The open, scalable, and interconnected economy of the future. $ATOM
By now, you’re probably familiar with Emeris, the latest cutting-edge product developed by the Tendermint team. Blockchain agnostic, Emeris will expand far beyond the Cosmos network and eventually be a one-stop portal for all crypto apps — the interface of the Internet of Blockchains — no matter what blockchain they run on. Launched on August 17 in beta, the first iteration of Emeris provides users with a noncustodial dashboard to navigate the new and exciting world of cross-chain DeFi.
As further upgrades and improvements are rolled out in the coming weeks, Emeris will soon provide a mobile app and a browser extension wallet as well. Way beyond cross-chain token swaps, transfers, and participation in liquidity pools, Emeris will be a gateway to a wide range of applications, from DEXs, lending platforms, and yield farming, to NFT marketplaces, payment applications, data storage, and much, much more.
So, why is this latest addition to the Tendermint tech stack so important? What does the ability to manage all your crypto assets from different blockchain ecosystems in one place mean? In short, why does Emeris matter to Cosmos?
With the ever-increasing popularity of DeFi and the wide array of new financial opportunities outside of the existing legacy system, Emeris, integrated with the Gravity DEX protocol, will help take Cosmos DeFi to the next level. Because the future of DeFi isn’t constrained by the limitations of one blockchain. Yet, neither should it involve having to navigate a fragmented landscape of multiple dApps and services built on Ethereum alternatives.
Emeris will lift the user experience to new heights, helping to unleash the potential of Cosmos DeFi and taking it to a wider audience. With its intuitive interface, managing crypto assets from different chains is easy.
The significant DeFi user base on Ethereum will be able to experience Cosmos DeFi applications following the implementation of a secure trustless bridge on the Cosmos Hub, allowing tokens to flow freely between Cosmos chains and Ethereum. Emeris will open the floodgates to wider adoption for Cosmos DeFi by garnering a greater user base as well as higher liquidity derived from other chains.
In July, the Gravity DEX protocol launched on the Cosmos Hub, marking an enormous milestone for Cosmos DeFi with a cross-chain protocol allowing for the swapping and pooling of crypto assets among different Cosmos blockchains. As more Cosmos chains are added and the work on bridges to other ecosystems (including Ethereum, Polkadot, and Celo) is completed, the utility of the Cosmos Hub will increase exponentially.
Emeris is the connector between this highly advanced decentralized exchange protocol and the end-user. It is the portal allowing access to cross-chain DeFi and cross-chain interactions. As more and more users flock to the Cosmos Hub to engage in cross-chain DeFi, its utility will increase as transaction fees are paid in ATOM and the Cosmos Hub takes its place as the true port city providing connections to other blockchain hubs.
Governance is perhaps one of the least discussed advantages that tokens can provide. Yet, governance is crucial in decentralized blockchain applications and enables strong communities like Cosmos to form, giving token holders rights through its native ATOM token, a vote in the development of the platform, and the features and upgrades that the Cosmos Hub undergoes.
Governance is also a core differentiator when building a sovereign blockchain with Cosmos technology rather than creating a decentralized app on a Layer 1 solution like Ethereum and being subject to the rules and constraints of the base protocol. Despite its fundamental role, very few wallets currently support governance.
Cosmos is strongly committed to allowing communities to own their projects and collectively decide on their future development. That’s why Emeris will allow for on-chain governance for all supported chains, making it easier to form a meaningful part of your chosen blockchain community. Emeris will also offer the ability to stake on multiple chains using just one interface. This will make earning yield cross-chain more efficient and allow DeFi to scale for the next generation of users.
Cross-chain DeFi is just the starting point for Emeris. But, in reality, the Cosmos vision is so much wider and more inclusive. Emeris will be instrumental in helping our community to realize its vision of a multichain future, as the interface of the Internet of Blockchains, in which there will be a new world of apps and services beyond open finance that we’re only just scratching the surface of today.
At the core of the Cosmos vision of a sustainable interoperable future for blockchain is continued collaboration among our peers. That’s why Emeris is blockchain agnostic. Cosmos has never believed in cutthroat competition or forcing people to use our technology. Emeris can be integrated with any blockchain — and there will be multiple blockchain ecosystems — collaborating, interconnecting, and enabling the next web.
Also published here