fur. >> [music]

>> And I used to use the one that he uses and I still do, but I used to cross-check it every day against this one and they were always exactly the same. So, after about 3 weeks of doing that, I quit doing it and just assumed that this one's the same cuz I've never seen it any different. So, for all intent purposes, I think that they literally pull it from the same place. Anyways, it's at 10. Thank goodness. I hate when it goes up and crypto pumps because then I feel like I'm missing out. I get FOMO. Who wants to have FOMO? I'm just kidding. I would love for it to go up. Cuz my bags are pretty packed. They really did a great job of making sure none of us really knew when to get out of the

market for the for your long-term holders. The Ocoin Index, which I love to pair with the Fear & Greed Index, is down a hair to 49 from 50 from yesterday. And to me it just says it's indecisive, rather we're moving towards altcoin season or back to strengthening, you know, Bitcoin or Bitcoin season. We don't really know yet. So, we're just hanging out in the meantime. Are we at the bottom of a bear market? Are we just kind of in a lull in the bear market before we go lower? Maybe dead cat bounce. Some people would use that kind of terminology. That is all yet to be seen. So, it's making it the top 20 and not the top 10. And let's talk about it. Now, usually when we're going over what's trending, it's what's interesting, what seems [music] to

really matter, and then of course anything new that I have no idea what it is, we're going to check that out. Katana, we've been over Katana many times, but it's been [music] a couple of days since I clicked on it. So, I at least want to read you a description. Katana Network is a DeFi first layer two blockchain built on Polygon's Aggre Layer designed to unify liquidity and drive sustainable [music] yield. It's very much financial. I said I was just going to read the description, but I do want to show you the website. Decline all the cookies. So, it's all about liquidity. Deeper liquidity, better execution. >> [music] >> Um all the verbage and everything on here is about DeFi, liquidity, cross, you know, chains, interoperability, stuff like that. And let's enter the dapp because it's always better to

look at the web three [music] application than to just simply look at the web two, you know, website. So, here you go. You got discover where you can check a lot of different things out. They have different vaults. You can kind of see what's going on in their ecosystem. You have earn, which I assume is where vaults and staking would happen. Uh Katana perps is live. So, you can now also trade perps. We are seeing a lot of integration of like everything together in a lot of platforms. Okay, I hate when they do this. I'm like, "Go away so I can show off your product." Um they're not going to let me and I'm not just going to connect my wallet to it because I have my wallet connected to too many things already. So, you can stake. They

have quests, which I'm sure like follow all of our people on Twitter, right? That's that's usually how that goes. And then they have perpetuals, too, which same thing, they're not going to let me see it. Uh there's no point in really going ham on that. It looks like every decentralized exchange you've ever looked at. I can kind of see it behind the image there. It's a chart with a long and, you know, short button, some leverage. It's exactly what you would expect it to be. Did I like close out of it? No, here we are. Chris Goss in the house. Uh Campster says make sure you join the Discord. We live trade in bankroll TA. Yeah, uh that man you probably you you probably like that >> [music] >> group of people there. Um The Life Fur, his chats

are busy in his Discord. Great people over there, of course. Not saying nothing about that. But it's a smaller group of people. You might like them. You might want to trade with them. You can check it out. It's a tab in our Discord. All right. So, [music] Bitlayer Fabric Protocol and Bitlight, we went over quite a few of those yesterday. Um I've [music] talked tons about them. Now, if you see something in this list and I don't mention it or don't go into enough detail and you don't know what it is, just drop it in the chat. I'll be glad to look it up. Really any project you want me to look at, drop it in the chat. We're a small channel. Take advantage of the fact that we're a small channel and I'll be more than glad to

deep dive or give you my opinion on just about anything, right? Um here's that Pro way, which we did a tiny bit of airdrop stuff for. I don't know how late we were to the party, but um NW says that they already did the snapshot for that airdrop. Yes, we do some airdrop stuff here. We're working on it, right? Right now, I think I have the most faith in, say, the Robinhood testnet, but we'll see how that turns out. So, you got Bitlight Labs, Superform, Nexera, Bedrock, Centrifuge, the Pro way, previously Kiva AI. And we've done quite a bit with this project. On one stream. We haven't done it like a bunch of streams in a row, but we definitely have done it. And if you remember, there were all kinds of these tasks [music] that you had to

do. It started off confusing, but we got the hang of it as we went along. If anybody remembers. >> [snorts] >> All right. DYDX, which is actually in the Cosmos ecosystem, Monad, Siren, Bittensor, Fat, Zama, Backpack, XPLA or Plasma, stablecoin rails, layer one, Athena, and Bitcoin. I don't really see anything here besides like maybe the Pro way that we really need to go over. We haven't been bombarded with new projects constantly like we are a lot of times in uh you know, when things heat up and move a little bit more towards an altcoin season. Now, let me tell you a short story about some crypto, right? What a shame. Finished the coffee. All right, here we are. So, most blockchains are built around the same idea. If you've been following along and you come to the stream every

day, you know that Monday we talked about Ethereum. Tuesday we talked about Solana. Monday we talked about how Ethereum is the core. And then we talked about the next day Solana, how Solana was really created to be everything that everybody disliked about Ethereum, they were going to do well. So, they're very kind of polar opposites of blockchains, although probably very few people stop to really think about that. One, Ethereum prioritizes decentralization and security, where Solana really prioritizes userability and speed. Now, we're going to talk about Cosmos. So, most blockchains are built around the same idea. One system, many applications. Everything shares the same space. That means every app is competing for resources. Block space becomes scarce, fees increase, and applications are forced to operate within the constraint of a shared system. But Cosmos approached [music] this completely different. And

that's what we're really here to talk about tonight. Instead of asking how to fit more applications onto a chain, it asked different [music] questions like, "What if every application had its own blockchain?" Imagine using decentralized exchanges that [music] didn't share space with anything else. Or a game that had its own chain. Or a financial system built entirely on its own infrastructure. No no competition for block space and no congestion for unrelated apps. Full control over how the system operates. This is the idea behind Cosmos. Is each application can operate as its own independent [music] chain. But independency creates another problem. How do these chains communicate? That's where the interconnected blockchain commander system uh comes in. The IBC allows different blockchains to connect and transfer data between others. Instead of one chain doing everything, you get a network of chains

working together. Seems very modular, if you ask me. Which we've been talking a lot about things like integrations in blockchain techno- blockchain technology such as zero knowledge proofs and roll-ups. Um there's all kinds of things that have been going on in modularity versus the original concept of monolithic is something [music] that we see coming down the pipeline and being integrated all over the place. Shout-out to Espresso. Instead of one chain doing everything, you get networks of chains working together. This creates a different kind of ecosystem. [music] Not a single system, but a network of sovereign systems. Each one optimized for its own purpose, each one connected to to [music] the other. And Cosmos isn't trying to scale one blockchain, it's trying to scale an entire network of blockchains. Which, another thing we talk about constantly over on the channel

is how scalability and security, privacy if you will, are still the biggest hurdles or things that people, projects are working towards here in the space, I would keep that in mind. All right, we'll get our regular talking points ready here. And we will move on and talk about the Cosmos ecosystem. So, I started off of course in the Cosmos ecosystem over on CoinGecko. I thought that would be the most relevant. Blues guy. I didn't know if you were coming. In the house, greetings everybody. Sorry I'm late. Would never miss. Underground, my man, great to see you. Ola, thanks for being here, man. Uh man, I so love the deep dives and talking points. IQ, right? This channel is off the charts. If you like learning and having fun, Underground Crypto is a man, welcome in the house. All right,

thank you for saying all that. Thank you for being here and thank you for the enthusiasm. Uh Flare still number 85 by market cap. So, of course you have Cosmos Hub or Atom. [music] And I think that's really the first thing you got to talk about here. 882 .8 million in market cap. Not a small market cap, but not quite as big as I would hope for for say like the main hub of the entire ecosystem. A dollar 76. And everything in crypto has been beat down quite a bit. So, I certainly am not making this all about what the price of everything is. [music] That's a little uh you know, intellectually dishonest if you would. So, price about 275 February 23rd, 2019. And if you scroll down here, it'll give you your highs and lows. All-time high was

$43.84. That was in 2021. Can it ever reach those heights again? I don't know. Very interoperable, though. BNB, Mantra, Archway, Kava, Terra, uh Canto, Osmosis, and of course [music] uh Evmos. Which, Evmos maybe it's supposed to be, I don't know. I'm going to I'm going to be honest with you. I'm thoroughly looking forward to deep diving this ecosystem because [music] I don't know a ton about Cosmos. Of course, I know Atom. And the number one thing I know about Atom >> [music] >> is that if you stake there, they have really good returns, like 12%. Some people say if you combine it in other places, you can get up to like 18%. Needed those electrolytes. All right. So, here's a simple I have [music] more complicated images, you know, of the ecosystem. But, let's start with the simple version

of the ecosystem, if I can find it. >> [music] >> Where'd it go? All right, here we are. So, you have the Cosmos Hub and this Evmos, which is like, you know, I assume I assume EV like usually when we see like EVM, it's, you know, Ethereum Virtual Machine. Um is this Ethereum Virtual Machine Osmosis system? I mean, I'm guessing here, but that sounds like it could be right. Anyways, you have the Evmos, the D E smosis, [music] the Desmosis, right? KAI Chain, Fetch.ai, IRIS, um Umee, Chronos, Stargaze, Juno, Persistence, Terra, Regen, Akash, which we've seen trending a lot lately. Of course, Osmosis, [music] Injective, Neutron, Archway, and Kava. And I've heard of Kava quite a bit, but I don't really know what it is. I have a lot to learn to tonight, and [music] that's why I was

excited when I was thinking, you know, where do we go from Solana? We did Ethereum. Of course, you got to start with Ethereum if you're talking about ecosystems. Just makes sense. Then under that, just made sense to go to Solana with the fact, the stark difference between >> [music] >> Ethereum and what they prioritize, and then the later Solana coming about, and them really wanting to prove that they could do everything that everybody was mad that Ethereum wasn't doing well. High fees, slowness in network, stuff like that. Userability. So, let's move into this Atom Hub here. cosmos.network, the website. We'll go there in just a minute. Uh lots of tags, layer zero, proof of stake. I don't usually read the whole portfolios and indexes, governance. It is in the Coinbase 50 index. That's interesting. Infinite max supply, circulating supply

