Osmosis and UX Chain Announce Merger to Create Comprehensive DeFi Hub
Osmosis and UX Chain are merging to create a comprehensive DeFi hub. The merger will combine UX Chain’s lending logic and algorithms with Osmosis’ decentralized exchange, the largest DEX on Cosmos.
Merger Plan
The merger will take place in incremental steps, starting with the assimilation of UX Chain’s codebase into the Osmosis Chain. Osmosis has established itself as the most successful DEX in the Cosmos ecosystem, while UX Chain is the dominant lending platform in Cosmos.
Maximizing Capabilities
The merger aims to maximize the capabilities of both platforms. The initial phase will harmonize the total value locked across the two networks, with separate trading of their respective tokens. A subsequent step may involve consolidating the tokens through a swap or migration process.
Community Governance
Each chain will have separate governance votes from each blockchain network. Community governance will manage the processes separately towards creating the DeFi hub.
Empowering UX Chain
The merger seeks to empower UX Chain to enhance Osmosis’ mesh security by leveraging combined expertise and merging validator sets. They may also explore advanced liquidations, native margin trading, and MEV markets.
Excitement for Collaboration
The merger proposal aims to introduce powerful new features and functionalities for users. Both teams are excited to continue their collaboration and work towards creating a successful DeFi hub.
Hot Take: Osmosis and UX Chain Join Forces to Expand DeFi Ecosystem
Osmosis and UX Chain have announced their plans for a merger, combining their strengths in decentralized exchange and lending platforms. The goal is to create a comprehensive DeFi hub that maximizes the capabilities of both networks. With separate governance votes and a focus on community consensus, this merger aims to empower UX Chain to enhance Osmosis’ mesh security and explore new opportunities in advanced liquidations, margin trading, and MEV markets. The teams are excited about the potential for collaboration and the powerful features that will be introduced for users. This merger sets the stage for an expanded DeFi ecosystem on Cosmos.
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