Osmosis is a DEX AMM developed on Cosmos SDK, to explain it easy it is a decentralized exchange that uses an automated market maker system to determine the price of trades.
*DEX : Decentralized Exchange
AMM: Automated Market Maker
SDK: Software Development Kit, i.e. the set of tools and libraries that allow you to develop applications.
The applications of this environment are equipped with dedicated chains, in doing so numerous advantages are obtained including the maintenance of security guaranteed by the Cosmos blockchain, at the same time the latter is not congested by numerous transactions; the speed of each operation is very high (a few seconds) and a non-closed system (the chains can communicate with each other).
The OSMO token is mainly used to pay fees, which I will talk about later.
Although it is different from many competitors, Osmosis offers a proposal that all in all we find elsewhere: token trade, liquidity pool with very high and easy-to-use farm and APR, a wide staking offer and more, but with the great advantage of be very stable, very fast in transactions, but above all with very low fees.
The protocol came to life in 2021, immediately achieving enormous success and attracting attention for various reasons.
The interface is decidedly colourful, full of careful illustrations, the navigation and functionality are intuitive and always reactive, giving a sign of the team's attention to every little detail.
What is surprising is how the offer is constantly expanded and gives the impression of how the entire Cosmos universe is in decisive expansion and it seems that the best is yet to come.
OSMO TOKEN
In addition to the payment of fees, as mentioned above, the Osmo token is used as a reward for users who deposit liquidity and stakes, for token governance (the more tokens you hold, the higher the voting strength, as always) and as a strategic reserve of funds.
The supply is 1 billion copies, released according to a scheme that reduces emissions every year, of which 25% is intended for the team.
Finally, the protocol offers the possibility of using two types of wallets: Keplr for browsers and WalletConnect through Keplr mobile.
UPDATES AND THE FUTURE
Many updates were made during 2023, including v14 Neon which added support for USDC, v15 Sodium which introduced new tokens, new support site and support for Kado and Autonomy, v16 Sulfur which added new features for validators, security improvements and support for composable tokens.
Other updates are expected in 2024, including one imminent in February, v17 which will introduce support for NFTs, new features for liquidity pools and scalability improvements.
v18 will follow and add support for smart contracts, new governance features and security improvements.
In conclusion, Osmosis is a truly promising project, with significant potential. The network has achieved considerable growth and popularity, and future updates will make it even more powerful, faster and more secure.
Worth keeping an eye on!
**Important information has certainly been omitted, I have tried to reduce it as much as possible so I apologize in advance if you don't find every single piece of information
If you liked the article, subscribe and leave a like to not miss the next updates
Here below some links if you'd like to support me:
Nexo and Nexo Card (Join Nexo, Deposit 500$ and get up to $35 in Bitcoin. Earn up to 16% on your deposit and 2% cashback with Nexo Card)
https://nexo.com/ref/j6atsfddtw?src=android-link
Freecash (earn 20/100$ each month without cash investment)
https://freecash.com/r/Hello8
Cointiply (earn 20/100$ each month without cash investment)
https://cointiply.mobi/d7u2