499.9 million. Let's go to the website. Blues guy says Cosmos is huge. It absolutely is. Just like Ethereum, we didn't have time to go through every Ethereum project. Just like Solana, we're going to integrate this into our regular show. It's going to look a little different. This week, we're just doing ecosystems. And we still have our talking points in our stories, but we will be foking focusing mostly on ecosystems. All right, resilient, secure, performant digital leader technology. Our customers drive revenue and market shares while staying secure and compliant. See how you can, too. Schedule consultation. Uh this website feels like it's very much centered towards like maybe um bigger companies. Because who would schedule a consultation with Cosmos? It wouldn't be me or you. I'll tell you that much. Not normally. So, let's go. We'll get the technology. Right?

What sets it apart? So, the Cosmos blockchain stack. The Cosmos stack is the most widely adopted and battle-tested layer one blockchain technology stack. It's a bold claim. In production with 200 plus chains today. It is performant, customizable, and EVM compatible for complete control over infrastructure access and data security. Now, every time I do see projects and the language around them, this is a big takeaway is how much control you have building on the Cosmos ecosystem. That's one of the things that actually gets me excited about the Cosmos ecosystem. I just never really taken the time to go through it the way that I should. And that's why we deep dive together, and this show keeps me accountable to do this every day. Tailor a chain to your compliance, performance, and functionality needs. I mean, with this language, who do

you think they're really speaking to? People who would be building projects and teams. [music] You know what I mean? People with probably some dough behind it. So, build an institutional grade layer one blockchain. Of course, institutions, this is very much aimed towards. So, they have Ripple for payments. There you go. Build a consortium blockchain. Build a permissionless blockchain consortium. Run exclusive by your partners. And they have this uh Prag, Pragmat for payments. Japanese banking consortium uses Cosmos to replace outdated payment networks with faster infrastructure. Okay, that's interesting cuz a lot of times with the Japanese banking, you always hear about Ripple, but it looks like this Pragmat [music] or Pragmat. I I want to make that an N, but I don't think it's supposed to be. Pragmat. I think that's supposed to be an M. >> [music] >> I

don't know, they're messing with me. It seems like a It almost looks seems like a developer's joke or something like that. Test and prove with a proof of concept. Quickly spin up a proof of concept private blockchain with a full feature set. And it uses Ondo. Pragmat. It is supposed to be an M. I was right. Uh Japan's banking consortium uses Cosmos. Yeah, they already said that. Tokenization with Ondo. So, right here, what do you see? Ripple, Pragmat, Ondo. Very much tied into the main layer of Cosmos. [music] And like I always say, even with a low turnout tonight, I'm going to be doing this regardless. I want to know about Cosmos, and I think a lot of people, especially in bear markets, they run away. And then they come back, and then they wonder why they can't keep

up with the space and make the right moves. I think it's because they didn't put the work in, and they don't know what they're talking about. They're just throwing money around cuz they didn't want to put in the effort. So, shout out to all the undergrounders who are here tonight. Ethereum layer two or Cosmos layer one. >> [music] >> Sounds interesting. Cosmos layer ones and Ethereum layer twos are two ways to build a blockchain. Looking for an Ethereum layer two alternative, the Cosmos stack is in production with 200 plus chains today. It gives you performant, customizable EVM composability. Yeah, we we kind of already read that. I wouldn't be too repetitive here. Uh solutions. You know your business. Now, this website is very much directed to um business and getting them to understand why they [music] need Cosmos. So,

we'll back off of this a little bit. We have plenty to go over here. And just out of curiosity, I'd like to know how many followers Cosmos has over on Twitter. All right, 561,000. That's exactly what I would expect. Says hello, Mr. Blues. I want to know about it, too, my man. Hey, hey, that's why we're here. Uh we would be very grateful if all crypto enthusiasts would please press that like button, subscribe, and join the Discord. Follow yours truly over on Twitter. I would appreciate that. In W in the house, I was just talking about you, brother. Welcome in. Welcome in. So, underground, you are not alone. All right, well, then let's get it. Obviously, we have to start with Cosmos here. So, 561,000 followers, that's all I really wanted to see. When we have so much to

get through, I got to try not to get so hung up on one thing or the other. Let's keep going. Injective. Now, >> [music] >> if you've heard about anything in the Cosmos ecosystem, Injective is probably the project that you've heard of. Um 306.7 million in its market cap. Ethereum contracts, Terra, Osmos, Secret, and BNB. Secret is one I would like to know a lot more about. Um Blues guy, dig us up some things about Secret, would you? Cuz I want to touch on that again, cuz there's projects, and they'll have like a secret um contract address, and then it makes it really confusing like what they actually are. Uh we got one night we spent a little bit of time on it, and I had some answers, but then I almost had more questions. Anyways, Injective is a

layer one, real world [music] asset, Binance launchpad, proof of stake, YSI Labs affiliated, made in the US, Coinbase 50 index, DeFi. Those are the categories that we're getting here. A lot of categories. And let's go to like their main website here. I mean, immediately you think of Injective, right? >> [music] >> What are the main things in a ecosystem that you need? You have the blockchain itself, but then you need infrastructure. And the main thing about infrastructure is liquidity. And what do you inject into an ecosystem? [music] Liquidity. So, I'm going to say that this probably has a lot to do with liquidity. The future starts here. The public [music] Injective Ethereum virtual machine mainnet is now live. Wonder how old that is. [music] I mean, hasn't it been live for a long time? The blockchain built for finance.

There you go. Plug-in play modules, dynamic smart contracts, works with the best, lightning fast, low cost, multi virtual machine. Uh he says, "Cosmos is dead, slowly rugging itself to death." In W, I've heard that take before. Uh I'm not going to argue with you on it because I'm very much here to learn a little bit more about Cosmos and its ecosystem. Uh there's so much in crypto to get get into. I never really found myself over on Cosmos a lot. Now, I will say that it pops up here and there, but for the most part, you really don't hear that much about it. Competitors like Base and things like that seem to have um >> [music] >> that new car smell kind of effect right now. But what I want to know is why. Why are they failing? Is

it the core beliefs? Is it marketing teams? Is lack of developers? Developers went other places because of a lack of opportunity? Like what is it? Tell us, In W, what is your take [music] on it? Why is uh Cosmos ecosystem slowly rugging itself to death? I'd like to hear your take. Uh Blues guy wants to know how so. I guess I do, too, cuz I guess I just asked the same question. All right. So, here's what Blues guy has for Secret Network. It is a layer [music] one featuring privacy-preserving smart contracts. Okay, with a name like Secret, I knew it was privacy, where unlike public chains, inputs and outputs and state are encrypted by default. Okay. He says, "Every protocol on Cosmos [music] has left, shut down, or dying. They had such a good thing, and then they Blackberry'd

themselves." Yo, will you expand on that a little bit about Blackberrying themselves? What exactly does that mean to you? All right. Native Network, Secret Network, Cosmos base. Okay. So, again, here's Injective, and kickstart a better financial future. Now, I do know that Cosmos ecosystem is not in the pinnacle or the peak of [music] its ecosystem, right? But I still wanted to give it a fair shake, and I still wanted to talk about it so that we could talk about maybe if there's anything left here. Is there a hope of redemption for Cosmos? I don't know. So, TIA is definitely a newer project comparatively to a lot of things in Cosmos, right? 2023 October 30th, it says. Maybe it's not as new as I thought, or maybe time just flies. Cuz I swear I bought some of this when it

first came out. Um it went way up. I thought, "This is great. It's going to keep going up." And then it came down, and I sold it for gains, but not as much as I could have had, right? I think I bought it mostly around Wow, this thing has fallen a lot. Wow, what did I Yeah, I think I bought mine originally around like $3. I think it was three to four dollars. Yeah, so I bought it like down here. So, yeah, I must have bought it like in 2023. And then it went to 20 bucks. I remember that, seeing it almost hit $20. Oh, it did hit $20. I remember it being around like 19 and 1/2 dollars, and then I sold it. I think I sold it around like $15 when I realized it was down, and

it [music] was probably not going back up. Anyways, TIA, uh 294.9 million in market cap. Again, Secret. This is where me trying to figure out what the heck Secret was started. It started with TIA. Now, it makes a lot more sense, right? Now, it makes [music] a lot more sense. >> [snorts] >> All right. He says, uh "Sorry. Yeah, please learn. Just been around the blockchain." Oh, dude, In W, we welcome we welcome everything you have to say, for sure. Um I just wanted to know more about uh why they're failing, right? Is it developers? Is it Why is it Why is everybody leaving? That's what I wanted to know. Uh you're welcome to put your opinion in. You can't hurt my feelings, guys. I'll tell you that much. All right. Sorry. Yep, just been around the blockchain, giving

my two cents, making sure everybody gets fooled. The foundation didn't support its projects. There you go. Okay. Hey, that makes sense, and if they did that, that sucks. Uh Blues guy says, "Atom is struggling due to a combination of internal governance conflicts, lack of strong fee generation model for the hub, intense competition in the interoperability space, yep, and capital in BTC." In W, bro, you didn't come across as being argumentative at all. At all, dude. Not at all. Uh I was just asking questions because I know that you've been around so much. Like you've you've helped us with a lot of things. Uh and I just wanted to kind of pick your brain about it. I didn't take it as an argument. All right. So, that's Celestia. DYDX. Uh 74.1 million in market cap. It is a decentralized exchange.

