Original Title: "Noble: Cosmos Infrastructure for Native General Assets and RWA Issuance"
Original Author: TechFlow
Noble is an application-specific blockchain (Appchain) designed specifically for the issuance of native assets in the Cosmos ecosystem. This means that Cosmos can directly mint and burn assets on the Noble Appchain, without being forced to rely on token bridges to bring non-native assets into its ecosystem.
Noble Appchain was launched on March 27th, aiming to become a "world-class issuance center for interoperable digital assets". On Noble, not only can encrypted assets be issued, but real-world assets (RWA) can also be tokenized and issued.
The data shows that new listings, especially those of non-local assets, will attract more users and liquidity to enter Cosmos. Users must establish bridges to deal with non-local assets, but bridges usually only work efficiently when there is sufficient funding. A large amount of fund transfer may cause serious slippage, and users/protocols holding bridge assets are completely dependent on the security of their bridges.
Most non-native assets are not listed on the Cosmos bridge, limiting the potential for liquidity and affecting Cosmonauts on each Appchain.
This is especially true in terms of native stablecoin liquidity, and Cosmos was hit hard after the collapse of Terra $UST. Tokens such as $USDC, $wETH, $wBTC, and $DAI are all non-native/bridged assets that occupy most of Osmosis' liquidity and play a role in pools that generate most of the fees. However, the issuers behind these assets do not have a simple way to deploy them natively on Cosmos.
Noble completely changes Cosmos' dependence on bridging liquidity through its "specific issuance" blockchain. Protocols and companies can easily deploy their tokens on Noble using standard frameworks familiar to all blockchain developers, and tokens issued on Noble can seamlessly transfer within the IBC ecosystem.
Noble's infrastructure provides asset issuers with complete control, allowing companies like Circle and Tether to maintain their usual compliance models. The "gateway" built by Noble will greatly improve local liquidity for IBC, especially stablecoins.
Noble's Appchain is a super convenient way for any type of issuer, including institutions seeking to issue real-world assets (RWA). It seems inevitable that Noble will play a role in enterprise adoption within Cosmos.
Noble is built using the Cosmos SDK, which is a toolkit for building custom application-specific blockchains (Appchains) that run on the Tendermint consensus engine. Noble's Appchain is specifically designed for deploying token contracts and issuing digital assets.
Additionally, Noble supports IBC, allowing it to connect to over 50 other IBC Appchains within Cosmos. The network uses the "packet forwarding" middleware (the same as the recent v15 upgrade of Osmosis) to enable single transaction IBC transfers to any Appchain. This greatly improves the user experience of IBC transfers, as users no longer need to transact between multiple Appchains to reach their destination.
Noble was originally planned to be launched with Interchain Security, but the team decided to wait until ICS has been tested over time before adopting it on Noble. Interchain Security is a consensus infrastructure that allows IBC Appchain to "rent" Cosmos Hub validators to protect their chain (instead of using their own validator set). Concerns about ICS mainly focus on the fact that the reduction is not automatic, but rather approved by Hub governance voting.
Meanwhile, Noble will use the Proof of Authority (PoA) consensus mechanism. In order to make PoA the best alternative before ICS, multiple trusted Hub validators have been selected for PoA validation. Misbehaving validators will be permanently removed from the Noble validator set. The 5/7 multisig organized by the Cosmos community will also be able to push updates to the chain (which can be rejected by 1/3+ of validator votes).
Gas fees can be paid with any Cosmos asset, including assets issued on Noble. As $USDC will be the first token to be launched, it will be the primary Gas token until more assets are deployed on Noble.
New assets are added to the chain through 5/7 multi-signature voting. Issuers can easily deploy their tokens on Noble using the convenient TokenFactory framework provided by Osmosis. TokenFactory allows all issuers to customize and control their assets according to their own standards.
On Noble, you can issue both cryptocurrency assets and tokenized real-world assets (RWAs). This makes Noble the first infrastructure specifically designed for the issuance of general assets, which may be of interest to institutions such as banks. RWAs have many potential benefits for traditional markets, such as reducing costs, increasing transaction speed, increasing transparency, fractal ownership, and making the market more accessible, as explained in a 2020 article (PDF) by the Organisation for Economic Co-operation and Development.
Through IBC, Noble can connect to dozens of other Cosmos Appchains that support IBC.
Circle is the first issuer to launch its $USDC stablecoin native issuance on Noble, coupled with Circle's interoperability protocol, this could bring a significant amount of new stablecoin liquidity to the IBC ecosystem.
The Noble team has confirmed that they are in talks with other asset issuers, including RWA issuers.
Frax Finance's founder also mentioned the conversation with Noble, which will provide Cosmonauts with a new decentralized stablecoin option and a channel for $FRAX holders to enter the IBC ecosystem.
1. The Noble team is composed of the most respected talents in Cosmos, including Zaki, Jelena, Jack, and Stefan.
2. Technical development and promotion are currently guided by Strangelove, which is a builder organization behind countless influential IBC innovations.
3. Noble is establishing an internal technical team to manage the development and maintenance of the chain, and will continue to maintain a formal partnership with Strangelove.
$FRNZ Price: N/A
Circulating Supply: N/A
Total supply: 500
Market Cap: N/A
< p > $FRNZ token will be issued by Noble, specifically for exchanging a physical item. It does not mean that it is Noble's native token, but is intended to showcase the functionality of the chain and generate enthusiasm for Noble's uniqueness.
The total supply is very limited, so each $FRNZ token can be divided into 1 million "microfrienzies".
On April 3rd, 300 $FRNZ tokens, or 300 million microfrienzies, will be airdropped to users on 10 chains from the snapshot taken on March 27th.
Noble will provide 100 $FRNZ tokens as liquidity on Osmosis, Kujira, Wynd, and Crescent, and reserve 100 $FRNZ tokens as "miscellaneous reserves" for distribution to the wider Cosmos community and to supplement the liquidity of $FRNZ.
1 FRNZ token can be exchanged for a Noble physical bracelet, and anyone can burn 50,000 Microfrienzies to get on the whitelist for special Noble NFTs available on Stargaze. The bracelet exchange will be conducted through the Swift Protocol on Juno.
Noble's universal asset issuance chain is an important step for the Cosmos ecosystem. Cosmonauts on each Appchain can now enjoy more IBC-native liquidity, which is a benefit brought by Noble.
Not only that, Noble can also become an important aspect adopted by blockchain institutions and enterprises. Its potential is unlimited, and all of this is built on top of Cosmos.
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