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15.11 - 03:19
Cosmos-based DEX Osmosis raises $21M in from a consortium of investors
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Osmosis, a decentralized exchange, or DEX, on the Cosmos blockchain, raised $21 million dollars in a token sale led by VC fund Paradigm along with a consortium of investors including Robot Ventures, Nascent, Ethereal, and Figment.
Osmosis allows developers to build customized Automated Market Makers, or AMMs, with sovereign liquidity pools. The DEX uses a native token called OSMO for governance and staking, and currently contains a total of $544 Million.
The project alleges to provide superfluid staking and instant block confirmation. Superfluid staking lets liquidity holders stake their LP tokens to earn pro rata staking rewards in OSMO. This gives token holders the ability to compound staking and liquidity yields while keeping the network
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