Bitcoin
Bitcoin (BTC)
$57,838.00 1.11818
Bitcoin price
Ethereum
Ethereum (ETH)
$3,129.06 1.28583
Ethereum price
BNB
BNB (BNB)
$533.37 1.95809
BNB price
Solana
Solana (SOL)
$138.93 1.77738
Solana price
XRP
XRP (XRP)
$0.4758810 6.22622
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000164 1.23419
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -2.11961
Pepe price
Bonk
Bonk (BONK)
$0.0000223 -4.74067
Bonk price
Bitcoin
Bitcoin (BTC)
$57,838.00 1.11818
Bitcoin price
Ethereum
Ethereum (ETH)
$3,129.06 1.28583
Ethereum price
BNB
BNB (BNB)
$533.37 1.95809
BNB price
Solana
Solana (SOL)
$138.93 1.77738
Solana price
XRP
XRP (XRP)
$0.4758810 6.22622
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000164 1.23419
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -2.11961
Pepe price
Bonk
Bonk (BONK)
$0.0000223 -4.74067
Bonk price
Bitcoin
Bitcoin (BTC)
$57,838.00 1.11818
Bitcoin price
Ethereum
Ethereum (ETH)
$3,129.06 1.28583
Ethereum price
BNB
BNB (BNB)
$533.37 1.95809
BNB price
Solana
Solana (SOL)
$138.93 1.77738
Solana price
XRP
XRP (XRP)
$0.4758810 6.22622
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000164 1.23419
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -2.11961
Pepe price
Bonk
Bonk (BONK)
$0.0000223 -4.74067
Bonk price
Bitcoin
Bitcoin (BTC)
$57,838.00 1.11818
Bitcoin price
Ethereum
Ethereum (ETH)
$3,129.06 1.28583
Ethereum price
BNB
BNB (BNB)
$533.37 1.95809
BNB price
Solana
Solana (SOL)
$138.93 1.77738
Solana price
XRP
XRP (XRP)
$0.4758810 6.22622
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000164 1.23419
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -2.11961
Pepe price
Bonk
Bonk (BONK)
$0.0000223 -4.74067
Bonk price

Noble and Celestia partner to introduce native Cosmos stablecoin

noble-and-celestia-partner-to-introduce-native-cosmos-stablecoin
Edited by
News
Noble and Celestia partner to introduce native Cosmos stablecoin

Noble and Celestia have announced their partnership to bring native stablecoin utility, notably Circle’s USDC, into the Cosmos ecosystem, a development expected to enhance liquidity and reduce volatility risks.

In the DeFi landscape, the role of stablecoins as facilitators of liquidity is pivotal. The lack of volatility risk they bring allows for seamless value transfers.

Networks such as ethereum and solana have thrived on this premise, having access to robust stablecoin utilities. However, the same can’t be said for cosmos, known as the “internet of blockchains”, which, until recently, didn’t have a native stablecoin.

https://twitter.com/richboy_btc/status/1663757409540804609?s=20

Noble and Celestia, two key players in the field, have joined forces to address this issue. Noble, an asset issuance chain, and Celestia, a data availability layer, are bringing native stablecoin utility to the cosmos ecosystem.

On the 0xResearch podcast, Sam Martin, a research analyst at Blockworks, highlighted that the partnership between Noble and Celestia aims to facilitate the creation of native USDC for any chain using Celestia as a data availability layer.

Martin asserted that this is a vital move for the DeFi ecosystem, given the indispensable role of stablecoins like USDC and USDT. These tokens, which hold a steady value tied to fiat currency, allow investors to generate yield on digital assets while mitigating market volatility risks.

He also pointed out the lack of native stablecoins has been a primary concern for cosmos, but with the introduction of USDC, he anticipates a significant reduction in liquidity fragmentation.

Ryan West, another research analyst at Blockworks, concurred with Martin, lauding the development as a game-changer for cosmos. The lack of a native stablecoin, West suggests, has stymied the growth of DeFi within cosmos, despite its longstanding presence.

West posited that the use of Circle’s USDC stablecoin, enabled through Celestia’s data availability layer, is poised to exponentially boost the ecosystem’s growth.

Celestia, a layer-2 rollup, leverages light nodes to verify public transaction data availability, bypassing the need for downloading entire block data. This mechanism, termed “data availability sampling”, has been defined on the company’s website.

In West’s view, this development is set to re-energize the cosmos ecosystem.