Cosmos Hub Grant deployed by Atom Accelerator DAO (AADAO) to Mystic Labs for MetaMask Snaps Infrastructure for Cosmos
Amount Approved: $218,380
Status: Discontinued

MetaMask Snaps Infrastructure for Cosmos

Integrating MetaMask into the Cosmos ecosystem is crucial for expanding user adoption and establishing ATOM as the primary token across the interchain. To achieve this, AADAO has granted $218,380 to Mystic Labs for a two-part project: onboarding MetaMask users into Cosmos via MetaMask Snaps and building a gas flexibility fee module that would make ATOM the gas token for all Cosmos transactions.

The integration will focus on the ATOM Global Fee’s function within the MetaMask platform, leveraging the “snap” architecture to add new chains seamlessly and manage multiple chains from a single snap. Initial gas tokens supported should include ATOM, OSMO, and USDC (from Noble).

The initial scope of work includes backend swap logic, UI/UX design updates, fallback logic implementation, and comprehensive QA testing. These developments will allow users to pay IBC swap fees with their preferred token, reduce costs, enhance convenience, and provide greater flexibility in managing gas fees.

 

Update: This grant was discontinued due to the lack of a go-to-market strategy, resulting in very little adoption. Additionally, technical challenges with token balances and protocol integrations, such as with Osmosis, hampered progress. The complexity of Cosmos’ multichain environment and the high costs of maintaining RPC for premium chains like TIA and SEI made it clear that starting with a small pilot program to gauge demand and success before expanding is essential.

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Mystic Labs is a leading force in the decentralized finance (DeFi) landscape, committed to progressing DeFi adoption within enterprise frameworks.

Team: Mystic Labs
Current Status: Discontinued
Funding Program: Regular Grants
Funding Category: Cross-Ecosystem Collaboration

Amount Requested: Amount in their initial application, or for RFPs, their first quote or that of the nearest competitor $300,000
Amount Approved: $218,380 (73%)
Amount Paid: $116,750 (53%)

Date Applied: Aug 12, 2023
Date Approved: Generally includes time spent doing interviews, rescoping or amending the application, and due diligence Aug 24, 2023 (12 days)

Payments Made: View the DAO DAO prop on our Grants Wallet or Mintscan of the transaction $49,000 (Sep'23) $34,000 (Nov'23) $7,000 (Jan'24) $14,000 (Feb'24) $12,750 (Mar'24)

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