User blog:TheGuest7/Gods in Scott Snyder and James Tynion IV cosmology.

The Dreaming #12 reveals the characteristics of the gods :
 * 1) "The lords and ladies of the unreal realms."
 * 2) "They come clothed in skins of faith and fancy."
 * 3) "They are stories".

The fact that the entities in the sphere of the gods are "the lords and ladies of the unreal realms" upholds what James Tynion IV established by introducing realms from the sphere of the gods as "fiction".

"They come clothed in skins of faith and fancy" re-affirms what has long been introduced in DC : the fact that entities take forms according to the beliefs of humanity as explained in The Dreaming #10. In other words, it is the same entity in substance, but different in form according to the belief system.

The last characteristics of the entities of the sphere of the gods is interesting, but let us understand what a story is explained in The Dreaming #12 :
 * 1) "A viewpoint".
 * 2) "A shape".
 * 3) "The illusion of beginning".

In The Dreaming #11, we learned the story of the Ur-gods. Ur-gods are gods "beyond space", "outside time, yet conscious of the beginning." The entities of the sphere of the gods are beyond space", "outside time, yet conscious of the beginning" through story, which gives them "a viewpoint", "a shape", and "the illusion of beginning". As explained in The Dreaming #10, the gods conform to the beliefs of humanity. They are aware that they have many beginnings according to the belief system. In the same comic book, it is explained that the snake that gave Dream the egg was several entities in time:
 * He has blurred across time with a thousand faces and meanings, hostage to the shifting sands of faith, and--

In conclusion, it seems that the gods are atemporals, but bound to time because "they are stories".
 * "Divinties are temporal smears. Merging, dividing. Oozing into new forms, new doctrines, to sup whatever belief they can find."