UX Chain and Osmosis Could Merge within Cosmos

Osmosis, the foremost decentralized exchange on Cosmos, and lending platform UX Chain (previously Umee) have jointly suggested a merger between the two entities, marking a significant consolidation within the Cosmos ecosystem.

If approved, this merger would involve incorporating UX Chain’s lending logic and algorithms into Osmosis’ DEX, resulting in a comprehensive DeFi center.

This proposal, developed by contributors from both Osmosis and UX Chain, outlines a strategic plan for the merger. The process will be undertaken in stages, starting with the integration of UX Chain’s codebase onto the Osmosis Chain.

The aim of this integration is to combine the strengths of both platforms. The result of this initial phase is expected to be the merging of total value locked from both networks.

At this stage, the Osmosis token and UX token will continue to be traded separately. Following this, there may be a step towards combining the two tokens, which could involve a potential token swap or migration.

As per the proposal, this step would entail the creation of a single token representing both networks.