August 4, 2023
Upon Mars’ Red Bank launch on Neutron approx. 72 hours ago, Mission Control initiated contact with Neutron builder Spaydh. Below, he shares his thoughts on the launch, the rise of Ethereum L2s, bear markets, and the future for Mars, Neutron and the wider Cosmoverse.
Neutron is secure and interchain by nature. Neutron has been a top-10 blockchain by proof-of-stake security since block one, thanks to Replicated Security, which also closely aligns the network with the Cosmos Hub's community, user base and liquidity. Neutron also features cutting-edge, cross-chain infrastructure. With it, anyone can deploy once and build an app that can scale across the entire IBC network.
How much IBC UX sucked 😁 Jokes aside, I was blown away by how quickly the Cosmos community has rallied around the project. People often say that Cosmos is a toxic ecosystem to be building in, but I couldn’t disagree more.
Mars should allow the market to become more expressive, by enabling both long and short positions. There are powerful synergies with the rest of the ecosystem (e.g. with Apollo, Astroport, etc) – especially given Neutron's focus on liquid staking with Stride, wstETH, Lido on Cosmos and others. Leveraged staking is one of the use cases that have helped the growth of DeFi in other ecosystems, and Cosmos seems well positioned to stand to benefit from it as well. Longer term, I’m excited about more complex products such as delta neutral strategies, hedges, fixed-yield products and yield splitting that composing with Mars’ credit lines could enable.
Cosmos has done a great job at building very fundamental technologies early on, and refining them iteratively. We’re at a stage now where these technologies are ready for primetime, although UX can still be improved. Fortunately, we’re seeing a new wave of great builders like Skip or Levana that are taking these technologies and turning them into great products. I think it’s time for Cosmos to focus on products, user activation and generally demonstrating what the tech can do for users.
I think there may be a resurgence of OG narratives (e.g. crypto as infrastructure for the payments graphs) now that we have the right infrastructure to properly scale with appchains, rollups, etc. That's the killer onboarding mechanism in my opinion.
I learn everyday. I'm somewhat obsessive about learning new things and understanding complex mechanisms. I get nerd-sniped easily. Cryptography and DeFi is basically a daily nerd snipe to me. Plus, I love the people in the space. Cosmos' social layer is absolutely awesome: full of visionary builders who are fun to hang out with.
Depends on the DAO! At Hadron Labs though, we’ve been working on bringing Ethereum and Cosmos-based LSDeFi to Neutron, developing mechanisms to expand the DAO, distribute voting power and empower more community members to become contributors. We’re excited about Celestia, and working on groundbreaking infrastructure that could make Neutron a much more powerful platform to trade on or settle to.
Read the docs at docs.neutron.org and hop onto our builders chat (linked below) so we can give you the support you need!
Begin your journey to Mars on Neutron now at neutron.marsprotocol.io.
Mars is a novel interchain credit protocol primitive that enables non-custodial borrowing and lending for the Cosmos ecosystem and beyond. Its hub and outpost architecture allows Mars to operate on any chain in the Cosmoverse, and enables a new primitive: the Rover. Launching with Mars v2, Rovers can give their pilots DeFi superpowers to engage in virtually every governance-approved activity they might encounter on a centralized exchange: spot trading, margin trading, lending and borrowing — all in a single decentralized credit account represented by a transferable NFT. Explore Rovers now in the Mars v2 Whitepaper.
Remember, Cosmos, Osmosis, Neutron and Mars are experimental technologies. This article does not constitute investment advice and is subject to and limited by the disclaimers and other information contained or referenced in the Mars FUD Bible which you should review before interacting with the protocol.