Bridging Ethereum To Cosmos: Or, In Other Words, Reaching Osmosis

For those not so familiar with the Cosmos ecosystem, Osmosis is the leading AMM of it. Launched around 6 months ago, it reached to the top almost instantly, based on a combination of high incentives, ultra-clean UI and very high availability (an euphemism for "that thing was well coded").

Yesterday, Osmosis announced they will soon integrate the Gravity Bridge into their product. Gravity Bridge is an Ethereum to Cosmos solution, which was launched a couple of months ago. It's not the only one, and it does share parts of the initial codebase with other, less spectacular, but reliable solutions, like Peggy, which powers another Cosmos AMM, Sifchain.

What this means is that you will soon be able to add liquidity to ETH-based pools on Osmosis, which is kinda cool. The integration goes a bit further, as they also want to integrate MetaMask signatures, and possibly other features that will make onboarding easier.

Cosmosis, a PoS chain that I follow for more than 5 years, has very low fees, and it also features IBC, a protocol for sending back and forth tokens to one Cosmos-based blockchain to another, in a matter of seconds. IBC alone was probably the catalyst for a couple of very successful projects, via LBPs (Liquidity Bootstrapping Pools) we've seen recently, like Comdex, or Stargaze. It would have been very difficult for projects in this early stage to onboard users so fast, and reach price stability so soon, without IBC.

Now imagine you could just send some Eth to Osmosis, and add it to a liquidity pool in seconds.

I'm personally very curious about what this move will generate in terms of TVL, because now already Osmosis sits at a whooping $582 million, with a daily average of $50 million in transactions.

Posted Using LeoFinance ^Beta