Mars Protocol Farm Vaults On Osmosis, Squid Enters the Cosmos Family, and Fortis Dog Castle Launched - CEC Issue #28
Dear readers,
Welcome to the latest issue of our Cosmos Network newsletter, where we bring you the latest news and updates from the Cosmos Ecosystem. Here are some of the top stories from the past few days:
Today, we will be covering
Mars Protocol Farm Vaults On Osmosis
Squid Enters the Cosmos Family
Fortis Dog Castle Launched
Mars Protocol Farm Vaults On Osmosis
The highly-anticipated Farm Vaults are set to launch on or around Feb. 27, 2023. They're like yield-harvesting robots that let you interact with smart contract systems in just a few clicks. Users can create their own vault with a custom strategy and leverage, and potentially boost their yields by borrowing from the Red Bank. This increases efficiency for users and creates more borrowing demand, attracting more depositors and making more assets available for borrowing.
Farm Vaults offers farmers the potential to earn more by leveraging their assets on the Osmosis liquidity pools. While there are risks such as liquidation and impermanent loss, the rewards can outweigh the risks with careful monitoring. Overall, leveraging through the Red Bank and Farm Vaults can be a powerful way to earn more on your farming activities. However, it's important to carefully consider the risks and monitor your positions to ensure that you're making the most of this opportunity.
Mars' most recent update has unveiled a groundbreaking innovation with the introduction of its credit manager. This designed contract grants Martians the ability to create and engage with credit accounts, leading to the emergence of new opportunities within the world of DeFi.
Squid enters the Cosmos Family
Here’s another exciting piece of news. Squid now lets you swap assets across various EVM chains on the Cosmos ecosystem with ease. With a single click, users can swap assets into a range of Axelar assets on supported chains. Squid uses decentralized exchanges (DEXs) like Uniswap and Curve to convert any token into Axelar's Cosmos-compatible stablecoin. From there, Squid bridges the asset to Cosmos for users, making it a breeze to access the ecosystem.
Squid is dedicated to achieving infinite interoperability through the power of Axelar. The Cosmos ecosystem is built for seamless interoperability, thanks to the Inter-Blockchain Communication Protocol (IBC) and Cosmos' app chain thesis.
Axelar is a Cosmos blockchain that connects the Cosmos and EVM ecosystems, among other things. Squid supports any Cosmos chain by default, and with an IBC relayer, any new chain can be supported. We're thrilled about what Squid can do for the Cosmos ecosystem and can't wait for you to explore its potential.
Fortis Dog Castle Launched
Here’s another exciting news! the Fortisoeconomia Dog Castle is now live on the Chihuahua Chain! And get this - you can stake your tokens and earn a whopping 1000% APR! Plus, if you're a HUAHUA token holder, an airdrop is coming your way soon!
But wait, there's more! When the DOG Token becomes available, HUAHUA holders will be able to adopt it from this link - how cool is that? And to top it all off, the transaction fees will be in HUAHUA Tokens, and guess what? 50% of those fees will be burned as part of the burning mechanism. So what are you waiting for? Check it out now!
Price Update (February 25, 7:00 UTC)
ATOM: 13.01
JUNO: 1.22
EVMOS: 0.3607
OSMO: 0.96
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Best regards,
Cosmos Ecosystem Chat Team