QuickSwap Expands to Cosmos with Kinetix Finance
QuickSwap, the leading DEX on Polygon, is venturing beyond Ethereum scaling solutions. The core members of QuickSwap’s development team have launched a perpetual trading platform called Kinetix Finance on the Kava chain, which is compatible with Cosmos’ EVM.
Uniting the Polygon and Cosmos Ecosystems
QuickSwap aims to unite the Polygon and Cosmos ecosystems through its partnership with Kinetix. The QuickSwap community has approved a governance proposal, allowing QuickSwap to add “Kava (Kinetix)” to its list of supported chains. In return, QuickSwap will receive 1% of Kinetix’s KFI token supply and gain access to liquidity from the Cosmos ecosystem.
A Step towards Interoperability
The collaboration with Kinetix is seen as a significant step towards achieving seamless interoperability between Polygon and Cosmos-powered chains. Although the ultimate goal is for IBC and Polygon Supernets to unite at a deeper level, this partnership brings together the communities of both ecosystems.
Kinetix Finance Offers Leveraged Trading
Kinetix Finance provides leveraged trading for various assets including KAVA, axlETH, axlWBTC, ATOM, and USDT. Similar to QuickSwap’s Polygon zkEVM perpetual DEX called QuickPerps, Kinetix offers up to 50 times leverage on these assets.
Bringing Liquidity to the Kava Chain
The partnership between QuickSwap and Kinetix aims to bring $300 million to $500 million worth of liquidity to the Cosmos-powered Kava chain. Tether already chose KAVA for its native USDT launch on Cosmos, attracting $100 million in liquidity.
The Potential of Collaboration
Polygon and Cosmos are known for their technical capabilities and app-specific chains. Collaboration between these networks has the potential to benefit the broader crypto industry. QuickSwap’s expansion to Cosmos signifies an important first step towards realizing this potential.
Hot Take: QuickSwap Expands to Cosmos with Kinetix Finance
QuickSwap, the leading DEX on Polygon, is taking a significant step towards interoperability by expanding its operations to the Cosmos ecosystem through its partnership with Kinetix Finance. This move aims to bring together the communities of Polygon and Cosmos while providing access to liquidity from both ecosystems. With leveraged trading options and plans to bring substantial liquidity to the Kava chain, QuickSwap and Kinetix are poised to make a significant impact on the DeFi landscape. The collaboration between Polygon and Cosmos has the potential to revolutionize the crypto industry by leveraging their respective strengths and technical capabilities.
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