Coinbase customers can now trade the Cosmos (ATOM)-based decentralized finance (DeFi) altcoin Osmosis (OSMO).
The top US crypto exchange added support for the altcoin under its “Experimental Label,” a designation it established for riskier, lower liquidity tokens.
Osmosis is an automated market maker (AMM) protocol built on the Cosmos software development kit (SDK). It aims to enable cross-chain transactions by utilizing inter-blockchain communication (IBC).
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Osmosis’ native governance token, OSMO, is trading at around $0.5986 at time of writing. The 110th-ranked crypto asset by market cap is down 0.6% in the past 24 hours and more than 2.6% in the past week.
The protocol ranks 12th among all decentralized exchanges (DEXs) with $147.9 million in total value locked (TVL), according to the crypto tracker DeFi Llama.
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