About the COSMOS ecosystem, I talked about it quite a bit around 2019. On one hand, it was because I still held ATOM at that time, and on the other hand, I was optimistic about the so-called cross-chain ecosystem at that time.

In the cross-chain ecosystem at that time, COSMOS and Polkadot were both considered "king" projects of that year. Therefore, when discussing the cross-chain ecosystem at that time, I often compared these two ecosystems.

But later, as I gained a deeper understanding of Ethereum, I found that in that era, the real cross-chain demand was only between two chains: Bitcoin and Ethereum.

Both COSMOS and Polkadot did not address this issue well. Instead of solving the cross-chain between Bitcoin and Ethereum in a decentralized manner, they were creating new chains, or more precisely, providing users with a set of tools (COSMOS's SDK and Polkadot's Substrate) to easily create a new blockchain.

In that era, I believed that we didn't need so many main chains; what we needed was an extension of Bitcoin and Ethereum, which is what we now know as the second-layer scaling solutions.

After this shift in my understanding, I gradually became less optimistic about the development of COSMOS and Polkadot.

In addition, in 2019, there was internal strife within the founding team of COSMOS. In my opinion, this has a very serious impact on the long-term development of a project.

Under the influence of these factors, I decisively sold off all my ATOM holdings.

Since then, I have not paid particular attention to the development of COSMOS and Polkadot because I believe that the scenarios they depict are not genuine demands.

Last year, COSMOS caught my attention again because of another project: Celestia, a modular blockchain built using the COSMOS toolkit.

The reason I am interested in Celestia is mainly because it targets a thorny issue that needs to be addressed in Ethereum: data availability.

With the current design of Ethereum, as the transaction volume increases, storing more data on Ethereum will make it unsustainable.

Celestia attempts to create a blockchain dedicated to data availability, separating the data availability function from Ethereum.

I cautiously hold an optimistic attitude towards this concept.

I still believe that for projects with high security requirements, data availability must remain on Ethereum. However, for projects with less stringent security requirements, perhaps placing data availability on these modular blockchains is worth a try.

So, I have been closely following the development of Celestia and learned that it is built using the COSMOS toolkit.

This has made me pay attention to the development of COSMOS again.

Later, Celestia generously conducted an airdrop, which not only covered users in the Ethereum ecosystem but also users in the COSMOS ecosystem. After the airdrop, the token price not only remained strong but also continued to rise.

This move has created a fairly positive atmosphere for the entire crypto ecosystem.

With Celestia as an example, many modular blockchains that are in progress or about to launch are also using the COSMOS toolkit to build their own solutions and planning generous airdrops.

I estimate that these upcoming airdrops will also benefit users who hold and stake ATOM.

It can be imagined that since the start of Celestia and the upcoming projects built using the COSMOS toolkit, the airdrops will not only benefit these projects themselves but also benefit ATOM.

However, all these factors that benefit ATOM do not come from COSMOS's original "cross-chain" business, but from the new businesses related to the Ethereum ecosystem derived from its toolkit.

Perhaps this is the best interpretation of "if you plant a tree with your heart, it will not blossom; if you plant a willow without your heart, it will flourish" in the crypto ecosystem.

As for the future of COSMOS, I still don't have much confidence in its "cross-chain" core business. Instead, I will focus on how its toolkit will be used to build other applications and the price support factors that the ATOM token may receive in those applications.

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