We just looked at it the other day. Perpetuals layer one application. The actual app looks pretty all right. Apparently, they're not available in my region. I guess I would have to use a VPN. But anyways, it looks like everything you think it was. This thing has been out much longer than the craze of all the decentralized exchanges you've seen pop up. This thing's been around much longer than that. Let's see. How long ago do we actually get to go back here? Looks like 2023. Yeah, that sounds about right. I do remember kind of when this thing came out. I think it was earlier than that, though. Of course, they have a good variety of coins to trade. But as In W said, it does seem like a lot of uh Cosmos has been dying out. Mantra, the old one.

Do they have the new one? Let's scroll down. Do we get to see Mantra again? No, you don't even see it. Um Okay. The weird things that Mantra has done lately. When Mantra moved contracts, did they move off of Cosmos? Maybe In W would know. In W might know about [music] that. When um Mantra switched contracts from O to Mantra, did they also move off of the Cosmos ecosystem? Uh the ecosystem has been declining users, interest, and developers. Yeah, leave key developers leaving. Exactly. Leading to strong sell sentiment and low prices. Yeah, and then of course, he's backing up. Yep, you are welcome here. Absolutely. And then of course, there's Secret, which is probably one I'll spend a little bit more time on. Blues guy says, "You're actually really knowledgeable, bro." Oh, yeah, In W's got got the sauce,

man. I I am glad that he comes to the stream. >> [music] >> Might not have all the people, but we really do have the right people. Anyway, Secret, number 700 by market cap, 26.8 million in market [music] cap, infinite max supply, not my favorite. It's all about privacy, for sure. It's got AI infrastructure layer one. Let's go look at their actual website. Experience the future of private AI. Build secure AI and privacy-first infrastructure. Top Secret Networks, confidential computing. So, it's about privacy, right? Secret Network is the first mainnet blockchain [music] with privacy-preserving smart contracts, launched in 2020. This makes it possible to build apps that are decentralized and permissionless, yet private. Privacy persevering smart contracts with end-to-end encryption. So, that's obviously what they set out to do. It does seem like they built some infrastructure, but it doesn't

seem like the ecosystem is necessarily supporting it all. Uh he says, "Always here to share." I believe it went EVM. I didn't follow up on it. I mean, they've talked quite a bit when we were on the Atom Hub and stuff like that about EVM, so yeah, it must be very virtual machine. Is that a plus? Is that something that came in later? I'm not exactly sure. I'm here to learn and soak everything. Let's go. Absolutely. Now, I want to go to ChatGPT and ask a question about Cosmos. Actually, I don't need to do that. The cryptocurrency Atom or the Cosmos ecosystem seems to have been in decline lately. Can you lay out the reasons and historical timeline [music] of why the Cosmos ecosystem has been on the decline with developers were there issues between What's the word I'm

looking for? Foundation. Of course, as soon as I between developers in the foundation. Of course, it never voices perfect here. What am I doing? Whatever. Close enough. Let's see what it says. Uh yeah, Cosmos has pivoted its strategy to embrace sovereign EVM chains while halting plans for a native EVM on the core Cosmos Hub as of mid-2025. That was like a million years ago. All right. So, it says you're not imagining it. There has been a real decline in developer momentum, narrative strength on Cosmos. Hey, and this is why we uh you know, I will often talk about the deep dives, the show in general, raising your crypto IQ, how it could make you a better speculator. This deep dive here might keep you from buying into some kind of project on Cosmos if they're in a in a

decline. So, timeline of Cosmos decline, simplified but accurate. I'm going to take their word for it. From 2017 to 2020, the vision era had a strong start, right? Cosmos launched with big ideas, internet of blockchains, Core Tech, the Cosmos SDK, build your own chain, right? And the Tendermint consensus. Early narrative, app chains will beat monolithic chains like Ethereum. Reality developers love the freedom. So, that was what they did well at that point, I guess. 2021, peak hype. The inter-blockchain communication. It launches, right? In 2021. The ecosystem explodes with Osmosis, Terra, Secret, etc. etc. And Atom hits an all-time high. >> [snorts] >> One thing I do know is that Atom gives out a pretty high yield, and I'm wondering if that's hurt them over time and not left them enough money to give to the right people, right? Developers

and stuff. But, hidden issues begin. App chains don't need Atom. Value disconnect starts [music] forming. Okay, this is interesting. Terra collapses. Okay, well, we all know about that. Collapse of Terra, a Cosmos-based chain. Um oh, wait, this is Terra, not Terra Luna. Whoops. All right, never mind. Massive credibility hit. Also, market enters bear phase, funding dries up. Yeah, bear markets have a [music] tendency to break things, but also, they test the market for its weak points. And sometimes, it sucks when the weak points are something that you liked. This is where cracks begin showing publicly. In 2023, internal conflicts and identity crisis, which is never good. Governments governance fight intensifies, debate over Atom tokenomics, inflation reduction in the role of Cosmos Hub. Political infighting slows development. Community starts, "What is Atom actually for?" 2024 native loss plus competition. [music]

Ethereum L2s explode. So, then, you know, at the same time that this was going on, uh good things were going on in other places that really took away the attention. Solana gains dev traction. Modular stacks, Celestia, rollups compete directly with Cosmos's vision, right? So, meanwhile, Cosmos is still fragmented, no unified liquidity or [music] UX. 2025, project shutdown wave. And this must be what NW [music] is talking about. And why I value him so much here in the community cuz he just pointed us in the right direction [music] of what we should be talking about tonight. Multiple Cosmos shutdowns, [music] uh this Comdex, Kujira, uh Evmos. So, Evmos is shut down. We saw that on the on the list here. Uh not that [music] list, this list. Right? We saw this Evmos, and it seems like that's actually shut down.

So, that's good [music] to know. Uh causes are low revenue, low users, and devs leaving. Ecosystem starts shrinking. 2025 to 2026, >> [music] >> crisis phase. Atom down 70 to 90% from the highs, major issues [music] become undeniable. Key events, Cosmos admits interchain security failed product marker market fit. Uh tokenomics redesign proposed. >> [music] >> Core contributors warn ecosystem is pretty much dead, which is what NW just said. Projects leaving. Noble prepare exit. Osmosis scaling back, others just shutting down completely. [music] Developers interest hits a low. Why developers decline, the real reason. [music] No value capture for Atom. Yeah. This is really interesting. So, this is the number one structural flaw. >> [music] >> Cosmos SDK let you build your own chain, but you didn't need Atom. You don't need to pay Cosmos [music] fees. You create your own

token. So, yeah, it seems like they had a huge issue with ecosystem [music] and the way that the ecosystem flowed, it didn't share value back to the central Atom, [music] right? The central hub. It seems like you could just build off of it and do your own thing, and then you didn't really need anything else. You [music] want to have the interconnectedness in a chain and good ecosystem balance. You can't allow, you know, people to just come in and build something, and then they have no need to be a part of the rest [music] of the ecosystem. That is a huge flaw. So, result, ecosystem grows, Atom gets [music] nothing from it. Application chains became fat, and Atom stayed lean. So, all the value went out to all the things people were building, and Atom itself had no ability

to to benefit from it. That's crazy. This is the opposite of Ethereum. Ethereum, everything flows back to ETH. Exactly. Cosmos value leaks everywhere. So, it's just poor design when it comes to their ecosystem. I see a lot of stuff going on here in the chat. My goodness. Blues guy says, "I'm here to learn and soak everything. Let's go." Well, you're in a good one tonight. Cosmos has pivoted its strategy from embrace sovereign EVM chains while halting plans for a native Okay, I read that. As of mid-2025 the other day, lol. Exactly. Crypto moves fast. And one needs to be quick and update every day for the need of today. Companies need to stay ready and on top of their projects in order to compete with new projects that are off better. Yeah. Sounds stressful. Uh yeah, I forgot the

founder left and forked Atom. That was a big break. Okay, I'm going to I'm going to hopefully they tell us about that, but if not, I'm going to be asking about that. Atom has recently tested multi-year lows around $2.10, showing significant prices struggles compared to its early performance. All right. Well, is it going to do the bounce back like Solana did from like $20? I don't know. See, the thing was, Solana was hurt very heavily because of the news cycle and everything that was going on with FTX, I feel like. Atom is not in that vein. It's more like they're actual problems inside the ecosystem that are hurting it. I don't know if you're going to get that bounce back, right? But, who knows? If they're smart, they're going to do something, right? They'll do something to save their

