Wu Shuo learned that Anoma co-founder Christopher Goes (cwgoes) stated that the Cosmos ecosystem has currently "almost died": multiple projects have shut down or entered maintenance mode (such as Penumbra and Osmosis), and some projects are leaving Cosmos (such as Noble); the ICF's funding focus has shifted toward value capture of ATOM itself, with user and market interest declining to historic lows. He noted that this environment puts projects like Namada under greater pressure in areas such as high-cost proprietary technology stacks, validator sustainability, and insufficient user demand. If serving privacy for Ethereum or Solana assets, the existing Cosmos technical roadmap is no longer optimal.