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Osmosis is an automated market maker (AMM) built with the Cosmos SDK, specializing in the InterchainDeFi movement within the Cosmos ecosystem (Tendermint-based blockchains). In simpler terms, Osmosis is a decentralized exchange created specifically for Cosmos, with plans for expansion to more blockchains.
What is Osmosis Coin (OSMO)?
OSMO is the native token of Osmosis, forming the foundation of the entire Osmosis protocol. It is designed to facilitate everything from liquidity mining reward allocation to fundamental network transaction fees.
As a governance token, OSMO allows holders to influence the strategic direction of the project. It can be used to vote on protocol upgrades, allocate liquidity mining rewards to specific liquidity pools, and set the fundamental network swap fee.
OSMO token holders, stakeholders, and liquidity providers (LPs) align with the protocol’s longevity by determining which pools qualify for liquidity rewards. OSMO is considered unique because it can be used simultaneously for staking and providing liquidity.
Osmosis is a product of Osmosis Labs, founded by Sunny Aggarwal and Josh Lee. Osmosis Labs Pte. Ltd. (Osmosis Labs) is responsible for most of the initial code development for the Osmosis protocol. However, the Osmosis project operates under a decentralized validator set. Every upgrade and change to the protocol is voted on and implemented by the Osmosis community, composed of OSMO governance token holders.
Consequently, no single entity involved in Osmosis is legally liable for claims or damages, reflecting the protocol’s “decentralized” nature. Osmosis raised $21 million during a token sale led by Paradigm in October 2021.
Where to Buy OSMO Coin?
OSMO Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. On Binance, OSMO Coin is traded in the OSMO/BTC, OSMO/USDT, and OSMO/BUSD pairs.
To purchase OSMO, you must first register on the Binance exchange. After completing registration, transfer cryptocurrency or fiat currency to your Binance account wallet. Once the transfer is complete, you can purchase OSMO Coin using any of the three mentioned pairs. To buy using the OSMO/USDT trading pair, navigate to the interface for that pair. In the limit section of the interface, enter the amount you wish to purchase. After specifying the amount, finalize the transaction by placing a Buy OSMO order.
