DeFi

Fireblocks integrates with Cosmos (ATOM) to improve DeFi via osmosis

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8 months ago

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Fireblocks, a leading digital asset custody platform, announced its integration into the Cosmos (ATOM) ecosystem, leveraging decentralized exchange (DEX) and DeFi hub, Osmosis. The move is expected to significantly improve the DeFi features available to Fireblocks users, according to fireblocks.com.

About osmosis

Osmosis is a leading cross-chain DEX and DeFi hub within the Cosmos ecosystem. To date, it has processed over $33 billion in transaction volume and connected over 90 blockchains to its application chain. This integration facilitates a wide range of DeFi applications that combine native functionality with third-party integrations, providing a comprehensive user experience that often exceeds centralized exchanges.

A leader in inter-blockchain communication (IBC) volume, Osmosis has processed over $1 billion in transactions over the past 30 days. Upcoming developments for 2024 include the introduction of Alloyed Assets, Smart Accounts, BTC Staking and Mesh Security, aiming to further consolidate its position in the DeFi landscape.

What Fireblocks Users Can Do With Osmosis

Fireblocks users can now interact securely with Osmosis with the following features:

  • Keep OSMO tokens in their Fireblocks vault.

  • Transfer OSMO securely over the Fireblocks network.

  • Connect to dApps on Osmosis via WalletConnect.

  • Stake OSMO through staking partners like Figment and Kiln.

Osmosis: at a glance

  • Osmosis is consistently ranked #1 in IBC volume, facilitating over $1 billion in IBC transactions in the last 30 days (source).

  • The DEX has facilitated a total trading volume of over $33 billion to date (source).

  • Osmosis has recorded trading volume of over $1 billion for five consecutive months (source).

  • THE protocol has generated over $7 million in revenue since January 2024 (source).

  • The market cap of Osmosis stablecoins increased by almost 400% year over year (source).

  • Grayscale’s GDIF fund includes 24% OSMO tokens (source).

The integration between Fireblocks and Cosmos via Osmosis marks a significant advancement in the DeFi space, providing users with safer and more efficient ways to interact with decentralized finance.

Image source: Shutterstock

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