Composable x Osmosis: the first instance of cross-ecosystem IBC
The DotSama and Cosmos ecosystems are now trustlessly connected through the Inter-blockchain Communication (IBC) protocol, via Centauri. This paves the way for a new era of user and liquidity convergence and opens up a world of fresh use-cases and solutions. Our ultimate vision is a comprehensive, secure, and fluid experience for users across all chains within both ecosystems.
We have embarked on several initiatives and strategic plans to enhance cross-ecosystem activity and connectivity for users and developers, starting with our first connection between our Kusama parachain, Picasso, and Cosmos’ leading DEX, Osmosis. Together we aim to provide the infrastructure and tools to allow any dApp to offer secure cross-ecosystem services to their users.
Composable 🤝 Osmosis
We are excited to join forces with Osmosis to achieve our mutual goal of unifying and streamlining the user and developer experience as we merge the DotSama and Cosmos ecosystems. Our teams share the same vision of fostering a more unified, liquid landscape for all users and developers, promoting collaborative innovation, and propelling the industry towards broader adoption.
With this connection, we expect to see the first surge in the availability of liquidity through cross-ecosystem access. The end-goal, in practical terms: users will be able to execute functions on any chain, with the necessary liquidity drawn securely from any connected chain across these ecosystems via IBC, enhancing security and efficiency of cross-chain asset transfers and overall user experience.
We are thrilled to kickstart this journey with Osmosis as they are a prime example of what is possible when IBC is utilized to its fullest potential, having currently secured ~130M TVL and boasting the highest volume of IBC transfers in the Cosmos. Through this connection, we plan to introduce Polkadot’s innovative applications to the more liquid Cosmos ecosystem, benefitting all parachain teams integrating with Centauri. At the same time, Cosmos users will have a chance to discover DotSama-native projects without the need to navigate a new ecosystem or its native wallet services. This advantage is dual-sided as users of the Pablo DEX are also presented with the opportunity to gain exposure to native Cosmos assets like OSMO and eventually ATOM from their DotSama wallets.
🚨New Liquidity Pools & Incentives🚨
The era of native cross-ecosystem assets is upon us. Our collaboration with teams such as Osmosis is aimed at eliminating the trade-off between asset security and cross-ecosystem opportunities. We worked closely with Osmosis to launch and incentivize the first IBC-powered cross-ecosystem pools on Pablo and the Osmosis DEX. Now, users will no longer have to choose between risking the security of their assets or participating in opportunities that arise via cross-chain and cross-ecosystem token pairings, strategies, and functionalities. To start, we are introducing 5 pools that represent the first instance of trustlessly paired pools between DotSama and Cosmos assets:
✅Currently live on Osmosis:
💡This pool is incentivized with ~100M in $PICA over the next year.
✅Currently live on the Pablo DEX:
🎨$DOT / $OSMO
🎨$KSM / $OSMO
🎨$USDT / $OSMO
💡In the near future, we plan to introduce more pools, introducing Cosmos assets such as $ATOM to Pablo, and native-$DOT and $KSM to Osmosis. 💡
We will continue to explore new asset pairings, specifically to replace and eliminate the need for any asset pairings that require a trusted intermediary. Furthermore, we are in conversations to help parachain teams, that are integrated with Centauri, to list their tokens on Cosmos. This is only the start, as our founder and CEO, 0xbrainjar, mentioned on Osmosis’ Twitter Space, Updates from the Lab, asset transfers and DEX listings are only the beginning of what is possible with IBC. This connection seeks to bring together the users, liquidity, and developer bases of both ecosystems to bolster blockchain interoperability as a whole. We look forward to continuing these collaborative efforts with teams and sharing updates across our socials. The convergence of ecosystems via IBC is set to establish the path toward our vision of: any money, any chain, anywhere.
Osmosis is the premier cross-chain DeFi hub. As the liquidity center and primary trading venue of Cosmos — the 50+ sovereign Layer 1s connected with the Inter-Blockchain Communication protocol (IBC) — it is the gateway to the interchain.
And with the impending arrival of dYdX to Cosmos, and the forging of IBC connections to Avalanche, Polkadot, NEAR, and even Ethereum, access to appchains is only growing in importance.
With its suite of DAO-gated dApps — including the just-launched Mars lending and credit protocol, as well as upcoming features like Levana perps, Quasar strategy vaults, and the Ion Cosmos ETF — the Osmosis Ecosystem provides UX-optimized DeFi for the cross-chain future.
About Composable & Picasso:
Composable Finance (“Composable”) is dedicated to improving the accessibility, efficiency, and security of the blockchain industry. The team aims to do this by pioneering innovative Web3 user experiences in a trustless, non-custodial, and decentralized manner. Composable’s technology stack enables and combines key services across different blockchain ecosystems and protocols, such as Ethereum, Polkadot, Kusama, Cosmos, and the NEAR Protocol.
Picasso is Composable’s layer 1 blockchain acting as an infrastructure layer to pioneer interoperable DeFi solutions, with a native token named $PICA which is available at the Pablo DEX. Picasso is equipped with a robust set of novel DeFi primitives that are built as modular pallets, such as their cross-ecosystem IBC transfer protocol, Centauri. These pallets are designed to attract liquidity from the broader DeFi landscape whilst promoting interoperability between various ecosystems.