Decentralized exchange Osmosis has announced the launch of a new bridge that supports the trading of Ethereum-based digital assets.
Gravity Bridge is an inter-blockchain protocol developed by the Internet service provider, Althea.
Althea’s team has been working on the bridge, that features a slashing mechanism for the underperforming validator nodes, for years.
Osmosis labs co-founder, Sunny Aggarwal, notes that expansion through redeployment has evident drawbacks.
Aggarwal thinks that the redeployment by apps on multichain systems results in liquidity and user experience fragmentation.
Osmosis being an app-centered chain means that the developer could augment user experience by adding MetaMask signatures, which are not supported on Cosmos.
Aggarwal notes that the protocol aims to benefit from Terra’s UST, citing the $160 million in OSMOUST liquidity pool on Osmosis alone.
Osmosis TVL has almost doubled in a month to $1.6 billion. Its native OSMO token is currently trading at $9.56, up 1.3%.
Source: Coindesk