Komodo, a leader in blockchain interoperability and atomic swap technology, has integrated Cosmos on AtomicDEX to provide a permissionless and secure solution for trading between Cosmos and other blockchain ecosystems.
Komodo CTO Kadan Stadelmann says,
Cosmos has some of the most innovative DeFi developers and projects across the entire crypto space, and shares a belief that the future is multi-chain. While I was trying to trade BTC for ATOM, the only options were to use centralized exchanges, so it was a natural fit and personal need to expand interoperability between more chains and Cosmos. AtomicDEX is compatible with 99% of cryptocurrencies in existence and offers the widest cross-chain, cross-protocol trading support in the industry.
Cosmos is continuing to build a name for itself as one of the most diverse ecosystems in crypto, and as of July 2022 was holding 0.82% of the total DeFi total value locked (TVL) and hosts over 200 purpose-built Cosmos native dApps.
Despite its growth, there are growing pains including a lack of viable bridging solutions for Cosmos users. For example, Gravity Bridge on Cosmos is a popular bridge but is AMM-based and only supports Ethereum and Cosmos-based blockchains.
Komodo’s AtomicDEX — a non-custodial wallet, and cross-chain/protocol DEX and cross-chain/protocol bridge — provides solutions for what Cosmos is currently struggling with: limitations in interoperability with non-Tendermint chains.
Expanding interoperability, Komodo’s AtomicDEX currently supports hundreds of blockchains, including both UTXO and EVM-based networks such as Bitcoin, Ethereum, Polygon, Avalanche, Optimism, and more.
With this Cosmos integration, DeFi users can now seamlessly trade to and from Cosmos with multiple blockchains using one wallet.
AtomicDEX uses peer-to-peer powered cross-chain atomic swaps which removes the possibilities of security threats from centralized liquidity pools, AMMs, and complex smart contracts. Advancing scalability, AtomicDEX is currently capable of 10,000 swaps/minute and able to handle more swaps if necessary.
Users can hold native ATOM and wrapped versions and trade ATOM natively cross-chain with assets based on dozens of protocols via the AtomicDEX peer-to-peer network.
Stadelmann further commented on why interchain innovation is key to Cosmos’ growth, saying
We see Cosmos becoming a top three crypto project, so we will continue to observe key metrics such as the number of dApps, active users/addresses, and active developers. We have seen many projects come up short in launching a blockchain that is equally useful and secure. Many developers launch tokens on existing blockchains instead of creating new blockchains. The ability to launch sovereign and interconnected blockchains with Cosmos is essential to the growth of the whole crypto ecosystem.
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The Cosmos integration will be available on the public alpha release of AtomicDEX Web, which is expected to go live in Q4 2022.
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