The Future of Blockchain Interoperability

Transcript

hi everyone my name is federico and i'm the co-founder of atmos and today i'm going to talk about the future of blockchain interpretability and how you can scale applications with fmos first of all for the ones that don't know what is fmos atmos is a fully interoperable fast finality evm chain on cosmos that aims to create long-term incentive alignment between developers validators and users it's a fully ivc enabled evm so with the news of the dydx migrating into cosmos was a big surprise for everyone in the

ethereum ecosystem because it showed us a way for how applications could scale first on ethereum and then migrate once they reach maturity into their own application specific blockchain or atmos on on cosmos but until then the way the way of how applications usually scale was by adopting sort of like a multi-chain strategy so because of the evm mod composibility the manual lagos that allow all these decentralized applications to deploy on every single evm compatible chain allow them to quickly go deploy tests and in different chains like polygon

ethereum of course and other l1 ecosystems they were looking for metrics to decide on which deployment like traction in terms of users transactions per second volume etc and then like liquidity and also tvl and of course the community the community needs to be strong for them to decide whether or not to deploy but the main limitation of this approach is that they need to track and manage every single ecosystem that they're deploying to because now they need to actively manage every single smart contracts every single deployment maybe have like a different ui for every different chain if it's not

properly integrated so it's it's an operational burden for them to deploy into every single ecosystem but our approach to uh interchange scaling is not a multi-change approach but one where you can deploy once and then connect to the entire blockchain and interchange ecosystem we call this the interchange decentralized application strategy and we developed this because like the multi-chain strategy it's not going to be able to scale so ideally you should be able to deploy once on fmos like here in the picture you can see ava and then connect to all the different chains in the interchange on the evm ecosystem now these decentralized applications will be able to natively interoperate

via ivc on cosmos ecosystem and also evm based bridges this is what we call interchain composibility the ability for these decentralized uh decentralized application and smart contract to scale from the uh from the avm and reach new functionality with the help of the native interoperability that cosmos provides but now going back to the dydx case we've seen throughout the years that many decentralized applications have failed to be deployed on cosmos and a lot of them have tried this in the past like argon chain or uh component chain in the bulkhead

ecosystem but a lot of them fail why is that the case because of the high complexity of the cosmos sdk tendermint core you need to butcher the community from scratch and also the validator said and of course you need all these integrations all the core infrastructure and the essential integrations like wallets indexers oracle providers etc to get the chain started they're not there are no money legos on this new chain that you're building from scratch so you don't have all the toolings that you need for you to build these new use cases so evimos is introducing evidence share security as a mechanism for all this

decentralized application to take the same approach as dydx but now they can build and deploy on atmos get enough traction and then exit into their own evm application specific blockchain um deriving security directly from atmos through ivc and then we're going to be repeating this same strategy with the most popular applications on fmos and i'm going to talk about each of these steps on why you should consider this strategy for scaling your applications first of all mmos is an evm on cosmos that not only offers the programmability and composability that the evm provides but also the sovereignty and

interoperability so these allows as i mentioned before all these applications that are no longer constrained to the evm and an application that uses our core technology our evm is also going to be able to have all this customizability plus the sovereignty of the cosmos sak on the smart contract compatibility from the evm so the first step build undeploy and avmos why should you build undeployed navmos if there are like many evm compatible chains right now um so we try to divide like uh and here we outline like the main value proposition of why atmos is different um it's a fully ivc enabled evm has a really low

cost for users in terms of transaction fees you can also explore and discover new use cases because of uh the interpretability and also the modularity of the cosmos sdk projects can now earn revenues for uh from directly from transaction fees and you can also expand your user base into the rest of the cosmos ecosystem even non-evm compatible chains and we also provide a seamless user experience that combines these two ecosystems into single one so the evms evm it's powered by etherman which is our evm library that offers full evm equivalents and is also ibc compatible this means that not only you can do transfers now we have erc20s that are

fully ivc compatible but in the future you will be also able to do ibc queries for example um all the oracle services providers that are all deployed on fmos will be able to be queried via ivc from other chains same for contract calls you can build new use cases by packing an avi contract call directly into an ivc packet and then route them so that you can call a specific smart contract on fmos interchain accounts so that you can manage all your accounts in the interchange using one single account in atmos maybe using notice safe or other multisig providing additional security for your erc 20s on interchange assets