hide. And uh if they do it well, it doesn't have to be amazing. It doesn't mean they have to go back to the heights they were at before, but you could get a [music] short pop in it if there's some good news. Basically, what they need to do is what Ethereum does, have all the all of the value run back into Ethereum. That would be the way to go. App chain model is expensive and hard. Yeah. Yeah. That see, we've talked so much about scaling and the way blockchain works different um consensus, you know, proof of stake, proof of work, proof of liquidity. All There's all kinds of weird variations of it. We've talked about a lot of it. And um yeah, having everything We talked a lot about state, memory, how expensive it is to maintain. And then

like the more you have everybody just making all these chains, it seems like it would be pretty hard. Anyways, it says everybody running their own blockchain uh is expensive. Need validator security and infrastructure. Hard for small teams. Costs far exceed expectations. Devs prefer Ethereum layer two, Solana, and rollups. They're just cheaper and easier. Fragmentation and liquidity problems. Cosmos chains are independent. They're isolated liquidity pools. That's never good. You want your liquidity to be as interconnected and flowing as possible. Think of water, right? You want to go swimming, but all you have is a bunch of puddles. You don't want You don't want that. You want a lake. Or a swimming pool, for that matter. Probably a better metaphor for puddles to a swimming pool than puddles to a lake. But whatever, you get what I'm saying. You want it

all [music] connected. Even with IBC, UX is clunky and liquidity is fragmented compared to Ethereum and Solana. Composability and unified [music] liquidity. Yeah, they've their competitors have just done a much better job. This hurts users, developers, and growth loop. And a weak product market fit. [music] This is critical. It says, "Cosmos built powerful infrastructure, but most apps didn't need that level of control. It was overkill for simple DeFi and NFT projects." Okay, so it was like too easy. Anybody ever done this where you download a program or a software for editing anything from photos to videos to music, right? A lot of people probably with the music, right? What you needed was like, you know, a simple program to manipulate volume levels and maybe pitch. Maybe you were doing a video podcast or something like that. But you got

in there and you had like uh state you know, like a state-of-the-line production app with so many bells and whistles that it left you like absolutely lost as to where to even start or how to even do the simple thing that you were trying to do, right? You almost had to watch a bunch of videos to figure that part out. That's what it sounds like here, right? It sounds like they gave so much option and control that it was like people didn't need that. Overkill for simple DeFi and NFT apps, right? [music] Selling tractors in a toy store analogy. Builders moved to easier stacks, right? And then of course they touched on the governance drama. Hopefully they're going to talk about like the founder leaving. Uh yeah, yep. Included founder disagreements, inflation debate, a fork threat, which I guess

happened. Accusation towards Interchain Foundation. Criticized for opaque fund management. Uh and we talked about that. Weak developer support. Also, tension between Cosmos [music] Lab, the community, and validators resulted in slow execution. Yeah, when the validators aren't working, you don't have much of a network at that point. So the funding shift hurt builders. Focus on Atom value capture. So the recent shift here, focus on Atom value capture, less focus on broad ecosystem support. Funding redirected away from ecosystem growth. Builders felt abandoned. Yeah. I mean, it's really hard when you already stepped into it and you already have this big thing running and then now you need to fix it. That That's a problem. Tokenomics, inflation trap. Atom relies heavily on high inflation. Okay. Of 10%. Maybe that's why they give away uh you know, 12% yields because a lot of

it might just be inflation. Dilutes holders. Not backed by real demand. Community criticism. No real demand, no value capture. Unsustainable long-term. Well, I'm kind of glad that I never got involved in anything in the uh Cosmos ecosystem, right? But don't worry, I got involved in plenty of other things that didn't turn out all that great. And some that did. Between 2023 to 2026, the winners are Ethereum, Solana, and modular stacks like Celestia. Sounds like Celestia was one of the only things [music] that did well in this ecosystem. All right. Now it's just kind of being a little repetitive. Cosmos didn't fail because of one mistake. It failed because it optimized for sovereignty over network effect, which means great for infrastructure, bad for liquidity, and token value. Uh ch- ch- Yeah, no, I don't I don't need scripts. I ChatGPT

always be trying to do way too much. I just ask it a question. It's like, "Would you like me to script a video?" And I'm like, "No." Why does it even offer me that? I've never had it really script a video for me before. Very weird. But that's ChatGPT for you. He's trying to prove that he's useful. All right. What do we got going on here? Atom was recently tested multi-year lows. Yeah, we talked about that. So still had traders uh degening. Cosmos has nobody using it. Well, there you go. And then Blues guy says uh Jae Kwon has effectively left the core development of the main Cosmos Hub project. A transition that began around 2020 and culminated in him splitting and pursuing a fork of the project Atom One in 2023. So it's Let's go with that real

quick. I'm have to type his name in because I can [music] never expect the voice thing to actually give it. Forked Atom to a project called Atom One in 2023. Comma, how has that been going? Are there any updates about that that are significant? Include links that you find that are relevant. And this is how you use ChatGPT to do some research. I tell you [music] that much. Everybody mad at ChatGPT or just AI in general. Um People tripping, that's for sure. In all fairness, staking Atom tokens would have got you 20,000 in TIA airdrops, 10K in uh Dimension airdrops, and 5K in Saga airdrops. Then it all went to Well, if If you got those airdrops, I hope you sold them. Otherwise, I guess it wasn't that meaningful, right? All right. There have been meaningful updates around this

Jae Kwon guy. They matter because they help explain why Cosmos governance became so fractured and why builders lost confidence. The short version is Jae didn't just leave and complain. He continued to shape the anti-establishment [music] anti-current hub narrative though through Atom One. Governance criticism, tokenomic opposition. So he was very much not happy with what they were doing. And as a developer in the core team, [music] he probably had some stake and reason to be upset with it. Like he wasn't just on the outside throwing rocks. He was probably on the inside frustrated with what was going on and what [music] he was getting from other people, right? And I don't know, I'm just speculating here. So he splits with the Cosmos Hub, becomes with the Cosmos Hub became real infrastructure, not just drama. The major turning point was when

Jae moved to criticizing Cosmos Hub direction to actively backing an alternative path. I like the guy a little bit. I mean, he wasn't just throwing rocks, but he actually had a plan and he was going to do something about it. I mess with that. That's my kind of people. I don't know what kind of person he is, but I mean his actions tell me he wasn't just a loudmouth. He pushed the idea of Cosmos Hub had drifted too far from its original mission. And then he supported the launchpad towards GovGen and Atom One, officially creating an ideology and governance fork of the Cosmos [music] Hub vision. Why this matters. This was not just founder noise. [music] It signaled developers and long-term or long-time Cosmos participants that the original founder no longer trusted the Hub's direction. The ecosystem's North Star

was contested. Yeah, we get the point here. Uh that was toxic for builders, of course. Relevant links. So the block, Gov. So this is Atom One. Weak community initiative. All right. We might come back to that. We might not cuz that was 2023. We're in this is 3 years later. Did they give up? Did it work? Did they make something else? I'm not too sure. But boy, we are sure figuring out a lot about Cosmos [music] and Atom ecosystem tonight. I didn't know all this stuff. So this is really cool to me. I love learning new things. Um I love to be able to to give somebody some insight if they ask me about Cosmos and the ecosystem. >> [music] >> Now I know a lot more. The 2023 Atom inflation vote was one of the most important breaking

points. A huge flash point was the Cosmos Hub governance proposal that capped Atom's inflation at 10%. Jae strongly opposed it. And after it passed, he escalated towards Atom One fork. Okay, let's stop being a little [music] so repetitive here. And Okay, so he kept pushing the narrative of the governance. Yeah, I want to know what's happened since then. Cosmos Okay, don't care about that. It can be a little repetitive sometimes. So where the real No, I don't really care about this. So yes, it's more accurate to call it multi-center power struggle. Okay. All right. They did fail to kind of answer my last question. So what has happened since the fork of Atom 1? What have they built? What has been going on on this Atom 1, the fork? Yep, then it all went Yeah, I said, "Bro, we

would have not discovered all that without you. Glad I could help." Absolutely, man. I am glad that you are here. So, yes, and the short answer is Cosmos 1 did not become the new Cosmos. It became a parallel governance chain. That's it. That's all he did was create a parallel governance chain. Political experiment with some real infrastructure, but nowhere near the real level of ecosystem traction needed to seriously replace the Cosmos Hub. Okay. I mean, it sounded It sounds like it went about as well as Ethereum Classic went to Ethereum, right? Although, Ethereum Classic, I think, went a little bit farther. That said, it has actually launched and is That said, it has actually launched and has built things. So, it's not just vapor or dead meme. The problem is more that it built governance architecture first, not a

killer develop- the developer ecosystem. I mean, I get it. They were mostly hot about governance stuff, so maybe that's what he really focused on. And maybe he just assumed everybody would hop over, all the developers. So, what happened since the Atom 1 fork? Atom 1 actually launched. This is the biggest update people missed. Atom 1 is not [music] just a proposal or an idea anymore. By late 2025, well, that took some time. The project publicly stated that a phase zero launched the chain. So, wait, we went from 2023 to 2025 with nothing? It moved from a constitutional setup and implementation. It began formalizing governance treasury and token mechanisms. [music] Mechanics, whatever. Same thing. So, if someone still thinks Atom 1 is just J threatening to fork Cosmos, that's outdated. What it means is Atom 1 is now live, ideological

