Osmosis, a cross-chain exchange network developed by Sunny Aggarwal and Dev Ojha, was officially launched on February 19th, 2021. Powered by the Cosmos SDK and Inter-Blockchain Communication (IBC), Osmosis enables seamless cross-chain transactions and boasts a full-service cross-chain exchange with decentralized applications (dApps) under continuous development. The network operates on an Automated Market Maker (AMM) protocol and its native token serves as the governance token, allowing holders to vote on upgrades and allocate mining rewards. With a total supply of 587,378,721 coins and a circulating supply of 492,590,761 coins, Osmosis has garnered significant attention from investors and traders alike.
For those interested in trading Osmosis, it is advised to first acquire Ethereum or Bitcoin through popular exchanges such as GDAX, Gemini, or Coinbase (NASDAQ:COIN) before purchasing Osmosis tokens. This process ensures a smooth transition into the Osmosis ecosystem and allows users to take advantage of the network’s cross-chain capabilities.
On the day of Osmosis’ launch, the performance of various cryptocurrencies varied. KILT Protocol experienced a significant surge of 27.6%, indicating growing investor interest. Conversely, Aidi Finance, Zoo Token, and CareCoin witnessed a decline of 2.2%. OmniaVerse, Kitty Inu, and Hokkaidu Inu also displayed mixed performances, with OmniaVerse decreasing by 13.4% and Kitty Inu and Hokkaidu Inu increasing by 1.9% and 1.2% respectively. Lego Coin maintained its value stability, while Jeff in Space decreased and Lumi Credits increased.
Aside from its trading activities, Osmosis maintains an active presence on social media platforms. The network can be followed on its official Twitter account, @osmosiszone, as well as its Facebook page. Additionally, Osmosis has an official website where users can find more information about the project and its latest updates.
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