Design a square-format digital painting that portrays a majestic cosmic entity, with galaxies, stars, and nebulae woven into their form. This celestial figure should be depicted in a tranquil meditative pose, symbolizing a profound connection with the cosmos. Surround them with a dreamlike setting of levitating landmasses, gravity-defying water streams, and luminescent flora. Incorporate spiritual motifs such as the Tree of Life and Ouroboros seamlessly into the landscape. Utilize a palette of deep purples, blues, and shimmering golds to evoke a sense of the mystical and otherworldly. Aim to convey the splendor of the cosmic being and the fantastical nature of the environment. Ensure the composition adheres to a 1:1 aspect ratio.