Cosmos-based DEX Osmosis hit $1.121 billion in month-to-month quantity throughout December 2023, primarily based on DefiLlama information.

The DEX’s native token OSMO has surged on the again of elevated exercise and is at the moment buying and selling at $1.51, up 121.97% over the previous 30 days, primarily based on CryptoSlate information.

It marks the primary time the buying and selling quantity on the DEX has crossed $1 billion since Might 2022, earlier than the Terra Luna collapse, which wiped billions of {dollars} in liquidity from the Cosmos ecosystem.

Resurgence

Osmosis operates as each a DEX and an automatic market maker (AMM) throughout the Cosmos community. It stands out for permitting customers to create and handle their very own liquidity swimming pools with customizable parameters.

It operates on a non-custodial infrastructure and is a part of the bigger Cosmos SDK universe, supporting over 47 chains inside this ecosystem. The platform is famend for its interoperability, facilitated by the Inter-Blockchain Communication (IBC) protocol, and affords a sophisticated infrastructure for creating native interchain functions and sensible contracts.

With the resurgence of bull exercise within the crypto markets, many blockchain ecosystems are seeing renewed curiosity amid new venture launches. Cosmos is without doubt one of the main blockchains when it comes to investor curiosity as a result of its distinctive know-how.

Osmosis has equally seen a revival in exercise amid elevated curiosity in Cosmos and its surrounding ecosystem as a result of new token launches like Celestia (TIA) and quite a few airdrops on the horizon.

Airdrop frenzy

Airdrop farming within the Cosmos ecosystem has been a major driver of exercise in latest weeks, attracting customers and contributing to the community’s progress.

At its core, airdrop farming entails customers staking particular tokens to earn rewards, with the potential to obtain further tokens sooner or later. The observe has been more and more widespread, and quite a few protocols have launched their tokens via airdrops each up to now and in latest months.

This exercise is facilitated by the interoperability of the Cosmos platform, which permits for various participation and reward mechanisms. Wallets that stake the DEX’s native token OSMO are robotically eligible for lots of the Cosmos airdrops.

Airdrops have change into one of many most important methods Net 3 protocols entice new customers and exercise by promising future rewards.