The First 10 Things To Do When You Arrive in the Cosmos
Did you hear about all the great apps coming to the Cosmos ecosystem? Did you just warp into the Cosmos to check it out?
Welcome!
Are you wondering where to go and what to do?
Here are the first 10 things any new Cosmonaut can do to get a head start.
One
Set-up a Keplr Wallet.
Start with setting up a Chrome extension Keplr wallet, because you will receive the full-featured version. However, a mobile version is available as well, but it does not have all the features.
Where to download - https://www.keplr.app/
Two
Buy ATOM at your favorite central exchange and withdraw it to your Keplr Cosmos wallet address.
Fortunately, ATOM is available on many central exchanges worldwide and these are still the most common places where fiat on-ramps exist.
*Where to buy ATOM - https://messari.io/asset/cosmos/markets
If you are coming from Ethereum or another EVM chain, swapping ETH for ATOM is another great option. One way to do this is to use the Sifchain DEX, where you can connect both your MetaMask wallet and your new Keplr wallet.
*Sifchain DEX - https://sifchain-dex.redstarling.com/#/swap?from=ceth&to=uatom&slippage=1.0
Three
Deposit some ATOM onto the Osmosis DEX.
Make sure to leave behind a couple of ATOM for gas payments (now and in the future) and for staking (see below).
*Osmosis DEX - https://app.osmosis.zone/assets
Four
Swap some of your ATOM to OSMO in Osmosis. While trades (swaps) are free on Osmosis, you will want to have OSMO in your Keplr Osmosis wallet to pay for gas fees for withdrawing any tokens you swapped into, staking OSMO tokens, or transactions for the liquidity pools.
*Osmosis DEX - https://app.osmosis.zone/
Five
Stake some of your new tokens! Go to the Keplr Dashboard, click on Cosmos Hub, and then Stake your ATOM.
Depending on your budget, stake at least 10 ATOM. Airdrops are regularly given to ATOM stakers. These are a wonderful opportunity to interact with and learn about new dApps, without having to first invest your own funds.
*Keplr Dashboard - https://wallet.keplr.app/#/dashboard
Six
Choose a Validator and do so wisely. Unfortunately, Keplr’s Dashboard only shows Voting Power; however, try to choose your validator based on excellent Uptime (99%-100%), Participation (governance proposals voted on), and Commission, in that order. I believe that a commission of 5%, with a maximum of 10% is reasonable.
*Mintscan has many statistics for all the blockchains in the Cosmos: https://www.mintscan.io/cosmos/validators
But, my favorite place for analytics (and one of my favorite validators) is **Smart Stake*: https://cosmos.smartstake.io/
Personally, I prefer to delegate to validators that are active in the communities and contribute; however, this is not a requirement. Once you get acquainted with those, you can always redelegate your staked tokens. You do not have to unstake.
Seven
Also, stake tokens at other blockchains and help secure the networks. I have many favorites; however, at a minimum include OSMO, JUNO, and SCRT tokens. If your budget allows for it, start with $100 worth of tokens for each. This will get you on your way to earning staking rewards, participate in governance votes, and qualify for airdrops.
These can all be swapped into from ATOM on the Osmosis DEX and withdrawn to their respective Keplr wallet addresses. Again, make sure you leave a few tokens behind for gas fees at each wallet address.
Eight
Explore the Cosmos ecosystem by visiting different blockchains. At the time of this writing, there are 49 sovereign blockchains.
*Mintscan - https://hub.mintscan.io/overview Map of Zones - https://mapofzones.com/
Nine
Learn about airdrops and track your future eligibility.
*Airdrops.one - https://airdrops.one/ CosmosPug - https://cosmospug.com/airdrops/ Cosmos Airdrops - https://www.cosmosairdrops.io/
Ten
Visit the burgeoning NFT marketplaces and from there link to the communities being created around the art and the creators. While relatively new for the Cosmos ecosystem, NFT’s are gaining momentum and the associated communities are growing fast.
*Stargaze - https://app.stargaze.zone/marketplace Passage3D - https://market.passage3d.com/ Omniflix - https://omniflix.market/home Stashh - https://stashh.io/collections Knowhere - https://knowhere.art/ Talis - https://talis.art/ MantlePlace - https://marketplace.assetmantle.one/ Loop - https://nft.loop.markets/
With these ten steps, you are off and running in the Cosmos. The ecosystem is vibrant, growing, and has many great communities and people eagerly sharing and willing to help.
**I can also be reached here*:
Twitter - @KaasKop_Opa Medium - https://medium.com/@KaasKop_Opa Loop - https://www.loop.markets/user/52879
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