Stride Swap, IBC Protocol Stats, Initia Apps to Try & Berachain Boyco Airdrop
This week’s report highlights major updates from across the Cosmos ecosystem:
Stride Swap – The IBC-powered DEX
Babylon Bitcoin Staking – Now open to everyone
Initia – Cool apps to try out
IBC Protocol – Latest stats
Berachain – Boyco airdrop
Let’s dive in!
Major News
Stride Swap: The IBC-Powered DEX
Last week, the Interchain Foundation announced an investment in Stride to build out the IBC DEX and liquidity engine on top of the Cosmos Hub. This will serve as the liquidity foundation for DeFi on the Cosmos Hub and enable multichain trading for IBC Eureka assets.
The DEX is set to launch in Summer 2025, featuring:
Eureka integration
Multichain UX
Gas payments in any token
Advanced features (coming in Q3): Limit orders, DCA, liquid staking integration, and more
Stride will share 20% of its revenue, including from both the DEX and its liquid staking protocol, directly with the Hub. In practice, it’s even more impactful—80% of Stride's revenue will go toward initiatives that benefit the Hub, such as:
Providing LP incentives
Building an ATOM treasury
Encouraging Eureka chains to integrate and deploy liquidity on the Hub
Meanwhile, more chains like Coreum and Thorchain are connecting to the Hub and enabling IBC Eureka.
Bitcoin Staking Is Open To Everyone
For the first time since December 2024, new BTC can be staked using the Babylon Bitcoin Staking Protocol.
Stake your BTC with Babylon here
You can also stake your BTC natively via the Keplr Dashboard
Need help? Check out this guide by Seppmos from our team on how to stake your BTC on Babylon or migrate your Phase-1 stake to Phase-2:
Interesting Numbers & Charts
IBC Protocol Stats
IBC Protocol just launched a revamped website, showcasing some impressive metrics:
$1.99B in 30-day volume
1.85M transactions in the last 30 days
770K active users in 30 days
115+ connected chains
$58B+ in ecosystem market cap
Despite the market cycle, the Cosmos ecosystem continues to grow. Check out the new website here.
$77M USDN Issued On Noble
Over $77M USDN has been issued on Noble, backed by $79.9M in collateral. USDN is a fully backed dollar stablecoin tied to U.S. T-bills—and it pays you to hold it.
You still have 60 days left to deposit into Noble Vaults and earn 14.7% APY or stack Noble Points with your USDN. Wanna get started?
DeFi, NFTs & Apps: Cool Apps To Try On Initia
Intergaze: NFTs on Initia
Intergaze is an NFT marketplace on Initia, built by the Stargaze team.
Three Genesis collections on Intergaze are Racoons, Tuzi, and Anyo. Mint and trade NFTs on Intergaze to earn Initia VIP rewards.
Check it out here.
Need help? Watch the tutorial by Seppmos from our team:
Kamigotchi: Onchain Pet Game on Initia
Kamigotchi is an onchain game inspired by Tamagotchi, where you raise a pet, battle other players, complete missions, level up, and earn points.
Kamigotchi World is now live on Initia Mainnet. You’ll need ETH and INIT tokens to play the game.
Echelon: Cross-Chain Money Market
Echelon is a money market powered by MoveVM, live on Initia, Aptos, and Movement.
Currently, you can provide liquidity in INIT and USDC to earn esINIT rewards.
Check them out here.
Airdrops Alpha
Berachain Airdrop For Pre-Launch Depositors
If you deposited funds into Boyco—Berachain’s pre-launch vaults—your Berachain airdrop is now claimable!
Check and claim your allocation here. Your original pre-deposited funds can be claimed directly from the protocol you deposited into.
Good Reads, Minor News & Podcasts
Minor News
Ripple Connecting To IBC Through XRPL EVM On Testnet. Read the announcement here.
Mantra Recovery Plan and Next Steps. Read the details here.
Neutron Supervaults — reallocating capital every block, inspired by Hyperliquid’s HLP. Read the details here.
Stargaze Could Migrate To The Cosmos Hub. Check it out here.
Rushi Has Been Terminated From Movement Labs. Read the announcement here.
StreamSwap Is Now Permissionless On Osmosis. Check it out here.
Podcast
Neutron Interview With @0xSpaydh. Listen to the podcast here.