Interchain Foundation Acquires Skip to Accelerate Growth of Cosmos Ecosystem

Zug, Switzerland – December 10, 2024 – The Interchain Foundation (ICF), a Swiss non-profit dedicated to advancing the development of decentralized, interoperable, and community-driven blockchain solutions within the Cosmos ecosystem, has announced the acquisition of Skip, a renowned blockchain solutions provider. This strategic acquisition is aimed at propelling the growth and accessibility of the Cosmos ecosystem, with Skip’s product expertise and alignment with community values now integrated into the ICF’s mission.

A Major Step in Cosmos’ Evolution

The Interchain Foundation plays a pivotal role in the development and adoption of the Interchain Stack, a suite of software tools that powers hundreds of blockchains across the Cosmos network. These blockchains collectively secure over $50 billion in value, interconnected via the Inter-Blockchain Communication (IBC) protocol. The integration of Skip’s capabilities will enable the ICF to further accelerate its efforts to enhance the developer experience, speed up user onboarding, and build groundbreaking features that will make the Cosmos ecosystem even more accessible.

Following the acquisition, Skip will be rebranded as Interchain Inc. and will operate as a subsidiary of the ICF. Under the leadership of Skip’s co-founders, Barry Plunkett and Maghnus Mareneck, Interchain Inc. will take charge of all product, protocol, and strategic development for the foundation. The newly-formed subsidiary’s primary focus will be expanding the ecosystem of interchain-native companies and developers, driving user and capital liquidity, and pushing forward technical advancements that enhance the competitiveness of the Cosmos ecosystem.

Strengthening Cosmos Hub and ATOM

The leadership team at Interchain Inc. is committed to fostering a thriving ecosystem that includes robust support for the Cosmos Hub and its native cryptocurrency, ATOM. They intend to strengthen the Hub’s role in the broader Cosmos ecosystem, developing impactful new features and cutting-edge products that align with the values and needs of the community.

The ICF and Interchain Inc. plan to internalize the development of the Interchain Stack, focusing on creating a full-service suite for developers. This includes improvements to the developer experience, faster consensus block times, enhanced interoperability beyond Cosmos, and the addition of native virtual machines (VMs) such as Ethereum’s EVM and Rust-based tooling options.

A New Chapter in Ecosystem Growth

This acquisition marks the beginning of an exciting new chapter for the Cosmos ecosystem. The ICF and Interchain Inc. are set to lead efforts to revamp the interchain stack, relaunch the Cosmos Hub, and revitalize the ecosystem’s go-to-market strategies. The leadership at Interchain Inc. has stressed the importance of community collaboration, with Barry Plunkett and Maghnus Mareneck calling on developers and ecosystem participants to help drive Cosmos into its next stage of growth.

“We are grateful and honored to be leading the next chapter of the Cosmos and interchain movement,” said Plunkett. “There is substantial work to be done: building a revamped interchain stack, relaunching the Cosmos Hub, and redefining how we go to market. We need your help, and we’re excited to work alongside the community to lift Cosmos into its next stage.”

Maghnus Mareneck echoed this sentiment, emphasizing the critical role that Cosmos plays in preserving the values of decentralized finance and cryptosovereignty. "We decided to spearhead the Cosmos movement – the last true cryptosovereignty movement – to accelerate the original vision of crypto,” said Mareneck. "Together, we’ll redesign the stack and rebuild the Cosmos Hub to unlock all that is possible in the Internet of Blockchains."

Skip’s Legacy and Contributions

Before the acquisition, Skip made significant contributions to the Cosmos ecosystem, notably through products like The Block SDK, Skip:Connect (formerly Slinky), and mev-tendermint, all of which enhanced the functionality of the Cosmos SDK and CometBFT. Skip’s product, Skip:Go, currently facilitates between 25% and 50% of IBC’s monthly transactions, further cementing Skip’s role as a key player in the interchain’s growth.

Under the leadership of Plunkett and Mareneck, Interchain Inc. will continue to build on this legacy, bringing innovative engineering, strategic expertise, and an unwavering commitment to the growth of the Cosmos ecosystem. The integration of Skip’s solutions and expertise into the ICF will strengthen the foundation’s capacity to foster a thriving, interconnected blockchain ecosystem that is more scalable, efficient, and user-friendly than ever before.

Changes in Leadership and Future Plans

As part of the acquisition, long-time ICF Foundation Council member and Cosmos co-founder Ethan Buchman is stepping down from the council. Buchman, who helped facilitate the transition during this acquisition, remains committed to the Cosmos ecosystem and looks forward to focusing on his ongoing work as a builder within the space.

The ICF will continue to operate as a Swiss Foundation, with plans to introduce new council members in the coming months. As Buchman passes the torch, he expresses confidence in the leadership of Josh Cincinnati (President of the ICF’s Foundation Council) and Maxime Gohin, alongside Plunkett and Mareneck, in driving the foundation’s mission forward.

Conclusion

The acquisition of Skip marks a transformative milestone for the Interchain Foundation and the entire Cosmos ecosystem. With a renewed focus on ecosystem growth, developer engagement, and technical innovation, Interchain Inc. is poised to play a crucial role in the next phase of Cosmos' evolution. The combined expertise of the ICF and Skip’s leadership will accelerate the development of interoperable blockchain solutions, making the Cosmos ecosystem more accessible, scalable, and community-driven than ever before.