governance alternative to Cosmos Hub. Yeah, but who cares if you're an alternative to the being a governance of a dead a dead chain? Like, who cares? What did they actually build? Finally. They built governance-centric chain structure. That sounds pretty useless. Uh the project focus heavily like what? They're going to governance and argue about how they're going to move nothing forward cuz they have nothing? That's what it sounds like to me. Uh living constitution, formal governance rule proposal, treasury logic, separation of roles between validators. And maybe it'll eventually do something, but it sounds like a lot of time has passed. [music] And they didn't sound like they accomplished much of anything. Uh translation in plain English, instead of saying, "Let's just launch another Cosmos chain and go farm total value locked," Adam said, "Let's redesign the hub." Should have been

politically and constitutionally. That's great if they're going to like actually replace it in the original hub, but if not, then what does it matter? Cuz now they have the perfect political and constitutional makeup and then no chain to govern. That's why it feels so normal for crypto forks. They implemented dual token models. This was one of the most important things Atom 1 built conceptually. Atom 1 designed separate [music] a tone and photon for gas and so it was kind of a modular idea. Why did they do this? Yep. His complaint, Atom 1 became too many things at once, taking token, monetary asset, speculative asset, fee asset, and governance asset, right? Atom 1's answer to split those up, modularity. So, they built a governance dapp. Participation in It sounds like they didn't I don't know. This sounds like a mess.

Does this sound like a mess to anybody else? So, you had Cosmos. They didn't like how it was being governed or how it it was being governed, but also what was going on, which was probably, you know, approved directly through the governance. So, they're like, "We'll make a much better governance infrastructure." Now, if you could just rip the old one out and replace it with [music] the new governance infrastructure, that'd be great. Probably would have worked really well. But instead, they just kind of like forked it and had this other thing going on, which doesn't sound like a lot of developers went over to. And they maybe had Maybe they had a genius idea for governance and stuff that maybe it'll be used somewhere else in crypto later down the line and it'll be amazing. But it seems like

now they have the great governance over a nothing chain. So, what chain infrastructure exists around it? There's validators and release infrastructure. This is a real network, not just a manifesto. Okay. So, what is built on it? So, now I want to go try to find it. Let's go try to find this thing. Atom 1. Or a tone. Do we get a an ecosystem? It's a layer one and a layer zero. Let's take a look at the website. A secure A secure community-driven interchain hub. Atom 1 is community-driven, constitutional govern- uh constitutionally governed, right? So, we're getting a lot of this like all about the governance. Blockchain designed to prioritize security, decentralization, innovation within the Cosmos ecosystem, serving as a minimal fork. Okay, so they're considering themselves a minimal fork. So, maybe there's still somehow involved in the ecosystem. With

something that ChatGPT didn't really clear up for me. Uh community-crafted governance. Yeah, governance, governance, governance, right? Dual token model. That part sounded pretty cool. I mean, it's modularity and we know that that's moving towards the future of uh blockchain technology. Single fee token for IBS and ICS, dynamic treasury management. Let's just go to ecosystem. That's what I want to see. Where's all the stuff in the ecosystem? We have Dither is a read-optimized event source messaging protocol. Okay, don't see any value coming from that. >> [music] >> CoinGecko. Okay, don't see any value there. CoinMarketCap, still don't see any value. Osmosis. A decentralized exchange. I mean, what do they do besides just allow you to swap and stuff like that? Okay, you can go from, you know, whatever to a tone. And let's look at the all-time chart for a

tone. Wow. In 2025, October 26th, it had a nice pump from [music] literally 21 cents to $2.75. That's a decent move. I mean, in the all-time chart, its previous all-time high was like $2.18. So, this thing hit a Oh, that's very interesting, actually. So, this thing hit an all-time high >> [music] >> back in October 2026, did it? And now it's back down to 38 cents. I mean, you probably could get this thing lower. I don't know. Why did it have this big move? September 21st to October 26th. Atom 1 had a big price run-up from September 21st, 2025 to October 26th, 2025. Why was this? Let's see what it has to say for this. Of course, it said like Atom-1. That's Okay, at least they got it right down here. In plain English, it looks a lot like

a thin float low liquidity squeeze, attention spike, and tokenomic narrative pump. Then a true market has decided Atom 1 1 move. That doesn't mean nothing happened fundamentally, but the price action massively outran the actual ecosystem progress. That's interesting. The move was way too violent relative to the project's real footprint. It's a good point. So, the public price tracker a tone went from very depressed low in early September to an all-time high around October 1st. It was around like October 26th, but whatever. We won't argue with you, ChatGPT. Then gave most of it back. Well, I think it gave almost all of it back. Yeah, it's a good assessment there. Peaking at around 15 to 17 dollars. I mean, is that what we saw? What? What? Yo, what are they talking about? 15 dollars? All right, let's Let's go back

over here. Uh okay. Let's zoom in on this. 5 dollars [music] and Now, I'm getting I'm getting different prices all over the place. Yo, so ChatGPT was actually right about this time of October 1st versus this chart says Let's make sure we have the same coin here and not that one. Yeah. Yeah, [music] we have the same coin. This is where it starts getting weird, right? So, $2.75. We're on the all-time chart. I don't know how much I trust Osmosis. I don't use Osmosis a lot. But I mean, this says it topped was October 26th at $2.75. I I trust CoinGecko a lot more. And it says it topped out at $5.97 October 1st, which the date lines up with [music] what they told us. Right? October 1st. But then it says then they lose me with $15 to

$17. Uh that That doesn't seem right. So now we'll go consult another aggregator of information here. That's wild. So over on CoinMarketCap the 29th of September, so a day earlier, I might just be a little off and not zoomed in enough. That That could be for sure. No, it does say cuz look, the next day Oh, that's October 6th. So you're on a weekly chart. That part's not as important. But yeah, over here on CoinMarketCap it says that it went to $15. Now, which one Did it go to $15? Was it a wick? You know what I mean? Was it one of those things where it went to really like $5 and something and then it just had like a really high wick up to something crazy. But like it never really stayed there for very long. That would

be my [music] opinion. It's probably what happened. It didn't stay $15 to $17 very long. And again, we're talking about this Atom one or ATOM and [music] not Yo, it's funny they went with a tone. What is atonement? That That's actually really hilarious. Um well done. Yeah. Thin liquidity, bad price discovery is why it pumped. All right, we won't spend too much time on that. All right, but we have learned a lot. I've learned a lot. I can't speak for everybody else, but I know that I've learned a lot here. I'm glad that I showed up today. That's for sure. Now, let's take a couple of seconds here. And let's just talk about some crypto news and stuff. I didn't have anything in particular. Just want to make sure we covered it. Yep. There is no reason anyone needs

to use Cosmos. That's my two cents. And I think you're right. It's BlackBerry now. >> [music] >> There's not even liquidity there. Yeah. Yeah, that's what it seems like. Um Yep, listening. Thank you. Welcome in. Welcome in. This is what I mean. No liquidity on Cosmos. Osmosis is the biggest [music] decks on Atom. There you go. I de- I at least knew that. I did know that Osmosis was the main decks. Uh give me one point, [music] right? Absolutely. Here's a cleaner. Yada yada yada. Just give me the news, right? So backing away from what we were just talking about, pump the brakes. [music] Feel like we got in a little heavy there, but I learned a lot. Bitcoin price stocks rise as [music] dollar weakens. Oil fails or falls. Sorry. Not fails. Didn't fail. Falls. Crypto daybook Americans

as Sounds like some nonsense. >> [music] >> Um Morgan Stanley moves closer to Bitcoin ETF launch with NYSE listing announcement. [music] When you look at the news a lot every day, um and since like doesn't matter if it's CoinDesk or anybody [music] else. But um it's always just like Bitcoin weakens or strengthens and you know, something else did something. It's just like it gets it gets a little repetitive, right? They're like oil's up, now it's down. Somebody made a hundred million dollars. It's all crashing. The end of the world. No, it's up. Everybody saved. It's just like It's like a manic. It's like we do all the things in like a two-week period. And it's like if everybody could just chill out uh unless you're like trading oil on the like 10-minute [music] chart or the five-minute chart, which

somebody might be. Like otherwise, who cares? Give Let's give this whole thing like a nice two months and then check back in. That's how I roll. Otherwise, you just stress yourself out with this stuff. [music] They're like, you know, the dollar weakens and oil falls and a week from now it'll be like the dollar has strengthened and oil problems are over. Anyways, you get [music] my point. There's a lot of talk right now about some big thing that's going to come out and kind of end that whole [music] conflict. Morgan Stanley moves closer to Bitcoin ETF launch. There you go. Uh Solana bets [music] on AI agents. Foundation says network is becoming core infrastructure for agentic internet. [music] If that's true, then maybe the AI agents on Solana are the best bet. I mean, that's where I bought most

