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NewsCosmos App-Chains Osmosis and Umee Announces to Merge

Cosmos App-Chains Osmosis and Umee Announces to Merge

Dec 05,2023,02:21

Two Cosmos app-chain Umee and Osmosis announced they will merge via a software upgrade. Umee's UX chain code will be reimplemented on the Osmosis chain, allowing features of the two networks to be combined and creating a "DeFi Hub" for the Cosmos ecosystem.

Umee is a DeFi lending protocol runs on the app-chain called "UX Chain", while Osmosis chain is the laregst DEXs in the Cosmos ecosystem.

The integration will allow the lending app and DEX to exist on the same chain, and will provide new features including spot margin trading, shorting, liquidations, stablecoin pools, interchain flash loans, MEV markets and others.

The specific date for the merger is not yet announced, the development team will make a proposal that will have a call to action for the community to discuss and decide on how to manage the tokenomics.

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