I was just thinking about this today. All of the "great" RWA projects I'm aware of (either existing or coming soon) are building using Cosmos SDK and not on an L2 on Ethereum. This post isn't meant to shill any token. It's only to highlight that the Cosmos thesis and Cosmos SDK seem to be what institutional players are seeking for their products.
Ondo currently exists on Ethereum and a bunch of other chains, but they have confirmed that they are going to Cosmos using their very own appchain. It's rumored they are working with Cosmos Labs themselves for this, but I'm not sure.
Figure is 100% launching on Provenance (Cosmos SDK chain) for their RWA project.
Sphinx Protocol is building its own L1/appchain on Cosmos for commodities trading and futures. Based on the docs, it will use both CosmWasm and EVM—not sure if L2s on Ethereum support having dual virtual machines, but this is dope.
Mantra feels like a joke to mention anymore, but they're still alive and working on some stuff. Yet it's another RWA project on Cosmos that actually moved from Ethereum, just like Ondo plans to do.
ZIGChain is also an RWA project mainly focused on RWA yields. They were even at WEF this year and have some interesting partnerships, so I wouldn't ignore them.
What do you think? Do all these make a terrible mistake, or is Cosmos SDK ahead of the competition for L1 building?
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