of my AI agents. The What [music] I'm worried about is like meme coin style stuff where when AI agents come back, everybody's going to huddle to like these new AI agents. And some of the ones that I bought are probably not going to be relevant. The only thing I can hope for is [music] one or two of the projects that I bought into actually builds. Right? >> [music] >> Um while sentiment is down. And when sentiment comes back, they have a lot more to show, a lot more wealth of product. That's my only hope there. [music] As you see in the F- the CFTC, landmark crypto guidance inside fintech. A lot of people on this uh regulation that should come through at some point here. Oh, man. I saw an article on Facebook the other day and it was

about um [music] the repricing of XRP is in the is is [music] like a part of this what they're doing in like Congress and stuff. And that's when that, you know, it it when That's what XRP's going to be repriced. And I was like, boy. I'd love for it to be true, but they really just be grasping at straws out there sometimes to pump up the XRP people. [music] I mean, when you make your whole social media and everything just off of trying to hype people up about XRP it's got to be stressful. Tokenization hearing. Congress just decided it's inevitable. The hard questions are still unanswered. And maybe it's true. It's just like every time you turn around they have a reason for why like [music] XRP is going to be repriced or it's going to go up dramatically

overnight. It's going to $50,000 a coin. And don't get me wrong, I have a large bag. I'd be very happy to see that. But I don't know about that. Most relevant crypto news today. Bitcoin holding 70k. Institutional Bitcoin access keeps expanding. That's good for inflow, right? [music] Regulation is getting clearer. That's a big deal for a lot of people coming into the space and building real stuff. [music] Solana is leaning hard into the AI agent narrative. I like that for some things in my bags, although I don't know if it'll benefit it. Tokenization RWAs are still gaining legitimacy. Another under the radar, but meaningful story. Tokenization is continuing to gain serious institutional and policy attention. The fintech weekly piece today covered tokenization hearings in Congress, where the tone appears to be shifting more towards this is coming than should

it exist. And why this matters cuz real world assets remain one of the strongest adult money >> [music] >> narratives in crypto. I don't know if I like adult money as a term. That sounds dirty. All right. Help Ethereum. Layer twos, infrastructure plays, custody uh cus- custody. I want to say custodial and custody in the same same word. Compliance and financial rail [music] stories. All right. Well, that's good. Fintech weekly. Here's a good article about it. ETH is stable, but still not the main character. Ethereum isn't dead. It's just not commanding the same excitement right now. Well, we went over how it's the core of DeFi and everything is pretty much built on Ethereum. I don't see Ethereum going anywhere. Let's be honest. What's trending over on Twitter? So we're moving a little bit away from the regular news

cycle to more like what's going on on Twitter. Of course, BTC holding 70,000, a big [music] conversation. Macros plus crypto is still tighten- tightly connected, of course. Uh geopolitical tension, the oil and the dollar, whether crypto is behaving like a risk asset or an independent [music] asset. I'd like to know a definitive answer on that one. Narrative hunters are rotating again. The smart degen side of X is still obsessed with AI. DeFi perps, all this run of decentralized exchanges and stuff that we've seen. Ecosystem rotation. And what's the next sector to run? Wow, it sounds like they don't know anything. That's kind of what I'm getting here is they Well, it's You know, it's weird is the the smart degen side of X is like a combination of them not really knowing what's going to happen and then at

the same time being very largely responsible, the big influencers that kind of direct the herd. Very irresponsible in directing actually where a lot of the attention goes and what the next stuff is. So I'd be keeping a close eye on that. Regulatory clarity is being talked about more than usual. It isn't the loudest trend, but it's the most relevant >> [music] >> than most people realize. A lot more serious accounts are discussing serious accounts. I mean, which ones are we considering serious accounts? Cuz they're big or because they're actually serious? [music] I don't know. So what's the SEC and CFTC interpretation? Uh which tokens benefit? Whether institutions now have fewer excuses to stay out. Yeah. Just like crypto was in the beginning, it was became so attractive that all the naysayers eventually have now Now they have ETFs, right?

[music] Look at Look how far JP Diamond has come, right? And a lot of it's just posturing and positioning. >> [music] >> A lot of them probably knew it was going to do well from day one and a lot of them probably own some very early on. So, Reddit in the broader community sentiment today feels like cautiously optimistic, [music] not euphoric, still skeptical, bear market vibes, right? That's what we're talking about. But, the real big picture today, crypto is in a rebuilding confidence phase, not a euphoric breakout phase. Well, yeah, that's >> [music] >> I could have told you that. All right. Best YouTube angle. Well, well, I'm not making a video on it, ChatGPT. I just wanted to tell the people the news. Dang, ChatGPT. It's trying to influence me too much. You know what I mean? Like,

it's trying to steer my life. I need it to chill out a little bit. I'm just messing around, but it is kind of funny. All right. So, we went from secret to Osmos. Now, we know what Osmosis is. We literally just talked about it. Says, "Bro, so many nonsense about XRP." Oh, yeah. And you know, the it's >> [music] >> I hope they're right. I hope that they are right. I hope they Yo, the comments were hilarious though because the the article or the main post was just talking about XRP being repriced as a part of like the Clarity Act and stuff. And people were just like, "Yeah, back to a penny." And I'm just like, "Yo, y'all sit down." I don't like I don't like either one of them. I don't like the naysayers of XRP and I

don't like the people trying to make bold crazy claims about XRP. Like, uh let's just see what happens, right? People move on such a short time frame that it's like I'm cool with like, "Let's let 2 3 months go by and see what happens." And they're like, "What is it going to do tomorrow? It's going to 50K." You know, they're like an addict on the street. They just need that, you [music] know, that hit of price movement to confirm that they're smart people or something. It's It gets really weird. And unfortunately, I know a few people who are very much into a lot of the stuff that they keep hearing on Twitter and stuff and they bought XRP for that reason. And they talk about it and I'm just like I don't I don't even know how to have

this conversation with you. You know what I mean? Um there's not enough money in the world. If all the money in the world was put into the market cap of XRP, I don't think it could touch 20,000, [music] 30,000, 50,000. And then the argument becomes, and who knows, maybe I'm a dummy and I don't I don't get it, but the argument becomes, [music] "Well, it has to go to like somewhere around 40 to 50,000 in order for them to move the large amounts of money with a given number of XRP." And I'm just like, "All right. Well, I get your point, but that does still doesn't mean you're just going to take something from like a dollar or two to $50,000 per asset and let regular people who hold it cash in on that. I don't see that. >>

[music] >> And then, of course, you got the public and private ledger. Um everybody's so sure first that they exist, but they're also so sure that they're going to merge them and like what the private ledger is is going to suddenly become what the public ledger coins are worth or you're going to have the ability to buy and sell into it. They don't ever have to do that, right? They could leave those separate forever. But, I hope so. Blues Guy says adult money. Yeah, adult money was a weird term to say there. Uh discovery and trade, you got XDC cash on Osmos. Basically, if you want anything in the Cosmos ecosystem, here you go. [music] And it's really funny. Just want to take a minute. I don't know how you guys feel. I feel like we've been going at

a million miles an hour, rolling up on 2 hours. >> [music] >> We're like 14 minutes away from a 2-hour stream, which is nothing for us. That's a daily occurrence around here. If you're new, smash that like button. I I thought today we were going to deep dive Cosmos ecosystem and learn a lot about the products and projects in it. But, really what we learned is that Osmos Oh, sorry. Cosmos, Osmos being a big part of that ecosystem is relatively dead, huge disputes between the governance and community to the point of devs, significant devs in the in the product or the project uh or the ecosystem is what I really want to say, forking it. And there's like no liquidity over there. But, I wouldn't have honed in on all of that stuff and I wouldn't have learned any

of that stuff if I didn't show up daily. If I didn't believe in raising my crypto IQ, if I didn't get in and deep dive and learn. Think we're about maybe just a little bit 6 months over doing this show as a live stream. I did pre-recorded videos. The channel's about 2 years old, but to me my channel didn't really start till I started doing these live streams, [music] right? Because I've become more in-depth with a lot of stuff in crypto than I really ever thought I ever could. So, I just want to say to anybody who's with me, relax, take it day by day, soak up a little bit of knowledge every day. You never know where we're going to go and what we're going to learn in a stream. And then, of course, get involved yourself. Find

something like how Melissa loves Minati and helps with gaming things that we find and get finds her own stuff. How Blues Guy's very much talking about Flare all the time, >> [music] >> right? Um I kind of like everybody to pick something, whether it's trading and you're hanging out in the Discord with Bank Roll and Green Fingers. Find something to dig into. Even if it's just a little bit. It doesn't have to be this big, wide-arching thing. Come into the community and also give even as you earn. And I think we can make one heck of a community if we do that. All right. You don't really need to know a lot about Osmosis. You can swap coins here, right? This is your main hub. Think of it like PancakeSwap. It's the PancakeSwap of of Cosmos. [music] They have

everything named so similar, right? Cosmos, Osmos, like, you know, going down the line. And uh that that messes me up a little bit. Be saying the wrong thing forever. Dimension. So, at this point, what we're going to focus on is just what what are these top projects, maybe like the top 15, 10, probably the top 10 series [music] projects, like what they are. So, when you see Dimension, you know what it is. So, 14.4 million in market cap, obviously Cosmos. It is smart contracts, modular blockchain, and rollups as a service. Now, Dimension is another one that I have seen popped up on the radar in the trending more recently than not. And uh seems like maybe it's doing some things correctly. Um I wouldn't be surprised if projects like this eventually move off of the ecosystem and just move

somewhere else altogether, right? Maybe to base blockchain. Uh modular blockchain, rollup as a service, but there's got to be room for them. Like, they might try to move to base and they already have competitors doing what they're doing and there's not really room for them at that point. So, it'd be very interesting. All right. portal.dimension.xyz. What do we got? Thank you for the links, Melissa. I appreciate that. Discord. Discord all over the place. In the chat, linked in the chat, in the description. Hop into the Discord, come hang out with us. Launch token and evolve it into a chain. Okay, that's very much like the Cosmos, you know, thing to say there. Looks like it's very much like a launchpad. Cast to the moon. I mean, it's got $5,900 in it. I mean, it's pretty It's It's kind of

sad. I mean, look at this thing. Uh $918 in this one. This one actually has This one's potato. And it actually has $32,000 in [music] it. But, I mean, it's just kind of sad from there. Says up or down $470. Like, I guess if you want to just like be involved in really small ecos I don't really get it. Like, CAS memes. Like, can they not do CASPA memes on CASPA, right? What happened to KRC-20s? Seems like the place to make like a CASPA, you know, meme coin would be on CASPA. But, what do I know? This is Dimension. Definitely has launchpad type stuff to it. Stake, vote, pump vote. Let's see. Bridge, provide liquidity, swap, pools, assets. So, a lot of your pretty much everything's that you normally see, royalties from your your launch tokens. I don't know.

