Cryptocurrency stock market Coinbase, in his statement for Osmosis (OSMO) announced that it will list its token.
Osmosis allows users to create and trade private liquidity pools with advanced incentive systems. The OSMO token is used for governance and staking on the Osmosis network.
According to a blog post by Coinbase, users can now send OSMO to their Coinbase account. However, they only need to use the Osmosis network to do so, as sending OSMO over other networks can result in loss of funds.
After the announcement, OSMO saw an increase of about 20 percent, but half of this increase was lost.
Osmosis claims to be the first cross-chain AMM (automatic market maker) to enable cross-chain liquidity pools and swaps. It also offers non-IBC (Blockchain Communications) assets bridged from the Ethereum and Polkadot ecosystems.
*Not investment advice.
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