Cosmos is preparing to make its entrance into the interchain NFT market with the introduction of Stargaze, a new addition to its ecosystem. Stargaze is a decentralized application chain that has been developed on the Cosmos SDK, with a primary focus on NFTs. Its goal is to facilitate the expansion of the interchain economy by providing an easy-to-use NFT marketplace. This platform benefits creators, traders, and developers by implementing on-chain royalties and eliminating gas fees for minting and trading. Additionally, stakers can earn extra rewards from protocol fees.
Stargaze is pioneering interoperability and modularity with the use of IBC and CosmWasm, enabling secure smart contracts written in Rust. It simplifies the process of NFT creation and supports Interchain NFT transfers using ICS-721.
Stargaze is building on the Interchain Stack in order to lead the way in seamless connectivity and flexibility. It was one of the first platforms to integrate CosmWasm, a smart contract framework that enables the use of Rust. This integration adds an extra layer of security and allows developers to earn royalties. Stargaze has also adopted ICS-721, a standard used for NFT transfers across different chains.
In the broader context of the interchain, Stargaze aims to serve as an NFT marketplace that removes barriers for the creation and trading of NFTs across different chains. It addresses challenges such as high gas fees, low connectivity, and complex NFT transactions that are commonly found in other marketplaces. The platform’s main objective is to create a safe, accessible, and adaptable space specifically for small retail and consumer traders.
Stargaze’s app chain design allows for features such as Live Auctions, which are MEV-resistant NFT auctions that are settled entirely on-chain. This is in contrast to most other auction protocols that rely on keeper networks, which can hinder protocol revenue. Another innovative feature of the app chain architecture is the Stargaze Loyalty Program (SLP). It provides staking rewards and trading fee rebates to STARS stakers, a privilege that is typically exclusive to centralized exchanges. As an application chain, Stargaze manages its own fee system, allowing it to maintain a loyalty program.
The vision of Stargaze is to contribute to the development and stabilization of the interchain ecosystem by offering a seamless, secure, and experienced NFT marketplace. It aims to provide growth opportunities, staking rewards, and governance to investors. Additionally, Stargaze plays a crucial role in the ecosystem culture by preserving decentralization and encouraging participation from various players to shape the platform.