Osmosis Co-founder Doesn’t See Cosmos and Polkadot as Competitors

Osmosis’ latest integration will enable swaps between Cosmos, Polkadot and Ethereum

article-image

Sunny Aggarwal, co-founder of Osmosis Labs | Source: Osmosis

share

key takeaways

  • Polkadot’s native token will be the first to move between the ecosystems
  • “Our goal is to provide the best DEX possible for the entire crypto ecosystem and the interchain world that is coming into reality,” Sunny Aggarwal said

Osmosis, a cross-chain automated market maker on Cosmos, has expanded its services to Polkadot and Ethereum-based tokens through integration with Axelar and Moonbeam. 

Cross-chain swaps allow decentralized finance (DeFi) dApp developers to expand their reach between different blockchain ecosystems. 

Osmosis’ latest integration, which enables transactions via Inter-Blockchain Communication, will support one-click swaps between the different blockchains, starting with Polkadot’s native token DOT.

“Our goal for Osmosis is not just to be a Cosmos DEX, our goal is to provide the best DEX possible for the entire crypto ecosystem and the interchain world that is coming into reality,” Sunny Aggarwal, co-founder of Osmosis Labs, told Blockworks.

Aggarwal wanted to make sure that Osmosis had a single canonical bridge to connect different networks. This would give the team capability to execute more functionality in a timely manner. 

A governance voting process that involved four other bridge providers was motioned. Blockchain interoperability startup Axelar was chosen as the primary cross-chain infrastructure.

“Axelar’s UX was very similar to what we were looking for and much more seamless than a lot of the others,” Aggarwal said, adding that Axelar had faster connectivity and a better security model. 

Polkadot and Cosmos are often considered competitors, but Aggarwal hasn’t thought of the two projects in that way. Rather, they’re simply different frameworks for building dApp chains, he said. 

Indeed, this latest collaboration between the two blockchains demonstrates a commitment to deeper integration. 

“The point of building these interoperability protocols is not just to interoperate within tiny ecosystems,” Aggarwal said. “Polkadot is a big ecosystem that has a lot of interesting assets. Our plan is to be able to continue to connect every ecosystem possible.”


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Templates.png

Research

ZKPs enable efficient offchain transaction processing and validation, resulting in increased throughput and reduced fees. Solana's ZK Compression leverages ZKPs to minimize onchain storage costs, while Sui's zkLogin streamlines user onboarding by replacing complex key management with familiar OAuth credentials.

article-image

Plus, is Polymarket this cycle’s breakthrough mainstream app?

article-image

The crypto asset manager lowered its planned fee from 0.25% to 0.15%, undercutting its competitors

article-image

Plus, a look at planned ETH ETF fees and how they differ from their BTC counterparts

article-image

North Korea suspected in breach of Indian exchange’s multisig wallet

article-image

Plus, Sanctum’s CLOUD token has officially launched — but not without problems

article-image

It’s not yet clear whether Donald Trump is pumping bitcoin. But an unofficial memecoin is still seeing benefit.