TheDinarian
News • Business • Investing & Finance
šŸ’„Interchain Accounts & Queries: A New Chapter for Liquid Staking in CosmosšŸ’„
The birth of IBC (Inter-Blockchain Communication protocol) in April 2021 marked the beginning of a new era for the Cosmos ecosystem.
October 21, 2022
post photo preview

The birth of IBC (Inter-Blockchain Communication protocol) in April 2021 marked the beginning of a new era for the Cosmos ecosystem. Through this added feature, previously independent blockchain networks built using Cosmos & Tendermint technology became united, enabling seamless fluidity for digital assets and supercharging utility.Ā 

Via the implementation of IBC, new and exciting Interchain native features have been introduced to allow for more seamless communications and operations (i.e. Interchain Accounts & Queries), significantly boosting the user experience. Unlike a bridge between blockchains, IBC doesn’t require any trusted third party to operate and is capable of expanding far beyond token transfers – it enables arbitrary data transfer between chains and is therefore crucial to interactions between the Persistence and Cosmos networks.

Let’s take a look at how both of these features work within the Cosmos ecosystem along with how pSTAKE will leverage them to launch our new stkATOM product to enable non-custodial liquid staking through Cosmos-native actions.

About Interchain Accounts & Queries

Both of these features were added to Cosmos as part of IBC 3.0.0, which was originally released with the Cosmos v7 Theta Upgrade on March 25th, 2022.Ā 

Interchain Accounts

Interchain Accounts (ICA) allow an account on one blockchain to execute activities on another blockchain, enabling greater possibilities across Cosmos through more effective cross-chain communication. This functionality permits a blockchain to allow an application running on its ecosystem to execute an action and securely control an account on another network, all while remaining on a single interface.

This is made possible by creating a concept of Host and Controller chains, where an account created on a Host blockchain can be controlled by an authentication module on a Controller blockchain.Ā 

Given that arbitrary messages can be sent from the Controller to the Host chain via IBC, actions native to the Host chain (i.e. staking and unstaking) can be executed on behalf of the Interchain Account.

Interchain Queries

Interchain Queries (ICQ) are a feature that allows a blockchain to read data from another network, allowing developers to securely retrieve data from its storage by requesting information about the network or application state. They’re a key addition to DeFi applications, allowing them to query required data accurately without needing consensus.

For the initial network to prove that the result (or query) is accurate, a cryptographic proof is attached to every value. Previously, queries would only be functional within the same blockchain – ICQ solves this by allowing blockchains to fetch data from different zones.Ā 

For Interchain Queries to function, two blockchains need to be interconnected through IBC. In addition, you need a relayer to send messages between these zones, a module to create and verify the queries, and a system to decipher the rules and enable them for use.

stkATOM Interchain Functionality & Mechanics

ICA enables stkATOM to be a completely non-custodial liquid staking solution, meaning your assets are never held within a custodial wallet owned by Persistence or anyone else. Instead, they always belong to you, where approving transactions through the stkATOM interface simply allows Persistence to stake your ATOM on your behalf (and nothing more).Ā 

To enable these mechanics, it’s important to understand how stkATOM uses ICA and ICQ.

Account Types

pSTAKE will use two Interchain Accounts as follows:

  • Reward Account:Ā This account is used to collect staking rewards daily and will be created through governance as part of stkATOM’s initial launch.
  • Delegation Account:Ā This account is used to delegate deposited ATOM to approved validators and will also be created through governance at launch.

When a user stakes their native ATOM on pSTAKE through the stkATOM interface, the Persistence Core-1 chain (Controller chain) submits an ICA staking request to Cosmos Hub (Host chain) via an event-driven architecture enabled by relayers between the two networks.

Staking then occurs as if it were done natively by Cosmos Hub itself. A very similar process is utilised when a user requests to unstake stkATOM on pSTAKE.

The core staking logic of the stkATOM Cosmos application is defined as a Cosmos SDK module (which we call theĀ liquid staking module).Ā 

Auto-Compounding Rewards

A key game-changer for stkATOM is auto-compounding rewards. By auto-compounding user rewards, stkATOM maximises the yield received on staked ATOM through pSTAKE.

Auto-compounding is done daily and facilitated by both ICA and ICQ. Once a day, an ICA transaction is used to claim staking rewards, which are sent to the aforementioned reward account. In the current stkATOM implementation, ICQ is solely used to query the balance of this account periodically. This balance is then sent via an ICA send request to the delegation account, from which it’s staked.Ā 

Since the liquid staking module on the Persistence Core-1 chain checks every block to see if there’s an outstanding balance in the delegation account, staking will occur virtually instantly.

