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Fireblocks Integrates with Cosmos (ATOM) to Enhance DeFi via Osmosis - Blockchain.News

Fireblocks Integrates with Cosmos (ATOM) to Enhance DeFi via Osmosis

Zach Anderson May 30, 2024 14:45

Fireblocks integrates with Cosmos, leveraging Osmosis to enhance DeFi functionalities.

Fireblocks Integrates with Cosmos (ATOM) to Enhance DeFi via Osmosis

Fireblocks, a leading digital asset custody platform, has announced its integration with the Cosmos (ATOM) ecosystem, leveraging the decentralized exchange (DEX) and DeFi hub, Osmosis. This move is set to significantly enhance the DeFi functionalities available to Fireblocks users, according to fireblocks.com.

About Osmosis

Osmosis is a prominent cross-chain DEX and DeFi hub within the Cosmos ecosystem. To date, it has handled over $33 billion in trading volume and connected more than 90 blockchains to its app chain. This integration facilitates a wide range of DeFi applications that combine native features with third-party integrations, offering a comprehensive user experience that often surpasses centralized exchanges.

Leading in Inter-Blockchain Communication (IBC) volume, Osmosis has processed over $1 billion in transactions in the last 30 days. Upcoming developments for 2024 include the introduction of Alloyed Assets, Smart Accounts, BTC Staking, and Mesh Security, aiming to further solidify its position in the DeFi landscape.

What Fireblocks Users Can Do with Osmosis

Fireblocks users can now securely engage with Osmosis through the following features:

  • Custody OSMO tokens in their Fireblocks Vault.
  • Transfer OSMO securely on 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 over the last 30 days (source).
  • The DEX has facilitated over $33 billion in total trading volume to date (source).
  • Osmosis has seen over $1 billion in trading volume for five consecutive months (source).
  • The protocol has generated over $7 million in revenue since January 2024 (source).
  • The market cap of Osmosis stablecoins has increased by nearly 400% year-over-year (source).
  • Grayscale’s GDIF Fund comprises 24% OSMO tokens (source).

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

Image source: Shutterstock