Merge

Osmosis

UX Chain

Cosmos

Cosmos-based ecosystems Umee and Osmosis will merge through a software upgrade according to an announcement made on December 4th. Umee’s UX Chain code will be reimplemented within the Osmosis ecosystem, allowing the combination of features from both networks and enabling the development teams to create what they call a <a href="https://en.coin-turk.com/the-revival-of-the-defi-market-total-value-reaches-45-billion/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DeFi</a> Hub within the Cosmos ecosystem.
<h2 style="text-align: justify" id="significant-step-in-the-cosmos-ecosystem">Significant Step in the Cosmos Ecosystem</h2>
Umee stands out as a decentralized lending protocol operating on its own specialized Cosmos ecosystem, named UX Chain. Meanwhile, Osmosis is one of the largest decentralized exchanges (DEXs) within the Cosmos ecosystem and serves Cosmos users on its own dedicated network.
According to data from blockchain data analytics firm DeFiLlama, Osmosis has a cumulative volume of over 23 billion dollars and is the fourth-largest Cosmos chain in terms of total value locked (TVL).
The announcement made on December 4th indicated that the development teams behind the protocols have agreed to merge the two networks, which will enable both the lending application and the <a href="https://en.coin-turk.com/how-to-use-dex-exchange/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DEX</a> to exist on the same chain.
<img decoding="async" class="aligncenter wp-image-284472 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/umee.webp" alt="" width="771" height="469">
<h2 style="text-align: justify" id="how-will-the-process-continue">How Will the Process Continue?</h2>
With this step, the teams will enable users to access advanced features previously unavailable, including spot margin trading, short selling, liquidations, stablecoin pools, cross-chain flash loans, MEV markets, and other services. Sunny Agarwal, a founding partner of Osmosis, commented on the matter:
“The combined architecture of both chain functionalities will open the door to flash loans and new MEV formats on the same DeFi Hub. Initially, we considered the flashmint solution via protorev for multiple types of cross-chain arbitrage, and we realized that a lending protocol on the same chain would further optimize this vision.”
The announcement did not specify an exact date for the merger. Instead, authorities have called on users to stay alert for more updates. Regarding the Umee UX Chain (UX) token, CEO Brent Xu stated that the token would remain in circulation. Xu announced that the development team would make a proposal and call to action for the community to discuss and decide how the UX token would be managed. Continue Reading: <a href="https://en.coin-turk.com/cosmos-based-ecosystems-umee-and-osmosis-to-merge-via-software-upgrade/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/cosmos-based-ecosystems-umee-and-osmosis-to-merge-via-software-upgrade/</a>

Cosmos-Based Ecosystems Umee and Osmosis to Merge via Software Upgrade

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