and also share security the mechanism for scale that we're introducing now the ether min evm module allows for will allow soon for custom pre-compiled contracts so that you can have for example ivc directly embedded as a pre-compile you can also add new custom functionality like for example slashing approval so you can have collateral free lending protocols so for example you can hear a request an approval from the staking module to slash your stake if you request a loan that is uncollateralized so once you you're liquidated you slash the tokens that are already provided uh

to the security of the network then uh tendermint avci plus plus so that we can add new functionality directly into the boat extension of the um application blockchain interface that tendermint core provides and of course native liquids in which is a new mechanism that we're able to use natively on the evm to provide additional liquidity for all the applications without any restrictions to the core security properties of atmos then you can also by deploying an airbus first you can allow new use cases like this one with somalia um so somalia has these uh avid sellers that they are now going

to be deploying as a mechanism for you to manage the liquidity on the other protocol and ethereum but once ava b3 is deployed on atmos you will be able to use ivc directly in a mechanism that is going to be cheaper for the users and it's going to be uh faster because you're using ivc um this allows smart contracts that are deployed on mmos provide them new functionality with application specific chains that are on cosmos so you you can replicate the same functionality um that we're seeing now with somalia you can do the same with osmosis with region with um atom and other core blockchains in the cosmos

ecosystem another core functionality that we're working on is interchain accounts so that you can provide you can manage all your accounts in the same using a single account on atmos so you can manage all your for example your interchange assets using analysis save you can stake you can use your erc20s and also of course send ethereum transactions on cosmos transaction ivc transactions across the board this is going to be a massive ux improvement because now the users won't need to change the uh network when they go to a wallet they will just need to have one single account that is going to be managing all the things all the

portfolio now based on the topology of the network the user only will care about the portfolio and according to the recipient address on the tokens that are being sent you will be able to calculate which is the cheapest round to the destination or which is the fastest route to transfer those tokens these are we what we call smart wallets and the other uh functionality that we provide to incentivize this deployment is the developer incentives as opposed to the erp 1559 that is burn on ethereum we split it equally between the developers

and the users and the miners so that now every time that you interact with that transaction um with sorry with an application on atmos you're directly creating funding to the project that you're interacting with so for example if you're using diffusion or any other um application on the on the evidence ecosystem you're directly paying 50 of those fees to the development team this completely shifts the paradigm of how these applications get funding and bootstrap themselves from day one you will be also be able to expand your user base by having interoperable erc20s now you can see for example how

diffusion just added uh osmo and atom which are not erc20 compatible into their amm on the evm the same way you can do this by adding all these tokens from the cosmos ecosystem into your application on atmos and other applications of specific chains we'll also be able to do this because we're also representing erc20s as ibc compatible formats and then and you can see here how we are merging the user experience between the cosmos and ivc networks uh on sorry on evm networks in a way that it's you're able

to manage all your erc20s ivc assets etc using a single interface we're going to be providing seamless inter user experience so that all the applications can use um the functionalities of ivc using the preferred mechanism right now we support kepler metamask and ledger and we're adding functionality for cos um a coinbase wallet and wallet connect so that you can connect all the wallets in the ecosystem and do ivc transfer cosmos transactions and also evm compatible transactions um atmos now has also two less than two second block times so that you can have the best user experience when

interacting with these applications and as i mentioned before you can also use cosmos and ethereum assets directly um now in terms of struction how do you get traction on fmos once you get the deployment and you decided to finally go and deploy um atmos is connected to the top chains in the cosmos ecosystem onto more than 25 chains in the evm compatible ecosystem so you can derive get liquidity from all these different sources and we're also introducing the first ever app store which is a decentralized smart marketplace for that developers and users so that we can get additional visibility for all the applications

service providers validators infrastructure and also applications in the interchange that will be able to uh be compatible directly with atmos through interoperability or directly deploying on the evm this is a mechanism in our view to increase the adoption from users coming from web 2 because our friends and family usually the way they interact with these applications are through an app store so by by implementing directly this is some mechanism to increase the visibility pre-created content for example defy app of the day validator of the day etc um and then the other mechanism where you

