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Cosmos-Based DeFi Project Trends Upwards Amid News of Possible Coinbase Listing

Cryptocurrency market leader in the United States A Cosmos (ATOM)-based decentralized finance (DeFi) project has been added to Coinbase’s listing roadmap, which has resulted in a price increase for the alternative cryptocurrency despite the ongoing bear market.

Osmosis (OSMO), an automated market maker (AMM) protocol built on the Cosmos software development kit (SDK) that aims to enable cross-chain transactions by utilizing inter-blockchain communication (IBC), will soon be available for trading to Coinbase customers. Coinbase customers will be able to trade Osmosis (OSMO) in the near future.

Describes the website that the project uses,

Osmosis enables users to launch liquidity pools with unique parameters, such as bonding curves and multi-weighted asset pools, which can then be traded. Additionally malleable is the Osmosis system’s incentive framework. The implementation of liquidity reward (LP) rewards for particular pools by governance makes it possible to strategically target incentives.

Osmosis is a fair-launched, customizable, and automated market maker for interchain assets. It enables the creation and management of a non-custodial, self-balancing, interchain token index in a manner that is comparable to that of Balancer.

Before Coinbase’s announcement on Wednesday, the native governance token of Osmosis, OSMO, was trading in the vicinity of $0.7325. Since then, it has skyrocketed to $0.8106 (the price at which this article is being written), representing an increase of more than 10%.

Despite the recent price increases, the crypto asset with the 101st-ranked market cap is still down nearly 93% from its all-time high of $11.25, which it reached in March 2022. This high was reached in March 2022.

Coinbase devised the listing roadmap the year before, with the goals of increasing transparency and decreasing the likelihood of competitors getting a head start on their listing announcements.

It’s not the only major exchange that’s implementing support for OSMO, though it is one of them. In October of 2018, Binance included the alternative cryptocurrency in its “Innovation Zone,” which is a specialized trading area for crypto assets that may be more susceptible to rapid price swings.

 

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