Last updated 15/12/2022
Official Website: https://osmosis.zone/
Osmosis (OSMO) is a decentralized exchange that operates on Cosmos (ATOM), a network of independent, interoperable blockchains connected through the Inter-Blockchain Communication Protocol. In addition to assets within the Cosmos ecosystem, Osmosis also supports assets from Ethereum (ETH) and Polkadot (DOT) through bridge mechanisms. The platform is transitioning from a Balancer-style pool model to a more efficient concentrated liquidity model to improve trading and liquidity provision.
Being an appchain DEX, Osmosis has more flexibility and control over the underlying blockchain technology than other DEXs that operate on a parent chain. This has led to the development of unique features such as Superfluid Staking. This feature allows users to earn staking rewards while providing liquidity to the exchange, and also contributes to the security of the network.
Additionally, the flexibility of appchains allows for the creation of a transaction memory pool protected by threshold encryption, which will significantly reduce negative effects of front-running on Osmosis.
Osmosis aims to create a decentralized exchange that connects all blockchain networks through IBC, including Ethereum and Bitcoin. To achieve this vision, Osmosis is inviting developers to create a custom DEX ecosystem that includes a wide range of functionalities such as lending, credit, margin trading, fiat gateways, Defi strategy vaults, NFTs, stablecoins and more. This ecosystem will provide all the features of a centralized exchange, but with the added trust and security of decentralized finance.
The goal is to create a comprehensive cross-chain native DEX and trading suite that offers the best of both worlds - the convenience and functionalities of a centralized exchange and the security and trust-minimization of decentralized finance.
Osmosis was created by a team of experienced blockchain developers from two prominent Cosmos teams - Sikka validator and Tendermint, and Keplr, the Interchain Wallet. The team includes Sunny Aggarwal, Dev Ojha, Josh Lee, and Tony Yun.
One of the key investors in Osmosis is Paradigm, a digital asset investment firm with a diverse portfolio of investments in various blockchains and protocols such as Uniswap, Maker, Coinbase among others. This strategic investment helps Osmosis to benefit from Paradigm's vast network and experience in the blockchain space.
Osmosis (OSMO) can be stored in a variety of wallets that support Cosmos-based tokens. Some of the popular options include Keplr, Leap Wallet, Cosmostation Wallet, Trust Wallet, and Citadel One.
Keplr is a browser extension and mobile wallet for Cosmos-based tokens, it has been developed by the same team that created Osmosis. It provides a simple and user-friendly interface, and also allows users to interact with various Cosmos-based applications such as Osmosis.
Leap Wallet is considered a secure option for storing and managing Cosmos-based tokens, and it supports features such as two-factor authentication for added security.
Cosmostation is a top-rated, non-custodial mobile wallet for PoS blockchains that can also be accessed through web or browser extension.
Citadel One is a secure PoS platform that utilizes a non-custodial approach for the management and storage of crypto assets.
Block Explorer: https://www.mintscan.io/osmosis
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.