The Moonbeam project team, in partnership with DEX Osmosis, has provided the ability to exchange tokens between Polkadot ecosystemsand Cosmos.
The infrastructure for the cross-chain solution was provided byAxel protocol. The project supports a gateway bridge and a smart contract interoperability platform. The first allows you to transfer tokens between networks, and the second allows you to deploy DeFi applications on different blockchains.
Polkadot Native Token (DOT) will be the first ecosystem asset available on Osmosis, according to the announcement. Moonbeam expects to expand the list of coins in the future.
«This integration with Axelar isan important step in establishing cross-chain interoperability, as well as introducing unified liquidity and user services in Web3», the message says.
Osmosis co-founder Sunny Aggarwal in an interviewBlockworks noted that it does not consider Polkadot and Cosmos as competitors. According to him, these are simply “different frameworks for deploying decentralized applications.”
«The meaning of creating these protocolsInteroperability is not just about communicating across tiny ecosystems. Polkadot is a big space with a lot of interesting assets. Our plan is to continue to connect all possible ecosystems,” Aggarwal added.
Recall that the Moonbeam project received a Polkadot parachen slot in November 2021 as a result of the second auction.
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