Osmosis, a leading decentralized finance (DeFi) protocol, announced the release of version 14.0.0, also known as the Neon Upgrade, which brings new improvements in security, efficiency, and more.
Rejoice, cosmonauts! The highly anticipated Osmosis app upgrade begins on January 23, 2023 at 16:00 UTC. The upgrade will be implemented at Block Height 7,937,500.
The Neon upgrade brings several new features to the Osmosis protocol, with a focus on increasing the safety and efficiency of the protocols built on top of it. The upgrade aims to a seamless experience for buildersmaking it easier to create and start new projects on the Osmosis protocol.
What are the new features?
The first major feature of the upgrade is the introduction of a Geometric TWAP (Time Weighted Average Price) mechanism.. This mechanism will allow Osmosis liquidity pools to be more resistant to manipulationn, making it a key feature for protocols like the Mars protocol that rely on osmosis. Geometric TWAP will also increase the efficiency of tick pricing on concentrated liquidity.
Superfluid Pools Source: DeFiyield
Another important feature of the neon upgrade is the Downtime detection module. This module detects if the log is recovering from downtime and provides information to developers. This feature is critical to ensure a seamless experience for builders on Osmosis. With this module, developers can quickly identify and resolve any issues that may arise during downtime and ensure their projects keep running smoothly.
The upgrade also includes a IBC v4.2.0 upgrade and Wasm Hooks. This paves the way for Osmosis Outposts and cross-chain swaps, allowing developers to access Osmosis liquidity without having to transfer funds to the protocol. This upgrade makes cross-chain wasm hooks reusable. This feature allows developers to easily move assets between different chains and access liquidity across multiple platforms, increasing the accessibility and flexibility of the Osmosis protocol.
The Osmosis team has worked tirelessly to improve the protocol and provide the best experience for its users and developers. The team strives to keep improving the protocol and providing a reliable and secure DeFi experience for all users.
Final Thoughts
In summary, the Osmosis protocol continues to deliver on its promise of a safer and more efficient DeFi protocol on web3. This upgrade aims to provide developers with a seamless experience, make it easier to create and launch new projects on top of the Osmosis protocol, increase the security and efficiency of the protocols built on top of it, and increase the accessibility and flexibility of the Osmosis protocol.
Edmond is a passionate writer for video games, GameFi and Web3. He has worked for top GameFi companies and video game/crypto news websites.
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