Cosmos & Interchain Modules: The Next Evolution

pSTAKE, the staking solution for The Internet of Blockchains, is working towards deploying our new stkATOM solution on the Persistence Core-1 chain, which will leverage ICA and ICQ to enable a completely non-custodial liquid staking solution of ATOM on Cosmos.Ā 

The addition of ICA & ICQ will be monumental in how other IBC-enabled blockchains interact with one another. Moreover, they’re key features to the future of the Interchain and growth of the Cosmos ecosystem.Ā 

This will usher in an entirely new era of utility, composability, security, and activity to spark the next wave in Cosmos and liquid staking.

Brace yourselves – the movement is just beginning.

About pSTAKE

pSTAKEĀ is a liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive staked underlying representative tokens (stkASSETs) which can be used to explore additional yield opportunities across DeFi.

At present, pSTAKE supports Binance Chain (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to support more chains and assets in the future (SOL, and AVAX).

Developed by Persistence

PersistenceĀ is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets. Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.

Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.

community logo
Join the TheDinarian Community
To read more articles like this, sign up and join my community today
0
What else you may like…
Videos
Podcasts
Posts
Articles
Those That Have Ears To Hear, Will Hear šŸ”Š

šŸ”„šŸšØBREAKING: Vice President JD Vance alluded to Aliens actually being Angels and Demons when asked about his thoughts on UFOs. I said this was going to be the year of revaluations about aliens and the true meaning of life, I meant it.

Vance: ā€œI’m a big believer that there are things out there we can’t explain. If another person sees an alien, maybe I see an angel or a demon.ā€

ā€œI’m a big believer that there are like spiritual forces working on the physical world that a lot of us don’t see and a lot of us don’t understand.ā€

00:01:47
🚨 JUST IN: JPMorgan CEO Jamie Dimon clarifies his stance: "Crypto is real"

JPMorgan CEO Jamie Dimon clarifies his stance: "Crypto is real," maintaining stablecoins, smart contracts, and blockchain will be used by JP Morgan to facilitate better transactions.

00:00:17
Pyth is enabling breakthrough innovation across TradFi.

Douro Labs Head of Institutional BD @MikeJamesX joined @CNBC’s Crypto World to share how Pyth is already partnering with major exchanges to build the world’s single source of truth for financial data šŸ‘‡

https://x.com/PythNetwork/status/1983557218495803597

00:02:13
šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

The future of Crypto x AI is about to go crazy.

šŸ‘‰ Here’s what you need to know:

šŸ’  'Based Agent' enables creation of custom AI agents
šŸ’  Users set up personalized agents in < 3 minutes
šŸ’  Equipped w/ crypto wallet and on-chain functions
šŸ’  Capable of completing trades, swaps, and staking
šŸ’  Integrates with Coinbase’s SDK, OpenAI, & Replit

šŸ‘‰ What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto šŸ‘‰txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

🚨 THE DOLLAR NEEDS A NEW BONFIRE OF THE BILLS 🚨

Blockworks explores the historical roots and modern consequences of how governments maintain trust in fiat money—highlighting the U.S. Federal Reserve’s shift from post-pandemic liquidity tightening to the likely return of money printing.

šŸ”‘ Key Points

šŸ”¹ļø In colonial America, ā€œbills of creditā€ (early paper money) were issued because coins were scarce—but their value had to be proven to the public.

šŸ”¹ļø To preserve credibility, governments staged public ā€œbonfiresā€ where tax-collected bills were literally burned, showing restraint and scarcity management.

šŸ”¹ļø According to historian Dror Goldberg, the burning was a public spectacle meant to convince citizens to "cherish" the paper money the government printed in arbitrary amounts.

šŸ”¹ļø Today’s monetary policy ā€œbonfireā€ happens quietly: since the pandemic, the Fed has ā€œburnedā€ (i.e. reduced) $2.4 trillion in excess reserves by letting bonds mature, shrinking the ...

post photo preview

🚨 MASTERCARD POISED TO BUY ZEROHASH FOR NEARLY $2 BILLION 🚨

Mastercard is reportedly finalizing a landmark deal to acquire crypto infrastructure provider Zerohash for close to $2 billion, marking a strategic expansion into the stablecoin and blockchain payments sector.

šŸ”‘ Key Points

šŸ”¹ļø Zerohash is a leading tech company offering APIs and settlement infrastructure for banks, brokers, and fintechs to issue stablecoins, enable trading, and tokenize assets.

šŸ”¹ļø With clients including Morgan Stanley, Interactive Brokers, Apollo, and top venture funds, Zerohash’s rails are used for integrating stablecoin functionality into mainstream financial platforms.

