What is Osmosis?
Osmosis is a cutting-edge, permissionless, and customisable Automated Market Maker (AMM) protocol built on the Cosmos SDK, designed to facilitate seamless asset exchange between various blockchains. Osmosis enables the creation of liquidity pools, yield farming opportunities, and staking rewards for users. As a decentralised exchange (DEX), Osmosis allows users to swap assets, provide liquidity, and earn rewards in a decentralised manner without relying on intermediaries.
Why Osmosis Integration Matters
The integration of Osmosis into the XDEFI Wallet offers users several advantages, including:
- Enhanced Asset Management: Users can now manage their Osmosis-based assets (ATOM, OSMO, JUNO, etc.) alongside their existing assets on other supported blockchains.
- Seamless Cross-Chain Swaps: Osmosis’s unique interoperability enables users to perform cross-chain swaps between ecosystems with minimal friction and maximum convenience.
- Improved Yield Farming Opportunities: With access to Osmosis’s liquidity pools and yield farming opportunities, users can optimise their strategies and maximise their returns.
- Easy Staking and Governance: XDEFI Wallet users can now easily stake their OSMO tokens and participate in the Osmosis governance process, contributing to the future development of the platform.
How to Get Started with Osmosis on XDEFI Wallet
To start using Osmosis on XDEFI Wallet, follow these simple steps:
- Update to the latest version of XDEFI Wallet, which includes Osmosis support.
- Add the Osmosis network to your wallet by selecting “Osmosis” from the list of supported networks.
- Transfer your Osmosis-based assets to your XDEFI Wallet or purchase them directly within the wallet.
- Begin exploring the Osmosis ecosystem: Swap assets, provide liquidity, stake your OSMO tokens, and participate in governance proposals.
What is the native token of Osmosis?
The native token of the Osmosis blockchain is OSMO. It serves as the platform’s governance token, allowing users to participate in the decision-making process and earn staking rewards. Additionally, it is paired with every other token on the DEX acting as a central asset for trading. You swap OSMO directly within XDEFI Wallet.