The Cosmos ecosystem faces severe challenges, and Anoma's founder bluntly states that the current situation is almost unbearable.

Anoma co-founder Christopher Goes recently expressed candid views, directly pointing out that the Cosmos ecosystem is currently in an extremely difficult situation. According to industry reports, he described this once hopeful blockchain ecosystem as “almost dead.”

Ecosystem projects continue to decline, and capital flows face major adjustments

In Goes’s analysis, the crisis in the Cosmos ecosystem manifests on multiple levels. First, several key projects have either ceased operations and entered maintenance mode or are gradually leaving the ecosystem. This reflects a lack of confidence among project teams in the ecosystem’s prospects.

Meanwhile, the Cosmos Foundation (ICF) has also begun strategic adjustments in its funding allocation. The focus has shifted more toward capturing the value of the ATOM token itself, which in turn further diminishes the appeal to ecosystem developers. User and market attention to Cosmos has fallen to historic lows, serving as the most direct signal of ecosystem decline.

New projects face triple challenges

For projects like Namada that are still developing within the Cosmos ecosystem, the current environment presents unprecedented challenges. Goes points out that they need to confront three major difficulties: first, the high costs associated with developing their own technical stacks; second, the sustainability issues of maintaining enough validator nodes; third, the market demand for their products is far below expectations.

Technical route of privacy solutions urgently needs adjustment

Finally, Goes raises a critical technical consideration. If privacy protection services are to be provided for assets on mainstream blockchains like Ethereum or Solana, the current technical architecture upheld by Cosmos is no longer the optimal choice. This indicates that the ecosystem needs to conduct a profound reflection and reorientation of its development direction.