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Binance has seen its Cosmos (ATOM)-based altcoin surge after the exchange listed the asset in the innovation zone on Thursday.
binance roll out Trading services of Osmosis (OSMO). An automated market maker (AMM) protocol built on the Cosmos software development kit (SDK) aimed at enabling cross-chain trading using inter-blockchain communication (IBC).
explain project website,
Osmosis allows users to launch liquidity pools with unique parameters such as bond curves and multi-weight asset pools. Osmosis incentive structure is also adaptable. Implement Liquidity Reward (LP) rewards in , enabling strategically targeted incentives.
Osmosis is a fair-launched, customizable automated market maker for interchain assets that enables the creation and management of a non-custodial, self-balancing interchain token index, similar to one of Balancer.
Osmosis’ native governance token, OSMO, was trading at around $1.30 before Binance’s announcement, but quickly surged more than 33% to a new all-time high of $1.73.
The 66th-ranked crypto asset by market capitalization has since made a partial comeback, trading at $1.61 at the time of writing, but up 24% on the day. Despite the price jump, it is still down more than 85% from its all-time high of $11.25 in March.
Binance’s “Innovation Zone” is a dedicated trading space for crypto assets that are prone to sharp price fluctuations.
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