California City, CA, Dec. 05, 2023 (GLOBE NEWSWIRE) — The Umee UX Chain, the largest lending protocol in Cosmos, just announced a merger with the Osmosis chain, the largest Decentralised Exchange in Cosmos, toward building the most powerful DeFi super-app chain.
This merger between Osmosis and the UX chain would showcase a world where the superior features of an app-chain can include the most successful Decentralised Exchange in Cosmos along with the most successful lending protocol in Cosmos all on one unified consensus layer.
This merger between the UX chain and Osmosis chain would involve a code transition where the UX chain will reimplement its code base on top of the Osmosis chain in order to achieve mutually beneficial functionalities. This merging of the product features onto the Osmosis chain signifies a dedication to the products that can be achieved on a unified DeFi Hub. Through this merging of code bases, advanced features such as Spot Margin trading, Shorting, Liquidations, Stable-coin pools, Interchain Flash Loans, and MEV Markets would all be implementable on one shared network.
Superior consensus level security will also be achieved through this merger. Osmosis is the lead developer around Mesh Security. Through securing the network of chains through this shared security mechanism, the overall platform will benefit from a more resilient network, better safety, and unmatched security for any value locked on the chain.
“2023 has been a massive year for Osmosis and the Cosmos ecosystem, and we’re not slowing down anytime soon. This proposal to merge the Umee UX chain with the Osmosis chain would enable some really useful new features and functionalities for our users — and we’re excited to continue our collaboration with UX however the community decides is best.” via Sunny Agarwal, Co-founder of Osmosis.
“Imagine a world where Uniswap and Aave merged their codebases and functionalities all in one. The combined architecture of both chain’s functionalities will open up the door for flash loans and new forms of MEV on the same DeFi Hub.” Says Brent Xu, Co-founder of Umee. “By building on one shared infrastructure, we’re paving the way for better security and more assets onboarded into the ecosystem.”
Experts have expressed that more consolidation is expected as the crypto industry is transitioning from the momentum of the last bull cycle to a new market macrostructure. Be on the lookout for more updates as we learn about the results of this merger between the two largest most effective platforms in Cosmos.
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Disclaimer: The information provided in this press release is not a solicitation for investment, or intended as investment advice, financial advice, or trading advice. It is strongly recommended that you practice due diligence (including consultation with a professional financial advisor) before investing in or trading securities and cryptocurrency.
CONTACT: Daniel Chayra info at ux.xyz