IBC Eureka Value Proposition / Elevator Pitch

A single IBC connection to the Cosmos Hub gives your chain access to assets from every crypto ecosystem everywhere with just one click.

Aggregators are dominating volumes

Today, only about 15% of total DEX volumes are routed through the frontend of the DEX (Osmosis, Uniswap, Raydium, Meteora, etc) itself.

The vast majority of DEX volumes stems from third party aggregators, wallets, arbitrage trades, and APIs.

Hence, the vast majority of people using Stride Swap won't even notice that they're using it! Most users will interact with Stride via go.cosmos.network, directly from their wallets or the Skip API.

Stride Swap

Stride is a DEX leveraging IBC Eureka built on the Cosmos Hub. Its goal is to have the best execution and deepest liquidity for major pairs like ETH/USDC so that cross-chain transfers, initiated by DEX aggregators, are routed through Stride and IBC Eureka rather than Axelar and other DEXs.

Order Flow > Liquidity

The ultimate goal for any DEX is to become the best venue to trade. Thus, a DEX is not really attracting liquidity but order flow.

Due to Stride's close relationship with the Cosmos Hub and Skip.go (now Cosmos.go) the DEX can launch with big order flow from day one.

But who will see initial liquidity on Stride?

Stride is working with various partners that want to deploy liquidity as the DEX goes live. Moreover, professional market makers and the ICL/ICF have expressed interest in deploying liquidity at launch.

ATOM Value Accrual

1) There will be a fee attached to Eureka transfers (not the case right now) that can be used to buy and burn ATOM.

2) In addition, a portion of swap fees on Stride (20%-50%) will flow back to $ATOM holders. (This fee can be used to buy and burn more ATOM)

The Cosmos SuperApp

Cosmos' most underutilized resource is arguably the cosmos.network domain. It could be transformed into a SuperApp composed of Cosmos Hub DeFi applications.

A streamlined UI to interact with the suite of DeFi applications on the Hub, serving nearby appchains and the internet of blockchains.

Other key insights:

• Stride is aiming to go live in July.

• Native lending protocols, perps, DeFi management protocols, and many more apps are coming to the Hub.

• If the team execute well on Stride and Eureka, Osmosis will be able to increase their TVL and order flow by 10x.

• Polaris is such a cool product, and it will be one of the main aggregator partners for Stride.

• Stride Zone is most likely going to migrate to PSS (ICS 2.0).

• Stride will have native vaults where people can deposit assets and passively earn swap fees.

Thanks for reading folks!

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

Disclaimer

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