Cosmos 生态系统深度分析:为什么看好不受市场欢迎的ATOM

币圈资讯 阅读:32 2024-04-22 04:52:14 评论:0
美化布局示例

欧易(OKX)最新版本

【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费!

APP下载   全球官网 大陆官网

币安(Binance)最新版本

币安交易所app【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费!

APP下载   官网地址

火币HTX最新版本

火币老牌交易所【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费!

APP下载   官网地址

作者:David Attermann,m31 Capital  翻译:善欧巴,比特币买卖交易网

尽管普遍不受欢迎,ATOM 却意外地代表了当今市场上最佳的投资配置之一(风险/回报)。这篇文章将阐述该代币的史上最低情绪、更广泛的 Cosmos 生态系统令人印象深刻的增长,以及为什么 "这一次会不同"。

Cosmos 和 ATOM 简介

Cosmos 不是一个区块链,而是一个由互操作区块链(应用链或区域链)组成的网络,通过 IBC(跨链通信)协议连接。与大多数区块链共享块空间不同,开发者可以在 Cosmos 上定制和部署他们自己的应用链,这赋予他们更大的设计灵活性(不同的应用有不同的性能/功能需求)、更好的可扩展性/更少的块空间竞争,以及可能最重要的是,应用可以累积价值的原生 gas 代币。

ATOM 是第一个在 Cosmos 上启动的区块链 Cosmos Hub 的原生代币。过去几年间,星际基金会 (Interchain Foundation) 主要专注于开发 Cosmos SDK 或软件开发工具包,使开发人员能够快速轻松地定制和启动应用链。此举具有高度战略意义:首先专注于应用程序/开发者招募以扩大网络效应,然后为 Hub 及其原生 ATOM 代币添加更多功能。

然而,自从项目启动以来,社区内部一直就 Hub 在更广泛生态系统中的作用以及代币提取价值的权利不断争吵。尽管整个生态系统取得了令人兴奋的增长,但 Hub 持续的身份危机一直阻碍着代币的发展。

ATOM投资论点

情绪处于历史最低点

目前Hub的情绪处于历史最低点,这从 ATOM 过去几年的绝对和相对价格表现中可以明显看出:

与ETH的相比,ATOM的价格在过去一年半是下降的。

生态系统

最近市场大涨,ATOM错过了最近的市场广泛复苏。

生态系统

并且ATOM在过去12个月下跌了18%(同期BTC上涨了120%)。

生态系统

Cosmos已成为顶级Web3生态系统

该生态系统目前在开发者活动中排名第三:

生态系统

拥有约500亿美元的IBC年度交易量:

生态系统

总生态系统市值为820亿美元,其中250亿美元已经接入IBC。

生态系统

该生态系统包括Web3主要垂直领域的明星项目,包括区块链基础设施(Sei, Celestia, Dymension, Axelar, Neutron)、DeFi(dYdX, Injective, Osmosis, Thorchain, Stride)、DePIN(Akash, Pocket, Jackal, Syntropy, Cudos, dVPN)、AI(Fetch.ai, Oraichain, Soarchain, AIOZ)和RWA(Provenance, Noble)

生态系统

当包括Provenance时,IBC的总TVL为128亿美元,成为按TVL计算的第二大生态系统。(DefiLlama 和其他数据提供商不会聚合 Cosmos TVL,因为它尚未通过通用代币连接)

生态系统

为什么“这次不同”

Jae Kwon最终退出了。

ATOM持有者过去曾多次尝试增加ATOM的价值积累。Hub社区历史上一直分为两派:

  • 1)那些希望保持ATOM设计简单以最大化安全性的人(由联合创始人Jae Kwon领导)

  • 2)那些希望改善代币的价值积累,特别是通过利用更广泛的Cosmos生态系统的经济活动的人

下图是Hub争议历史的简要总结:

生态系统

讨论Cosmos Hub的未来和Stride

尽管连续遭到拒绝,但在2023年11月提案848(将ATOM通胀从14%降至10%)出人意料地通过后,Hub的前景完全改变了。虽然表面上不是一个巨大的胜利,但这是Jae Kwon的最后一根稻草,他立即宣布了他打算与他的忠实追随者一起分叉Hub的意图。新链AtomOne计划在本月推出。

随着Kwon最终退出,重新活跃的Hub社区决心最终改善ATOM代币的价值积累和认知。尽管目前还没有做出重大改变,但Hub论坛上有许多令人兴奋的想法(货币性、安全性、流动性),很可能很快就会有一波可能改变游戏规则的提案涌现。

Osmosis最近引入的IBC费用抽象就是个例子。

Cosmos用户最常见的抱怨之一是需要拥有不同区域的原生代币才能使它们互操作。Osmosis,领先的Cosmos DEX,最近引入了一个费用抽象模块,允许用户用任何Cosmos代币支付IBC Gas费用(只要接收区块链已批准升级)。该模块仍处于初期阶段,但如果它被广泛采用,ATOM有合法的机会成为IBC的默认Gas代币。

生态系统

Bablylon集成极大增强了Hub的共享安全模型。

生态系统

另一个鲜为人知的发展是Hub最近与Babylon,比特币再质押协议的合作伙伴关系。该合作伙伴关系,本月将启动测试网,将允许比特币持有者质押他们的BTC以保护Cosmos Hub ICS消费者链,这将与 Babylon 一起将比特币安全带入 Cosmos Hub:

生态系统

总结

  • ATOM 情绪跌至谷底

  • Cosmos 生态系统从未如此强劲

  • 随着 Jae Kwon 的离开,ATOM 治理现在可以追求更有意义的价值积累(以及其他看涨选项)

  • 我没有特定的催化剂或价格目标;我只是认为,考虑到其复杂性和充满争议的历史,市场忽视了 ATOM 的一系列利好发展。这种动态使该代币今天具有极具吸引力的风险/回报率(作为对比,ETH 和 SOL 的完全稀释估值目前分别为 ATOM 的 100 倍和 15 倍)。鉴于有利的设置,我相信 Hub 只需要一个治理提案就能实现重大的估值重估。


Although it is generally unpopular, Shanouba Bitcoin Trading Network unexpectedly represents one of the best investment configurations in the market today. This article will explain the impressive growth of the lowest-emotional and broader ecosystem in the history of this token and why it is different this time. It is not a blockchain, but a network composed of interoperable blockchain application chains or regional chains, which is different from most blockchain shared block spaces through cross-chain communication protocols. Developers can customize and deploy their own application chains on the Internet, which gives them greater design flexibility. Different applications have different performance and functional requirements, better scalability, less competition in block space, and perhaps most importantly, the native token that the application can accumulate value is the first native token of the blockchain launched on the Internet. In the past few years, Interstellar Foundation has mainly focused on developing or software development toolkits, enabling developers to customize and start application chains quickly and easily. The degree of strategic significance first focuses on the recruitment of application developers to expand the network effect, and then adds more functions to its native tokens. However, since the start of the project, the role of the community in a wider ecosystem and the right to extract the value of tokens have been constantly arguing. Despite the exciting growth of the entire ecosystem, the persistent identity crisis has been hindering the development of tokens. The investment argument is at an all-time low, and the current mood is at an all-time low. In the absolute and relative price performance of, it can be clearly seen that the price has declined in the past year and a half compared with that of. Recently, the market has soared and missed the recent extensive recovery of the market. The ecosystem has fallen in the past month and increased in the same period. The ecosystem has become the top ecosystem. At present, the ecosystem ranks third among developers' activities, with an annual transaction volume of about $ billion. The total ecosystem market value is $ billion, of which $ billion has been connected to the ecosystem. The ecosystem includes star projects in major vertical fields, including blockchain infrastructure and ecosystem. When included, the total amount is billion dollars, making it the second largest ecosystem by calculation, and other data providers will not aggregate because it has not yet connected the ecosystem through universal tokens. Why did this difference finally withdraw from the value accumulation community that the holders have tried to increase many times in the past? Historically, the community has been divided into two factions, and those who want to keep the design simple to maximize security are led by the co-founders. Those who want to improve the value accumulation of tokens, especially by making use of the economic activities of a wider ecosystem, see the following figure, which is a brief summary of the controversial history. The future of ecosystem discussion and the prospect after the adoption of the proposal in June have completely changed. Although it is not a huge victory on the surface, it is the last straw. He immediately announced his intention to branch off with his loyal followers. The new chain plan will be launched this month. The community, which finally quits and becomes active again, is determined to finally improve the value accumulation and cognition of tokens. Although no major changes have been made yet, there are many exciting ideas on the forum. Currency, security and liquidity are likely to have a wave of proposals that may change the rules of the game soon. The recently introduced fee abstraction is an example. One of the most common complaints of users is that they need to have native tokens from different regions to make them interoperate. Recently, a fee abstraction module has been introduced to allow them. Users pay fees with any token, as long as the receiving blockchain has been approved to upgrade the module, it is still in its infancy, but if it is widely adopted, it has a legal chance to become the default token ecosystem integration. Another little-known development of the shared security model ecosystem is the recent partnership with Bitcoin Pledge Agreement, which will launch a test network this month, which will allow Bitcoin holders to pledge theirs to protect the consumer chain, which will be together with Bitcoin. Safety is brought into the ecosystem, and emotions have fallen to the bottom. The ecosystem has never been so strong. With the departure of governance, we can now pursue more meaningful value accumulation and other bullish options. I don't have a specific catalyst or price target. I just think that considering its complexity and controversial history, the market has neglected a series of favorable developments. This dynamic makes the token attractive today. As a comparison, the risk-return ratio is doubled and the fully diluted valuation is doubled. Given the favorable setting, I believe that only one governance proposal is needed to realize a major valuation revaluation. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

文字格式和图片示例

注册有任何问题请添加 微信:MVIP619 拉你进入群

弹窗与图片大小一致 文章转载注明 网址:https://netpsp.com/?id=57431

美化布局示例

欧易(OKX)最新版本

【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费!

APP下载   全球官网 大陆官网

币安(Binance)最新版本

币安交易所app【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费!

APP下载   官网地址

火币HTX最新版本

火币老牌交易所【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费!

APP下载   官网地址
可以去百度分享获取分享代码输入这里。
声明

1.本站遵循行业规范,任何转载的稿件都会明确标注作者和来源;2.本站的原创文章,请转载时务必注明文章作者和来源,不尊重原创的行为我们将追究责任;3.作者投稿可能会经我们编辑修改或补充。

发表评论
平台列表
美化布局示例

欧易(OKX)

  全球官网 大陆官网

币安(Binance)

  官网

火币(HTX)

  官网

Gate.io

  官网

Bitget

  官网

deepcoin

  官网
关注我们

若遇到问题,加微信客服---清歌

搜索
排行榜
扫一扫,加我为微信好友加我为微信好友