Doesn't seem like a a brimming [music] ecosystem over there on Dimension. I don't know why you wouldn't just go to pump.fund. You could probably pretty much throw something out into the wind in pump.fund and get more traction than you would over on Dimension. Juno. I remember when Campster was talking a lot about Juno. And uh hopefully he didn't get burned too bad by Juno. So, only 1.9 million. Let's see. Let's see about that spike over here. So, all-time high $45. All-time low is about where it's at now at about 2 cents. I mean, could that be the scoop of the lifetime or is it broken? It's never going to work. All right. I clicked the wrong thing. I went to medium. We don't really want to go to medium. We want to go to junonetwork.io, the incubator of the

inner chain. And I'm not going to go too hard into like what the projects, you know, do past the simple explanation because we already know that this ecosystem is pretty much dying. There might be a handful of projects that move somewhere else um with all their EVM compatibility. [music] That kind of makes it interesting. Maybe some of them will jump over to Berachain, right? That would be very interesting. Berachain is a new up-and-coming ecosystem. They could use some of these new systems. That might not be a bad place for them to run to. Uh NFT marketplace demonstration featuring Andromeda. Whatever that means. So, use Juno apps on Juno ecosystem updates. Yeah, but what's the point of this? Initiate your project idea by acquiring the knowledge of integrated construct and test it using Juno's cutting-edge technology. Tap into Juno's vibrant

community to validate your product's market fit within [music] the Web3 world. Yeah, I mean, and it's easy to type words on a page. Like they say a vibrant community. Does Juno have a vibrant community? Do you feel like this chart reflects a vibrant community? Come on. And that's why you can't ever take what it says on the website too seriously, right? You have to look at it, read it, and then dig deeper and go investigate. Um Desmos, Stargaze, those were definitely on some of the things that we were looking at here. There's Desmos. Stargaze was over here. Just want to look at a handful of things, and then we will pretty much move on. I wish they had a quicker description. Here we are. Financial infrastructure platform that enables seamless interoperability between traditional financial systems and blockchain networks. It

offers asset-agnostic [music] solutions designed to facilitate secure and efficient secure and efficient. That doesn't make sense. Cross-ecosystem transactions eliminating the need for intermediaries and reducing operational complexities by leveraging advances about All right. Yeah, I think you got it. Um it's actually on Arbitrum as well. That's a smart move for them. So, maybe we can look a little more into this. So, it's infrastructure, obviously. Hopefully, you got that from the description. >> [music] >> Kyma.network. Uniting Web2 and Web3. Isn't that what we all hope will happen at some point? Hey, look, they have a MasterCard, just like everybody has a card. So, Kyma network is a cross-chain ecosystem money transfer protocol that enables seamless and secure TradFi-DeFi interoperability without smart contracts. Well, if they have like a copy of their project over on Arbitrum, then maybe they might continue to

live on, right? When the Cosmos ecosystem eventually crumbles completely and it's thought of as not viable anymore, cuz it seems like the track that it's headed. Then maybe the Arbitrum side of it will stay alive. I don't know. Unifying all financial ecosystems, not just blockchain. So, uh unchained interoperability. I mean, I don't want to read every last little bit of that. You get the point. Use case. That'd be helpful. Imagine any use case, Kyma has [music] that. Wow. They They were like, "Use case? We got this. Our use case? Anything you can imagine." Well, that's very uh direct. On that note, I'm out. Like, that's hilarious. They're like, "Use case? Just think about it. And then, yeah, we [music] got that. You think about it, we got it." Sounds like a sales pitch I would give uh as a

con artist for a product that I didn't actually own or have. You ever seen that thing about the guy who sold um what is it in the Eiffel Tower in Paris? He sold it like three times. Like, this dude was ballsy. Like, he did it once, like, right off into the sunset with your money. You don't come back and do it again. And of course Of course, that's how he got like Well, no, that isn't how he got caught. He actually went to America. Anyways, let's move on. Desmos. The less than a million dollars in market cap. Um that seems like where we should stop. Just wanted to talk about things that still had some market cap. At least Kyma and Judo still had over a million in market cap. But like you get down under uh Desmos here,

all of this stuff is just like literal peanuts. See, we'll let it toggle toggle. I need to drink some water. Toggle by market cap. It will, but I mean, it is already in in list of market cap. So, let's go to our talking points here. Oh, damn. I don't I don't need to spill this pink drink on my white shirt. So, remember very much what we're going to be talking about in the talking points is very IQ-raising type stuff. So, it's not so much patting Cosmos on the back. We're really talking about its consensus, the ideas, and the things that it's doing that were at one point probably pretty cutting-edge and revolutionary. And as we now know, didn't always work out. So, Cosmos allows each application to run its own blockchain. Sovereignty. Each chain controls Uh thanks for those

custom emojis. Become a member, get your own custom emojis now. >> [music] >> And it says, "Bro, what a stream. Kudos." Thank you. Thank you very much, man. I do my best to put together a stream everybody can learn and enjoy. So, sovereignty. Each chain controls its rules, its validators, and its upgrades. And as we talked about, we have a lot of um hindsight is 20/20 here, right? In retrospect [music] of the fact that like this seemed like maybe it was too much power or too much control. I made that metaphor for like getting into a program and there's like too many options that you can't even figure out how to do something simple like lower the volume. That's why I wear dreadlocks. My hair is like all in my face. All right, no shared congestion. Apps don't compete

for block space. Each chain operates independently. Then you have this inner blockchain communication. We're very much talking about the tech side of all of this. IBC allows chains to transfer data and assets. [music] Modular by design. Cosmos separates chains rather than layering systems. And if you really want to know where we're headed, sometimes we have to study where we've been and then where we're at to really have a clear idea of what works, what doesn't works, and where we're going. Cuz if somebody comes out with the same idea, but it's not integrating the new stuff, then we know it's probably not going to work because Cosmos already tested it, right? So, tradeoffs. Challenges are included fragmentation, liquidity distribution, and coordination. The fragmentation apparently in Cosmos [music] is what has caused a lot of it to not do well. Ecosystem

structure. Cosmos is a network of chains, not a single platform. And the core insight here is Cosmos scales by expanding horizontally, adding more chains instead of scaling one chain. Let's keep that in mind. And we'll have a last look here at all the stuff that's in the ecosystem, but we don't need to go hard on it like we do the Solana >> [music] >> and Ethereum because a lot of this stuff probably won't be around in a very short period [music] of time. Let's talk about the top gainers, top losers. And we absolutely have to refresh this cuz it changes. Meme core. Shout out to Meme core being in the top gainers of the day. Blockstreet up 86% and sign. I hope sign stays the number one loser for the next end of time. Uh but it won't. Pippin

just continuing to lose. >> [snorts] >> It feels like traders made their money and then they've decided like they've moved on to something else. And And now, you know, Pippin is chopped liver, if you will. Scisic, we've heard about that a few times. We've covered it a few times. It's down 33%. [music] Um I hit I have one of those mouses with like way too many buttons on [music] it. Yeah. Yeah, you already know. If you have one, you know what I just did. I just hit one of those random buttons that that God knows what they do, honestly. Uh Blockstreet, BSB. And if you If you don't know from our previous shows, decentralized finance financealpha.blockstreet.money. Unified liquidity. Wow. We just spent a ton of time talking about Cosmos and how it didn't have unified liquidity. So, hopefully, that

has helped you understand why unified liquidity is actually really important. [music] There you go. And what ecosystem? Ethereum, Mantle, and BNB. So, there you go. And it is up 86 87%. It's still ticking [music] up. I I if it's gone up recently. Let's check that out. Let's go to the 24-hour. Yeah, a lot of this has been since 6:15 EDT. I'll let you figure out what that is. All right, and then of course siren gradient. Look at that. SN56. For the love of God, somebody please tell me what SN indicates when you see it in a ticker. Somebody, anybody. What does it mean? What does it mean? What does SN mean? And also what ecosystem is that? Hey, look, there's another SN. What would be the benefit? Oh, look, here's another one and another one and another one. What

