Coinbase Unveils Trading For Cosmos-Based DeFi Altcoin ByAli RazaPRO INVESTOR Updated: 27 May 2023 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Coinbase will allow its users to trade the Osmosis (OSMO) decentralized finance (DeFi) altcoin. OSMO is a DeFi altcoin running on the Cosmos blockchain. Coinbase, which is the largest cryptocurrency exchange in the US by trading volumes, will support the OSMO altcoin under an “experimental label” designation. Coinbase to support OSMO DeFi altcoin Coinbase will be listing this token under the Experimental Label designation. This designation has been set aside for risky and low-liquidity tokens. The listing has attracted interest in the DeFi altcoin that runs on the Cosmos blockchain. Osmosis is an automated market maker protocol that has been created on the Cosmos software development kit (SDK). The AMM protocol supports cross-chain transactions when it utilizes inter-blockchain communication (IBC). The native governance token for the Osmosis ecosystem is known as OSMO. At the time of writing, OSMO was trading at $0.5681, according to data from CoinGecko. OSMO has dropped by 2.2% in the last 24 hours and 4.9% over the past week. The token has a market capitalization of over $341 million and ranks as the 114th largest cryptocurrency by this metric. The Osmosis decentralized exchange ranks as the 12th largest protocol among all the DEXs in the market, according to data from DeFiLlama. The DEX has a total value locked (TVL) of $144.1 million. The TVL is one of the most crucial metrics that determine the rate at which a protocol is being used. The metric shows the total capital that is held within a blockchain’s smart contract, and it is calculated by multiplying the total value of the collateral locked within the network by the current value of the assets. The Coinbase exchange first integrated OSMO into the listing roadmap last month. However, Coinbase is not the first leading exchange that has supported the token. In October last year, the exchange giant listed the OSMO altcoin on its “Innovation Zone.” The latter is a dedicated trading platform targeting crypto assets that are prone to price volatility. Osmosis DEX on Cosmos Earlier this year, the Cosmos DEX announced a plan to conduct a v14.0.0 upgrade known as Neon. The upgrade came alongside a broader plan by the platform to grow the product integrations and support cross-chain trading by making it more appealing to traders and developers. The Neon upgrade is scheduled to happen at block height 7937500 on January 23 at 16:00 UTC. The upgrade will come with several crucial enabling upgrades that will support the Osmosis DEX. One of the main features of the upgrade is that it will support the implementation of geometric Time Weighted Average Pricing (TAWP) within the Osmosis liquidity pools. In the finance industry, a TWAP is the average price of a financial asset over a given time. The TWAP strategy is usually used to lower the impact of a large order in the market by splitting the large order into smaller quantities. These orders can then be executed at regular intervals. The strategy was aimed at helping Osmosis achieve efficiency. Related Coinbase Alternatives: 9 Platforms with Lower Fees and More Security Coinbase Launches A TV Campaign To Promote Crypto 10 New Upcoming Coinbase Listings in 2023 Wall Street Memes - Next Big Crypto Rating Early Access Presale Live Now Established Community of Stocks & Crypto Traders Featured on BeInCrypto, Bitcoinist, Yahoo Finance Rated Best Crypto to Buy Now In Meme Coin Sector Team Behind OpenSea NFT Collection - Wall St Bulls Tweets Replied to by Elon Musk Learn More Join Our Telegram channel to stay up to date on breaking news coverage