May 28, 2023

Moonbeam and Osmosis create a cross-chain bridge between Polkadot and Cosmos

Moonbeam and Osmosis create a cross-chain bridge between Polkadot and Cosmos

The Moonbeam project team, in partnership with DEX Osmosis, enabled the exchange of tokens between Polkadot ecosystems and 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 is an importantstep in establishing cross-chain interoperability, as well as the implementation of unified liquidity and user service 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 just “different frameworks for deploying decentralized applications.”

“The purpose of creating these protocolsinteroperability is not only about interacting in tiny ecosystems. Polkadot is a big space with many interesting assets. Our plan is to keep connecting every possible ecosystem,” 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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