Moonbeam network, via the secure cross-chain infrastructure of axelar, has completed its cross-chain integration with Osmosis. This is a huge step for interoperability as it connects the Polkadot ecosystem with Cosmos, enabling one-click swaps between the two chains.
“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.
This integration was only made possible with secure inter-chain communication provided by axelar. Recall that Moonbeam recently integrated cross-chain connected contracts with axelar, allowing developers to build hybrid applications that can harness the resources from various chains. More about that here
The first token to successfully move between ecosystems is $DOT, which is now available on Osmosis. In the future, Moonbeam can also serve as a gateway for Substrate-based tokens from other chains to access the Cosmos ecosystem through Osmosis.
About Osmosis
Osmosis is a Layer-1, Proof-of-Stake (PoS) blockchain built using the Cosmos SDK that has optimized its design to be a sandbox for automated market makers (AMMs). The chain enables developers to design and deploy customized AMMs by using its various modules and leveraging Osmosis’ on-chain governance system.
Osmosis’ native token, OSMO, grants holders the right to vote on proposed network changes and earn rewards for helping secure the network. Its first application, also called Osmosis, is an AMM that features ATOM and OSMO as its initial base trading pairs.
Visist the website here or Read about how Osmosis achieves inter -chain liquidity here
About Moonbeam
Moonbeam is a platform that provides smart contract execution capabilities for cross-chain connected applications. It enables unity of functionality from ETH, Polkadot, and a lot more.
Moonbeam is a Parachain on Polkadot. It was onboarded on the 17th of December 2021 onto the relay chain.
By having the most Ethereum-compatible smart contract Parachain in the Polkadot ecosystem, it permits developers to plug in their projects with little to no changes needed in their smart contract code.
It also enables these projects to tap into the functionality of the Polkadot ecosystem and its shared security.