Thanks Ronan! I think the future can be both Multichain and crosschain. I think in the near term one trade-off individual users will have to make to be crosschain (not just Multichain) is some level of centralized trust. But as our systems of coordination get better and more robust, I think we could transition to a more crosschain world. I cannot bring myself to believe that web3 is about limiting yourself to siloed ecosystems, or having to horse trade between ecosystems clumsily.
A good piece Michelle showing the practical challenges. I faced similar issues during Stargate’s launch/auction.
I suppose this is why Vitalik believes the future is multi-chain but not cross chain.
Clearly gas abstraction is also a pressing need.
USDC isn’t native yet on cosmos chains (it will be soon apparently). Until then, axlUSDC seems to be used but low in volume as you found.
I suppose - to cosmos’ credit - at least they have the IBC module in their sdk for any cosmos chain to adopt.
This avoids the need for any of these less secure bridges we see here with Stargate etc. Of course, not all chains are cosmos based...
Thanks Ronan! I think the future can be both Multichain and crosschain. I think in the near term one trade-off individual users will have to make to be crosschain (not just Multichain) is some level of centralized trust. But as our systems of coordination get better and more robust, I think we could transition to a more crosschain world. I cannot bring myself to believe that web3 is about limiting yourself to siloed ecosystems, or having to horse trade between ecosystems clumsily.