Komodo has built-in Cosmos on AtomicDEX to attach the Cosmos ecosystem to different blockchain networks. Komodo’s AtomicDEX is a cross-chain protocol, DEX, and non-custodial pockets that helps each UTXO and EVM-based networks.
The mixing will present the Cosmos ecosystem with a permissionless and safe resolution for buying and selling with a whole bunch of blockchains, together with Bitcoin, Ethereum, Polygon, Avalanche, and Optimism.
Komodo’s AtomicDEX makes use of P2P cross-chain atomic swaps, eradicating the safety threats related to centralized liquidity swimming pools, AMMs, and sophisticated good contracts. Its present iteration helps 10,000 swaps per minute and is ready to scale upwards if vital. The AtomicDEX P2P community permits customers to carry each the native ATOM token and its wrapped variations to commerce natively cross-chain.
Kadan Stadelman, the CTO of Komodo, mentioned that Cosmos has a few of the most modern DeFi builders and tasks, all of whom share the idea that the longer term is multi-chain. Nevertheless, regardless of its progress, Cosmos failed to supply its customers with viable bridging options.
“Whereas I used to be making an attempt to commerce BTC for ATOM, the one choices had been to make use of centralized exchanges, so it was a pure match and private must develop interoperability between extra chains and Cosmos. AtomicDEX is appropriate with 99% of cryptocurrencies in existence and gives the widest cross-chain, cross-protocol buying and selling help within the trade.”
As of July 2022, Cosmos held 0.82% of the overall worth locked (TVL) in DeFi. The community hosts over 200 purpose-built Cosmos native dApps and is rising regularly. Whereas there are some bridging options constructed on Cosmos, they solely help Ethereum and Cosmos-based blockchains.
Stadelman believes there may be a lot room to develop, with innovation being the important thing to Cosmos’ progress.
“We see Cosmos changing into a high three crypto mission, so we’ll proceed to look at key metrics such because the variety of dApps, lively customers/addresses, and lively builders,” Kadelman mentioned. “The flexibility to launch sovereign and interconnected blockchains with Cosmos is important to the expansion of the entire crypto ecosystem.”
