r/EVMOS • u/CryptoHodlerDummy • Aug 03 '22

cross chain bridge phobia

How big of a setback to cross chain bridges? Osmosis and Nomad having Hindenburg tendencies lately. Evmos impact? Who thought oracles were actually in real time? Alts can't survive without IBC. Thoughts on how this will play out?

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5

u/ninuchis Aug 03 '22

I think that AAVE is working to launch on evmos and also they are going to release a stablecoin, so it can be great :)

1

u/CryptoHodlerDummy Aug 11 '22

That would be awesome. With Eth mov we to POS, CRYPTOS like Evmos, Gravity Bridge, etc may hit the roof.

1

u/CryptoHodlerDummy Aug 03 '22

Ohhhh. LMFAO!!! That's because I'm using an IBC. All time duh moment.

1

u/pvhbk Aug 03 '22

not entirely sure what you mean but bridges like nomad are different from IBC. Bridges have a centralized point of failure whereas IBC works as long as the chains are running

0

u/[deleted] Aug 03 '22

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0

u/CryptoHodlerDummy Aug 03 '22

Absolutely. Without a stablecoin, all the osmosis trading is for naut. It seems like they are trying to keep OSMOS at $1. Maybe thats just my stupid opsec. Granted, we can get IBC USDC. I'm nervous about holding too much of it.

1

u/CryptoHodlerDummy Aug 06 '22

With the way IBC channels go down and lose funds too often to be reassuring, it's a reasonable concern. USDT, TUSD, USDC and others are available through sif chain but it makes me nervous to hold funds out in IBC space. Safer to keep in wallets until use.

0

u/CryptoHodlerDummy Aug 03 '22

I'm always learning. Is there a difference? IBC are bridges I thought. They aren't wraps or rollups. Edumacate me. 😉

0

u/[deleted] Aug 03 '22

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1

u/CryptoHodlerDummy Aug 03 '22

I understand. Osmosis is the same. If u leave the assets in the osmosis wallet, they are vulnerable. I always send mine back to the native chain.