Interest paid by traders is returned to liquidity providers as non-inflationary revenue. They can also open numerous positions per wallet, close positions, and view open positions and interest rates. Traders can currently open margin positions and long tokens at up to 5x leverage, however, the platform plans to increase that to as much as 100x. Sifchain has also introduced margin trading on its platform. An EVM token imported into Sifchain is usable in any IBC chain and EVM chains through double pegging. Furthermore, the technology allows for double pegging, which is the ability to import a token from one chain and export it to another. This, in turn, facilitates permissionless trading between Sifchain and EVM chains.
Peggy allows for bidirectional connectivity with EVM blockchains. This is made possible with Sifchain’s own Peggy Bridge technology. Therefore, users have access to significantly more Ethereum tokens on this protocol than on others within Cosmos. Sifchain is the only appchain DEX on Cosmos with a built-in bridge to EVM-compatible blockchains. However, it’s the only DEX that currently supports transferring to non-IBC enabled chains as well. The DEX is built with the Cosmos SDK and is IBC enabled, allowing users to cheaply and efficiently swap tokens across blockchains on the Cosmos ecosystem. Sifchain is one of the most innovative projects on Cosmos. During the bear market, the TVL currently hovers around $200 million, with a daily trading volume of around $20 million. In fact, the protocol’s generous liquidity incentives are credited for its relatively higher TVL. Osmosis users can also become liquidity providers and earn rewards in interest, albeit through an inflationary reward system. It features a friendly user interface that allows users to swap between tokens from different chains conveniently. The Osmosis DEX is the center of an ecosystem of dApps like aggregators, bridges, and blockchain explorers. Its daily trading volume peaked on May 11, 2022, at just over $500 million. At its peak in March this year, the protocol had a total value locked (TVL) of more than $1.5 billion. It’s the largest and most active DEX in the Cosmos ecosystem. Osmosis is an interchain automated market maker (AMM) built using the Cosmos SDK framework.
This has helped unlock new levels of liquidity and opportunities for investment in DeFi. This is because through IBC, DEXs on Cosmos support asset transfer across the different IBC-enabled blockchains. Of these, decentralized exchanges (DEXs) act as seminal gateways to the flow of users, assets, and ideas.
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This has made Cosmos the center of a rapidly developing DeFi scene full of innovative L1 chains, application chains, and infrastructure. Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position CloseĬosmos is “the internet of blockchains.” Built with interoperability at its core, it supports an ecosystem of blockchains connected to each other through its own inter-blockchain communication (IBC) protocol.
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