Range is building a runtime monitoring toolkit for the Osmosis chain to service a major security gap in the Cosmos ecosystem. The tools will enable teams building on Cosmos to run real-time security and detect bugs after deployment.
Most DeFi and blockchain protocols don’t have good security monitoring and alerting systems, which keep an eye on ongoing chain activity and sound the alarm when something has gone awry. This problem became evident in one of the biggest attacks in 2022. It took the Ronin Bridge team one week to realize that $600 million had been lost to a hack.
The lack of monitoring and alerting systems is particularly stark in the Cosmos ecosystem, where security infrastructure generally lags behind peers. Cosmos is a modular ecosystem where purpose-built chains communicate with each other. While this is beneficial to dapp developers and engineers, it presents some challenges in securing those applications.
Range’s Osmosis toolkit will monitor a stream of security-focused events on the Osmosis chain in real-time and allow users to set custom smart contract alerts that are triggered when specific conditions are met. The toolkit offers support for smart contracts built on the CosmWasm platform.
Range is also building a community version of its dashboard, so any Osmosis users will have access to real-time monitoring capabilities and create customized alerts to track their positions.
Range is the security platform for app-specific blockchains and rollups, with a focus on the Cosmos ecosystem and bridges such as the Inter-Blockchain Communication Protocol (IBC). Range's product suite encompasses tools for monitoring, threat detection and prevention, analytics and forensics, in order to strengthen the security of the interchain and modular ecosystems.