{"id":463455,"date":"2023-12-06T02:16:47","date_gmt":"2023-12-06T02:16:47","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=463455"},"modified":"2023-12-06T02:16:47","modified_gmt":"2023-12-06T02:16:47","slug":"strategic-alliance-in-the-cosmos-ecosystem-osmosis-and-ux-chain-discuss-merger","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/strategic-alliance-in-the-cosmos-ecosystem-osmosis-and-ux-chain-discuss-merger","title":{"rendered":"Strategic Alliance in the Cosmos Ecosystem: Osmosis and UX Chain Discuss Merger"},"content":{"rendered":"

In the Cosmos ecosystem<\/a>, a significant consolidation event is on the horizon as Osmosis and UX Chain (formerly known as Umee) have put forward a merger proposal. Osmosis stands as the largest decentralized exchange<\/a> within Cosmos, while UX Chain is a notable lending protocol. The proposed merger, if approved, promises to integrate UX Chain’s lending algorithms and logic seamlessly with the decentralized exchange (DEX) services of Osmosis, paving the way for a robust DeFi hub.<\/p>\n

The merger plans, which represent a concerted effort between the teams of Osmosis and UX Chain, have been meticulously detailed. The strategy involves a phased approach, starting with the integration of UX Chain’s codebase into the Osmosis Chain<\/a>. This initial phase is designed to meld the strengths of both entities and is expected to result in a combined total value locked across the two networks. Despite this integration, both platforms’ native tokens – the Osmosis token and the UX token – will continue to trade independently for the time being.<\/p>\n

What is Cosmos?<\/h2>\n

Cosmos represents a blockchain ecosystem<\/a> that is often described as the “Internet of Blockchains.” Within this ecosystem, there exist numerous distinct blockchains that possess the capability to interconnect and seamlessly exchange tokens with one another.<\/p>\n

All of these blockchains are constructed using the open-source Cosmos technology<\/a>, which is accessible through a software development kit (SDK). This approach simplifies complexity and grants developers the freedom to incorporate desired features. The SDK includes essential functionalities like staking and governance.<\/p>\n

Moreover, many of these blockchains implement the Inter-Blockchain Communication protocol, ensuring secure communication among them. This protocol facilitates the transmission of messages and tokens across different chains.<\/p>\n

The THORChain project<\/a>, which has become very popular recently due to the meteoric rise in its network’s utility token, RUNE<\/a>, is based on Cosmos. It is a resounding success story for the Cosmos ecosystem, one that THORChain’s founder, Chad Barraford<\/a>, would like to see more often acknowledged.<\/p>\n

\n

The cosmos community has always been resistant to $RUNE<\/a>, not seeing it as part of the cosmos ecosystem. And as it performs better, it makes more and more sense that the cosmos community should get behind it.<\/p>\n

Its mcap is not too far from surpassing $ATOM<\/a>, and its now the 3rd…<\/p>\n

— Chad Barraford (@CBarraford) December 2, 2023<\/a><\/p><\/blockquote>\n