Osmosis expands cross-chain footprint on Polkadot through integration with Axelar and Moonbeam

Osmosis now supports seamless cross-chain swaps between the cosmosPolkadot and Ethereum ecosystems

COSMOS, Minn., July 19, 2022 /PRNewswire/ — Osmosis, the cosmos-based Interchain Automatic Market Maker (AMM) today announces its integration with Axelar and Moonbeam to enable one-click swaps between them cosmos, Polkadot and Ethereum-based tokens. Axelar’s cross-chain infrastructure provides the secure transport layer to make liquidity from the Polkadot ecosystem available on Osmosis, and since Axelar offers any-to-any connectivity, cosmos-based tokens can also flow to Moonbeam. The first token moving between ecosystems is DOT, which is now available on Osmosis.

osmosis

“Bridging the Cosmos Interchain and Polkadot Parachain ecosystems is a critical integration as we move toward a maximally interoperable blockchain space,” he said Sunny aggar whale, co-founder of Osmosis Labs. “DOT on Osmosis is just the first step in enabling DeFi to thrive as it was intended – without fragmented liquidity and user base.”

DeFi dApp developers are struggling to expand their reach across multiple blockchain ecosystems. Some have tried it by launching multiple versions of their dApps on different L1s or rollups. While this approach is reaching more communities, it has proven difficult for development teams who need to thinly spread their attention and liquidity across all those L1s and L2s. Furthermore, these additional resources have not resulted in economies of scale since each dApp is separate from the others.

Interoperability mechanisms like the connection between Osmosis and Moonbeam enabled by Axelar are the infrastructure that allows developers to finally access the liquidity of multiple ecosystems while merging these isolated communities into a cohesive network of networks. The cross-chain composability between the cosmos and Polkadot ecosystems means liquidity can flow more freely between these two ecosystems without the need for centralized exchange integration.

“The biggest challenge for broader end-user adoption of web3 apps is the end-user experience,” he said Derek Yo, founder of Moonbeam. “This one-click swap integration from Osmosis perfectly illustrates the benefits of what is possible with cross-chain messaging. What would normally be a complex, multi-step bridging process is reduced to a one-click in-app experience. UX improvements like these hide infrastructure complexity away from the end user will be key to growing larger Web3 user bases.”

“What Osmosis and Moonbeam are doing is a powerful example of what’s possible in a new cross-chain paradigm: piecing together liquidity for users who can now access assets and functionality on each chain through one-click experiences,” said Axelar co-founder Sergey Gorbunov. “The Axelar infrastructure and developer tools make it possible to do this securely and permission-free across all connected chains.”

While Polkadot and cosmos Often played off as competitors, this collaboration between Osmosis, Moonbeam and Axelar demonstrates a shared commitment to interoperability and is a fundamental step towards deeper integration between ecosystems. Users can now visit osmosis.zone to trade DOT or LP, and Axelar’s bi-directional bridge will allow more assets to flow between Osmosis and Moonbeam in the near future.

About osmosis

Osmosis is an advanced Automated Market-Making (AMM) protocol focused on privacy, AMM design, and the rapidly growing interchain. Privacy is a fundamental right, and to protect users from MEV (“Miner” Extractable Value), Osmosis develops state-of-the-art techniques to encrypt transactions in the mempool and ensure fair execution without frontrunning. In the AMM design space, Osmosis delivers optimal trades through innovative new models of market making curves, batch execution and high liquidity promoted by a novel LP bonding system. The assets underlying these tied LP shares will soon be able to secure their respective blockchains in a process called Superfluid Staking, earning additional rewards and further fueling the explosive growth of the internet of blockchains. As the interchain grows, Osmosis will continue to provide it with a cross-chain UX that is fast, intuitive, and fun. Above a billion dollars has been deposited into osmosis liquidity pools, and over twenty chains have connected to the chain. With the forthcoming addition of approved smart contracts to the platform, the Osmosis chain will be able to aggregate yields, borrow and lend credit, and compose with contracts on other chains. Interchain DeFi has arrived. First, visit https://osmosis.zone

About Moonbeam

Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets and services on any chain. By unifying the functionality of Ethereum, cosmos, Polkadot, and more in a single platform, Moonbeam solves today’s fragmented user experience – unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses built-in cross-chain messaging to enable developers to create smart contracts that access services across many remote blockchains. This approach, together with Moonbeam’s developer-friendly EVM platform, comprehensive tool support and modern substrate architecture, creates the ideal development environment for building connected applications.

About Axelar

Axelar offers secure cross-chain communication. At its core, it is a permissionless overlay network that supports Turing-complete messaging and program composability. A simple API allows developers to build cross-chain dApps that connect users to any app, asset, or chain via 1-click experiences. Axelar is to Web3 what Stripe is to mobile and web applications. Axelar has raised capital from top-tier investors including Dragonfly Capital, Polychain Capital, Coinbase and Binance. Partners include major proof-of-stake blockchains like Avalanche, cosmos, Ethereum, Polkadot and others. Axelar’s team includes experts in distributed systems, cryptography, WITH/Google/Consensys Graduates; the co-founders, Sergei Gorbunov and Georgios Vlachoswere founding members of Algorand.

press contact
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SOURCE osmosis

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