could possibly be the benefit of knowing what that means and also what ecosystem that's a part of? I don't know. All right, let's hop over to chainers for a minute. See what's going on here. It was being weird a minute ago. It wasn't letting me actually I say a minute ago, right? Uh before the stream, which was 2 hours ago. But in my mind, a minute ago. It wasn't letting me plant stuff. [music] All right, now it's working. Cool. And we'll go over here. We'll sell some stuff. I guess I've done it pretty recently. All Let's go. I wonder what I've got to in BNB recently. Bro, what is stream kudos? BNB? Question mark? Uh BNB? Binance smart Binance Binance smart chain? I don't know. I don't know what you were questioning. I probably said something and said it

wrong. All right. You're bound to say something wrong in a 2-hour live stream. Let's see what we got here. It'll be more sheep's food. I think that's what it is. Uh it is. More sheep's food. No, I need [music] actual sheep, not sheep's food. I need the actual sheep. I don't know why it's so hard to get that. Let's go to the Adam caster, not Adam one. Just a regular Adam. It's hilarious that that's that's funny. I don't know. I guess it had to be relevant at some point, right? And now we we do we transition into the underground crypto hangout part of the night. You know we love DeFi gaming. I think it's a good pair. Pairing like the raising your crypto IQ, deep diving ecosystems, staying up on what is relevant and trending, um the news. It

needs to be balanced out with like some fun and some games and stuff, right? You need balance in life. You can't be all one thing or the other. I thought Blues Guy was saying BRB, like he's going to be right back. Uh UG, when it's when it is 4:00 p.m., it means 1600. If you want to know, just take 12 and add the time. Uh yeah, like military time. Yeah, absolutely. 1600. So, there you go. It's 4:00 p.m. I do I I know that. I just didn't feel like even, you know. What I meant more by you figure it out was the EDT. Like, what is EDT? Like, what time zone is that? I don't I don't know what EDT is. It might be literally my time zone and I think that it actually might be. All right, Fogo.

Fogo still cooking. Still making stuff. I've actually collected a day or two ago. So, it's been very reset. I actually have like 251,000 processed, not unprocessed, but processed uh fish tokens here. Probably not worth a ton. I'm hoping to just My goal with this is to mess with it until we get into something a little bit more exciting in the market, it goes up a little bit, and then I'll probably cash out of it. And hopefully it was worth the amount of time. But obviously, it's just something fun to mess with. [music] I don't stress it too much. Let's go over to that Robinhood testnet faucet. Grab us some tokens. Oh, I can only claim I I need to refresh it. Six Wait, no, I really do have to wait 6 minutes. Okay. Well, there's that. Let's go to

testnet. GM on Robinhood testnet. Just doing our due diligence, hoping that we get a decent Robinhood airdrop, and we'll see. Apparently, we have to do this for at least a year. That's what NW tells us. I always deploy the smart contract like three times. Hopefully, that [music] is beneficial. With airdrops, you never really actually know uh what the heck is going on. Now, let's go look. See who's that person that he gave us. Where you at? There's Pearl lab when we were doing it. Here we are. The sellman NFT. I'm going to close some of these tabs. We don't need all the tabs for the ecosystem stuff. So, here we go. Base airdrop coming. Base announced uh base name 45 cents 1 year. So, you get 45 cents per year. I don't know what that means or they're going

to charge you 45 cents per year. On-chain score doesn't like that link. Contract deploy, guild roles, and base ecosystem base airdrop. I don't know what that means. Like where's NW at? So, they're announcing that they're doing the airdrop or like that they've taken the snapshots and they're going to delegate. Seems like the other way around. Why does it say base name 45 cents 1 year? It must be like 45 cents per year to have it. That's the only thing I can understand out of that. Okay, that's very interesting. This is the airdrop part. We do this in the hangout. So, use farcaster, use Zora. I gave up on Zora. I I I just didn't like it. There's no traction for my style of what I'm doing. It's like people posting pictures of like you know, they went for a

walk and they took a picture of a tree. I'm like, why would we tokenize this and and and people buy it? Like, and not honestly, not many people do, but there's still more than what I get. You know what I mean? For actually creating something. But that's not my point. My point is like, does not anybody have like Google images? You could look at pictures of trees for the rest of your life. I don't know. It just doesn't seem valuable. Okay. Talking about baklava. Which is delicious, but I don't know how it has anything to do with this conversation. You can click on the intro. Yeah, so there's there's a lot of stuff going on here. What does this say? Base Okay, yeah, this probably I could spend a lot of time in this stuff personally. I don't know

that everybody wants me to do that right now. All right, I was hoping to find maybe a little more valuable stuff. What else does he got for us? Uh infinite names better domain. Okay, does it still have to do with base? I don't know. View the domain public. See the owner, check the wallet. Is this for an airdrop or what are we doing here? Instead of just seeing taken, you can now [music] view registered profiles. Well, where's the privacy? Greetings, backpack airdrop has arrived, and NW told us that maybe it wasn't all that great. Yeah, they will charge you 45 cents a year. Um with my luck, the wallet would have not have 45 cents in it when they went to pull the money. To qualify for base airdrops, just use base. If you did all those useless Zora

and farcast tasks, it will contribute. Hold money on base, add to the liquidity pools on base, make occasional transactions on base. I could probably up my occasional transactions, but I've definitely used base before. Sounds like a huge airdrop though. Sounds like they're going to spread money too thin between people. Everybody going to get a dollar. Everybody gets a dollar, right? I feel like they have a lot of users, and if they're just going by anybody who's used it, >> [music] >> I don't know. Very interesting. Friends using iOS update, there's [music] already just a little money left in the account. We shouldn't lose that, too. We love getting scammed slowly. There's a security vulnerability. Exchanges are issuing warnings. Love that. That was from March 20th, 5 days ago. Oh, it was translated from Turkish. So, I don't know if

that was maybe specifically for people in Turkey. Probably not though. I always keep my phone super updated. So, I guess I don't have to worry about it. I don't know. Tempo is a project backed by significant funding and supported by Stripe. I'm sharing all the necessary steps for the airdrop. Tempo mainnet. Bang. I guess we go put this in the Discord. Am I leveling up here? Airdrops. Based app. Okay, there we go. Bang. All right, look at that. I'm posting in the airdrops, too. I don't know. NW, you doing the Tempo mainnet stuff? Says it costs $2. I think I could swing it. I do think I could I could probably swing $2. Yeah, and then okay, he Yeah. I'd love to see that you've been doing a little bit in the airdrops and in the chat. Anything you

can I mean, I'm not going to demand [music] your time. I have no right to do so, but I appreciate it. Anything you can contribute on a daily not daily basis, but whatever you come across that seems relevant, please uh drop it over in our Discord, NW. I appreciate you. All right. Yeah, it's just like a random thing after another, [music] one after another. All right. Where do we want to go from here? See if it lets me play a round of Panzer Dogs today. Yesterday sucked for Panzer Dogs. I couldn't play nothing. Uh yep, yep, read that. Man, where did everybody go? Am I running you guys ragged? Running you guys too long? Are y'all not able to keep up? It is Wednesday, isn't it? Get all this freaking hair out of the way. All right, let's play

a round of Panzer Dogs real quick. Melissa's here. Thank you for checking in, just chilling. Thank you very much. I don't know. I never know. Sometimes it just lies to me. It says there's six people in here, but that doesn't make any sense. [music] Yeah, it says there's six people in here. But it's like how could that be? I have it [music] up like three times today. I don't always, but today I actually have the stream up like three different times across different devices. So, that's three. >> [music] >> And then Melissa makes four. So, we have Blues Guy and NW. What is going on? It just always reminds me of a YouTuber couple of years ago who predicted that crypto YouTube um would die at one point. And was he right? Did I get into uh doing crypto

YouTube at like the absolute worst time ever? Maybe. Never know what the future will hold. Aw, dude, got him with the barrel blow up. My favorite [snorts] way to take people out. Bro, I really don't like the flamethrower. Too many times I'm like so right next to him and it still doesn't do anything. Well, thanks for being here. Melissa and whoever else is here, Blues Guy and NW. [music] You know, I believe it'll pay off in the long run. Not just like being on my stream. That's not what I mean. But just sticking around and caring about crypto. People like NW get it. It's not their first bear market, right? And I think that probably goes for Blues Guy and Melissa as well. I'm sure this is not your first bear market. Are you kidding me? Why can't I

hit this guy? All right. Well, with that being said and it being a Wednesday, I thought we went over a lot. What did we learn? Cosmos is cooked. But now I know. Um I feel like I've heard whispers and murmurs about some of that stuff before, but I never really went as far into it as I just went now. But apparently Cosmos is cooked. So, we shouldn't really bother with Cosmos [music] ecosystem projects. That's my takeaway from the deep dive tonight. You know what it is. I'm going to hop off. Yes, this is the bear market vibes. Oh well. I hope you all remember your boy was here for you and didn't leave you hanging in [music] the uh bear market. He didn't run away and not do content for, you know, 2 years or 3 years or whatever

and then run back as soon as things heated up, right? It's a long grind. Hopefully it pays off a lot. We'll see. Love all y'all. Stay underground. Stay crypto. Shout out to all the undergrounders. Hit me up in the Discord. I get it. I'm hanging in there with everybody else. And uh I'll catch you on the next one. Underground Crypto out. And you're welcome, Melissa, for the stream, absolutely.