Merge

Osmosis

UX Chain

Cosmos

Cosmos-based ecosystems Umee and Osmosis are set to merge through a software upgrade, according to an announcement made on December 4th. The implementation of Umee’s UX Chain code within the Osmosis ecosystem will allow the integration of both networks’ features and facilitate the creation of what development teams call a <a href="https://en.coin-turk.com/decentralized-finance-defi-unleashing-the-future-of-transparent-financial-system/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DeFi</a> Hub within the Cosmos ecosystem.
<h2 style="text-align: justify" id="a-significant-step-in-the-cosmos-ecosystem">A Significant Step in the Cosmos Ecosystem</h2>
Umee stands out as a decentralized lending protocol operating on its own specialized Cosmos ecosystem called UX Chain. On the other hand, Osmosis is one of the largest decentralized exchanges (DEXs) within the Cosmos ecosystem, serving users on its own dedicated network.
According to data from blockchain data analytics firm DeFiLlama, Osmosis has a cumulative volume of over $23 billion and ranks as the fourth largest Cosmos chain in terms of Total Value Locked (TVL).
As per the announcement made on December 4th, the development teams behind the protocols have agreed to merge the two networks, enabling the presence of both the lending application and the <a href="https://en.coin-turk.com/what-is-dex-exchange/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DEX</a> on the same blockchain.
<img decoding="async" loading="lazy" 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 that were previously impossible, including spot margin trading, short selling, liquidations, stablecoin pools, cross-chain flash loans, MEV markets, and other services. Sunny Agarwal, co-founder of Osmosis, commented on the matter:
“The unified architecture of both chains’ functionalities will open the door for flash loans and new MEV forms on the same DeFi Hub. We initially considered the flashmint solution through protorev for multiple types of cross-chain arb and 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, officials called on users to stay alert for more updates. As for the Umee UX Chain (UX) token, CEO Brent Xu stated that the token would remain in circulation. Xu explained that the development team would make a proposal, calling for community discussion and decision-making on how the UX token will be managed. Continue Reading: <a href="https://en.coin-turk.com/cosmos-based-ecosystems-umee-and-osmosis-to-merge-through-software-upgrade/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/cosmos-based-ecosystems-umee-and-osmosis-to-merge-through-software-upgrade/</a>

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

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