The Interchain Foundation is a nonprofit organization that has been created to drive growth within the Cosmos Ecosystem. It has committed $26.4 Million to support Interchain Stack in its development and implementation in 2024.
This is a significant decrease from previous years. In 2023 the ICF budgeted $40 million for the ecosystem and spent $54.1 in 2022.
ICF funding has generally been divided into five main areas of the Cosmos eco-system. This includes the software for the consensus layer CometBFT as well as the Cosmos SDK, Interblockchain Communication protocol, CosmWasm smart contracting platform, and CosmJS programming language.
Informal Systems will receive approximately $3 Million from the foundation for their work on CometBFT. ICF stated that Informal Systems had been maintaining this software, and its predecessor Tendermint Core since 2022. The funding will help Informal Systems improve the modularity of ComeBFT.
Binary Builders has been awarded a preliminary $3.5 Million from ICF. Zondax is receiving approximately $1,000,000 to enhance the Cosmos SDK, which allows developers to construct their own Cosmos chains.
Informal Systems GmbH and Strangelove Labs have received $7.5 million to help expand and grow the IBC.
Confio GmbH, a German company specializing in smart contracts frameworks and intelligent contracting softwares, will get $2.5 Million for their work. Cosmology Inc. will receive $155 Thousand to help make CosmJS robust.
A further $1.5 million is allocated for audits of the interchain stack. The remainder, approximately $7.2 million, will go to a strategic reserve.
Blockwork did not receive a response from the ICF before publication.
Wider Cosmos moves
During the last few months, Cosmos has been home to a number of projects.
Stride’s liquid staking zone proposed a merger with Cosmos Hub in October by converting STRD into ATOM, the governance token of Cosmos. Ecosystem participants rejected the proposal later, believing ATOM must remain neutral.
After that, Osmosis (the largest decentralized trading platform on Cosmos) decided in December to merge with the cross-chain loan protocol Umee. The teams have been discussing ways to integrate the product codes. “call to action” In the near future, we can expect a new proposal.
In the same month, Neutron, a smart contracting platform, revealed it purchased 25 percent of Confio GmbH – which is building CosmWasm. Neutron has also rebranded itself into the Integrated Application Network.
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