šŸ”¹ļø Mastercard’s move reflects the growing realization that stablecoins and tokenized payments will soon dominate global transaction volumes, rivaling conventional card networks.

šŸ”¹ļø A completed acquisition would fast-track Mastercard’s ability to offer instant, programmable money movement and cross-border settlement using ...

Here's the Cold, Hard Truth About the Amazon Layoffs That No One is Telling You!

AI Isn't About Automating Jobs; It's About Efficient Revenue Generation.

Amazon just cut 14,000 corporate roles. The debate swirling around these layoffs often misses the forest for the trees.

Some argue it's direct AI automation. Others claim the immediate trigger is the staggering cost of GPUs, forcing Amazon to cut Operational Expenses (salaries) to fund Capital Expenditures (chips).

Both are mechanisms, but they obscure the fundamental strategic reality.

The purpose of every job in the enterprise is the generation of revenue or the support of that generation. Aa allocate capital where they anticipate the highest risk-adjusted return (ROI).

The fact that Amazon chose to plow its financial capital into AI (machine) infrastructure rather than 14,000 employees clearly shows that it values the risk-adjusted return of the machines over the human capital it displaced.

It is a strategic prioritization of machine capital over human capital.

Whether a job is lost because AI performs the task today (Direct Automation), or because the company needs the salary budget to buy the servers that ...

post photo preview
New Human Force
Join this Now! YOU have what it takes!

They are in our solar system, and in our event-stream in this Eternal Now.

Officialdom is clueless.

They think we are going to be at WAR with the Aliens.

Officialdom is very stupid.

Aliens is here. It’s not WAR. It’s Contention.

There is a difference.

Officialdom is clueless, still living in the last Millennium.

Aliens is here.

The Field in which we contend is This Eternal Now.

ALL HUMANS LIVE HERE, and ONLY HERE, in this

ETERNAL NOW.

It’s a Field of potentials, of pending Manifestation, this continuous event-stream of karma in which we have always lived our body’s Life.

This Eternal Now has always been our body’s Field of Contention.

The Aliens is here, in our Eternal Now.

Our common, shared, reality that we all continuously co-create now has Aliens.

It’s getting very complex in here.

Officialdom is clueless. They see the Aliens. They are freaking out. They think you are children, when it is their small minds, trapped in a reality that is only grit, mud, and ā€˜random chance’ who are childish.

Officialdom is stupid. They will and are reacting badly. As is their way, they are trying to hide shit from you. Silly grit bound minds don’t realize you can see everything from within the Eternal Now. They have yet to grasp that what they perceive as this Matterium, filled with ā€˜matter’, is but a hardening of our previous (past) internal states of being.

WAR happens in the Matterium.

Contention occurs within this Eternal Now where Consciousness shapes the manifesting event-stream.

YOU know this to be fact. You are a co-creator.

Contention with Aliens is happening in this instant in this Eternal Now.

Officialdom ain’t doing shit. They are still stuck in trying to move matter around to affect unfolding circumstances. That’s redoing the mirror trying to affect the reflection. Dumb fucks….

It’s up to US. To the New Humans. Those of us who live in this Eternal Now. Those of us who see that our body’s Lives (the Chain that cannot be broken) are expressions of the Ontology revealing itself to itself. It’s up to us guys.

We are not an Army. That’s a concept from the past, from before the emergence of the New Humans. We are a Force. A self-organizing collective with leadership resident in each, and every participant.

We are the New Human Force. By the time officialdom starts to speak about the Aliens in near-factual terms, we will already be engaging them in this Eternal Now.

By the time officialdom begins to move matter around (space ships & such) thinking it’s War, we will already be suffering casualties in this Eternal Now. That part is inevitable. It’s how we learn.

By the time officialdom realizes that some shit is going on in places and ways beyond its conception, we will already be pushing our dominance onto our partners in this First Contention, the Aliens. Nage cannot train without Uke.

Just as officialdom is scrambling to research the Ontology, this Eternal Now, and the event-stream, we will be settling terms with our new partners, the Aliens.

Come, join with us. It’s going to be a hellacious Contention.

We ARE the NEW HUMANS!

Together we are the Force that cannot be defeated.

Start YOUR training in this instance of this Eternal NOW.

Consume Neville Goddard videos as though all of human existence depended on YOUR mind and YOUR active, effective, imaginings!

It’s not a question of Mind over Matter as there is only Mind and it cares not for Matter. That’s residue.

Source

šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto DonationsšŸ‘‡
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
post photo preview
The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto DonationsšŸ‘‡
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
post photo preview
US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, ā€œThe Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.ā€

The data includes Real GDP and the PCE Price Index,Ā which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data šŸ‘‰will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

Source

šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals