Osmosis is an automated market maker (AMM) constructed using the Cosmos SDK, specializing in the Interchain DeFi movement (Tendermint-based blockchains) within the Cosmos ecosystem. In essence, Osmosis is a decentralized exchange specifically designed for Cosmos, with plans to encompass additional blockchains.
What is Osmosis Coin (OSMO)?
OSMO is the native token of Osmosis, underpinning the entire protocol and intended to facilitate everything from liquidity mining reward allocation to fundamental network transaction fees.
As a governance token, OSMO grants its holders the capacity to determine the project’s strategic direction. It can be employed to vote on protocol upgrades, allocate liquidity mining rewards for particular liquidity pools, and establish the base network clearing fee.
OSMO token holders dictate which pools qualify for liquidity rewards, aligning stakeholders and LPs with the protocol’s longevity. OSMO is distinctive in its ability to simultaneously stake and provide liquidity.
Osmosis is the brainchild of Osmosis Labs, founded by Sunny Aggarwal and Josh Lee. Although Osmosis Labs Pte. Ltd. (Osmosis Labs) is responsible for much of the initial code development for the Osmosis protocol, the project is actually governed by a decentralized set of validators. The Osmosis community (holders of the OSMO governance token) votes on and implements every upgrade and modification to the protocol.
Consequently, no single entity involved in Osmosis bears legal liability for claims or damages, reflecting the protocol’s “decentralized” nature. Osmosis secured $21 million in an October 2021 token sale led by Paradigm.
Where to Buy OSMO Coin?
OSMO Coin can be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. OSMO Coin is available on the Binance platform in the OSMO/BTC, OSMO/USDT, and OSMO/BUSD pairs. At the time of writing, OSMO Coin is trading at $1.
To acquire OSMO, first register with the Binance exchange. After completing the registration process, transfer cryptocurrency or fiat currency to your Binance account wallet. Once the transfer is finalized, you can purchase OSMO Coin using any of the three aforementioned currencies. To buy from the OSMO/USDT trading pair, navigate to its interface. In the OSMO/USDT interface, input the desired purchase quantity in the designated field within the limit tab. After specifying the amount, execute the purchase with the OSMO Buy order.