can get traction is the usage incentives now you have application in protocol usage incentive for every time that you interact with a smart contract so in the same way that you defy protocols and default applications and amms provide incentives for providing liquidity you can do the same right now with smart contracts so now every time that you interact with a contract that is approved by governance you get additional fmos tokens every time that you send a transaction that are paid out at the end of one week so our token model was built entirely to create incentive alignment for all the

different users that means developers validators and users so that we can have a shared assured and healthy ecosystem so that we can create more alignment between like all the different users and the third one how once you reach maturity how are you able to scale in the same way that dydx scale into their own application specific blockchain and this is our core valuable position that i'm trying to share with you now so as i mentioned this model for applications to grow then dydx pioneered is like that is trying to pioneer now deploying on ethereum and then migrating to cosmos

you can do the same right now but with atmos because you have all the native interoperability from day one and plus all the benefits that i outlined before once you reach maturity you can additionally add additional flexibility with the cosmos sdk functionality baking the sdk modules into the evm um so you don't you can maintain the evm equivalents while you're building your core functionality and then you can also interoperable natively via the interchange through ivc and evm bridges this is all going to be possible through the shared security mechanism that i outlined before but there's a huge limitation and it's what we call the layer one business

development program um the it's a hugely under underestimated problem because when you launch a new l1 most of the time that you will spend it's not doing like the tech ban talking to every single integration and infrastructure provider all the validators all the relay rpc um wallets multi-sig oracles indexers and all the the lists that you can see here um so how if you deploy a new chain how are you able to bootstrap yourself you don't if you don't have this basic integration this is where atmos com comes in play where atmos will serve as a main evm infrastructure hub not only for the entire evm ecosystem on

cosmos but for the entire interchain ecosystem and it's going to be available through native interoperability on ivc so once you reach a maturity you create your own chain and you can still benefit from all this infrastructure that is deployed on atmos and this is how it's going to look like you create an ivc once you reach a maturity you create an ivc a proposal to create your new chain that is deriving security once that happens you create half of an ivc connection and also export a genesis state um then once the new chain is uh starts you are able to create hot the remaining half of

the ibc connection and you can start using all the core infrastructure through native interoperability the things that i mentioned before ivc transfers ivc queries into chain accounts but also native interoperability between smart contracts a nice smart contract that is deployed on the new consumer chain is going to be able to talk to all the infrastructure and service providers that are going to be living on atmos so you don't have to worry about this business development program you can deploy and kick start your chain from day one using one single click governance proposal gets approved and you can start using all the core infrastructure on atmos that's our core valuable position and to use this mod to ease this model we're going to create like an

interchange package where we're going to be offering all these services to application on consumer chains directly talking to mmos they're still going to be using all the services all the applications that are deploying there and you're going to be able to export the state all the smart contracts the code the storage and also the balances we're going to be also creating tools for user acquisition in this case we're also creating an airdrop ui so that you can if you're creating your new chain you can select in the same way that we design our air like our token model on our airdrop mechanics you can select the smart contracts the

gas gasoline functionality if you want to select also the stakers or the lpers on atmos smart contracts or in osmosis and you'll be able to export a csv file with all the addresses and with all the uh token criteria that you define on this uh on your airdrop model and we believe that this is going to be hugely beneficial for atmos and for the entire community because of all the commissions that are going to be directly streamlined to evmus users wallets and of course it's going to create value for the atmos not only in the evms chain but in the entire interchange and evm ecosystem thank you so much and uh

happy to answer any questions that you might have now is there some question hello how is it going to work the native liquid stick so the liquid sake model module is going to be implemented we're still doing like the like studies about which implementation is better because we also want to support uh smart contracts to be able to stake on behalf of the users but also as part of like the d5 protocol and this is not something that is supported on other

liquid segment implementations that you see today on cosmos so we're doing our proper due diligence before we implement this but yeah so you will be able to use atmos and stake them and then use the stake atmos asset near c20 within the evm any other question okay well thank you very much thank you [Applause]