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What is Osmosis coin (OSMO) and how does it work?

by Financial Economy

OSMO coin is the native cryptocurrency of the platform known as Osmosis. This currency enables transactions on a decentralized peer-to-peer blockchain. This platform is a system that people can use to create liquidity and make tokens with IBC feature. Information about what is Osmosis coin (OSMO), how it works, how to buy, which exchange is it avaliable on, how much is it, etc is in continuation of the article. You can browse here for information about PolySwarm coin (NCT).

What is Osmosis coin (OSMO) and how does it work?

The Osmosis project is an automated market maker built with the Cosmos SDK. It specializes in the Interchain DeFi movement (Tendermint-based blockchains) in the Cosmos ecosystem. In other words, the Osmosis project is a decentralized exchange built specifically for Cosmos, with plans to expand to more blockchains. The native cryptocurrency of the platform is OSMO coin.

Osmosis coin aim!

The main purpose of the Osmosis project as a DEX is to support a heterogeneous and interoperable cross-chain trading experience. The Osmosis project stands out as the first decentralized exchange (DEX) service platform connected via the Blockchain Inter-Channel Communication Protocol (IBC). To best understand the Osmosis value proposition, it helps to first explore the Cosmos ecosystem and some of the DeFi and DEX fundamentals.

OSMO coin advantages and disadvantages!

Osmosis (OSMO) Token benefits include:

  • IBC-compliant blockchains (like Cosmos, Regen, Akash, and more) can be traded on Osmosis for fees typically under $1.00.
  • Osmosis is one of the first Cosmos-based AMM DEXs.

The disadvantages of the Osmosis (OSMO) Token are:

  • It can sometimes lag behind the competition of three AMMs in the industry such as Balancer, Uniswap and Curve Finance.
  • OSMO coin is a risky investment due to its high volatility as with other cryptocurrencies.

How to buy OSMO coin and on which exchange?

Osmosis coin is listed on some cryptocurrency like MEXC, Osmosis, etc. and it can be purchased these exchanges. However, before investing, it is necessary to make sure that the exchange and crypto project are “RELIABLE”. This is one of the important points for investors.

OSMO coin price!

As of 17 February, 2022, at the time of the writing, 1 OSMO coin price is around $9,10 (the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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