KEY TAKEAWAYS
- The Interchain Foundation has acquired Skip, rebranding it as Interchain Inc. to enhance its engineering and product strategy within the Cosmos ecosystem.
- This acquisition marks a shift towards a centralized product development model, focusing on the Cosmos Hub as the ecosystem’s core.
- Interchain Inc. aims to boost liquidity and user engagement, leveraging its strong developer community ties.
- The ICF plans a strategic overhaul by the end of the year, with a live-streamed town hall scheduled for December 12 to discuss future plans.
The Interchain Foundation (ICF) has announced the acquisition of Skip, a prominent team within the Cosmos ecosystem. This strategic move aims to enhance the ICF’s engineering, product strategy, and execution capabilities. As part of the acquisition, Skip will be rebranded as Interchain Inc., becoming the primary subsidiary of the ICF. The leadership of Interchain Inc. will be spearheaded by Skip co-founders Barry Plunkett and Maghnus Mareneck.
The ICF will continue to operate as a Swiss Foundation, with plans to expand its Foundation Council. Ethan Buchman, co-founder of Cosmos, will step down from his council seat but will remain involved in the ecosystem. The acquisition signifies a shift from the ICF’s previous distributed product development model to a more centralized approach, focusing on the Cosmos Hub as the core of the ecosystem.
Focus on Liquidity and Ecosystem Growth
The ICF’s new strategy emphasizes increasing liquidity within the Cosmos ecosystem. Liquidity is seen as a crucial factor affecting developer experience, application quality, and user onboarding. By leveraging deep liquidity, the ecosystem aims to attract more users and developers, fostering growth and innovation.
Interchain Inc. will play a pivotal role in this transition, with a mission to significantly boost liquidity and user engagement. The ICF’s decision to integrate Skip was based on the team’s reputation for building widely-used products and their close ties to the developer community.
Future Plans and Community Engagement
As part of the restructuring, the ICF will focus on unifying the Cosmos Hub, stack, and ecosystem to drive expansion. The development of the Interchain Stack will remain open-source, encouraging external contributions. The ICF plans to collaborate closely with existing stewards to ensure a smooth transition of responsibilities.
The ICF and Interchain Inc. are preparing for a strategic overhaul by the end of the year, aiming to position themselves for growth in 2025. A live-streamed town hall is scheduled for December 12, featuring key figures such as Josh Cincinnati, Maxime Monod, Maghnus Mareneck, Barry Plunkett, and Ethan Buchman. This event will provide further insights into the ICF’s future plans and strategies.
For more details, the official announcement can be found here.
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