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Osmosis and UX Chain are exploring the possibilities of merging

Osmosis and UX Chain are exploring the possibilities of merging

Dec 4, 2023

Osmosis, the largest decentralized exchange (DEX) in the Cosmos ecosystem, and the lending protocol UX Chain have announced plans to merge. This proposal will be implemented subject to community approval. If approved, both platforms will join forces to create a powerful decentralized finance (DeFi) hub.

The developers have outlined a phased integration plan. The initial stage includes the integration of the UX Chain codebase into the Osmosis blockchain, which will combine the total value locked (TVL) of both platforms. This action is aimed at expanding influence in the Cosmos ecosystem and opening new opportunities in the DeFi sector.

Next, there is a plan to merge the OSMO and UX tokens, with the community playing a key role in setting the parameters for asset exchange, thereby ensuring transparency and fairness of the process. The merger promises several advantages, including the launch of margin trading, shorting capabilities, the introduction of the first cross-chain flash loans, and the creation of maximum extractable value (MEV) markets.

The developers are confident that integrating the UX Chain code into Osmosis will create a more powerful and versatile blockchain platform. Furthermore, the merger is aimed at enhancing the security of Osmosis, minimizing vulnerabilities, and increasing user trust.

According to CoinGecko, the native token of Osmosis (OSMO) recently rose by 3.3%, exceeding a market capitalization of $460 million, trading at around $0.732. The UX Chain token also showed growth, increasing by 16.4% over the last 24 hours, with a market capitalization approaching $17.4 million.


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