Cosmos-based DEX Osmosis hit $1.121 billion in monthly volume throughout December 2023, based mostly on DefiLlama data.
The DEX’s native token OSMO has surged on the again of elevated exercise and is at the moment buying and selling at $1.51, up 121.97% over the previous 30 days, based mostly on CryptoSlate information.
It marks the primary time the buying and selling volume on the DEX has crossed $1 billion since Could 2022, earlier than the Terra Luna collapse, which wiped billions of {dollars} in liquidity from the Cosmos ecosystem.
Resurgence
Osmosis operates as each a DEX and an automatic market maker (AMM) throughout the Cosmos community. It stands out for permitting customers to create and handle their very own liquidity swimming pools with customizable parameters.
It operates on a non-custodial infrastructure and is a part of the bigger Cosmos SDK universe, supporting over 47 chains inside this ecosystem. The platform is famend for its interoperability, facilitated by the Inter-Blockchain Communication (IBC) protocol, and gives a complicated infrastructure for creating native interchain purposes and sensible contracts.
With the resurgence of bull exercise in the crypto markets, many blockchain ecosystems are seeing renewed interest amid new undertaking launches. Cosmos is among the main blockchains in phrases of investor interest attributable to its distinctive know-how.
Osmosis has equally seen a revival in exercise amid elevated interest in Cosmos and its surrounding ecosystem attributable to new token launches like Celestia (TIA) and quite a few airdrops on the horizon.
Airdrop frenzy
Airdrop farming in the Cosmos ecosystem has been a major driver of exercise in current weeks, attracting customers and contributing to the community’s development.
At its core, airdrop farming entails customers staking particular tokens to earn rewards, with the potential to obtain extra tokens in the long run. The apply has been more and more frequent, and quite a few protocols have launched their tokens by means of airdrops each in the previous and in current months.
This exercise is facilitated by the interoperability of the Cosmos platform, which permits for various participation and reward mechanisms. Wallets that stake the DEX’s native token OSMO are robotically eligible for lots of the Cosmos airdrops.
Airdrops have develop into one of many fundamental methods Net 3 protocols appeal to new customers and exercise by promising future rewards.
