A proposed merger between Osmosis (OSMO), the largest decentralized exchange in Cosmos, and lending protocol UX Chain (previously Umee) has been proposed.
Osmosis Coin and UX Unite
If approved, this merger could see UX Chain's lending logic and algorithms integrated with Osmosis' DEX, creating a comprehensive DeFi hub.
The proposal, a joint effort by contributors from both Osmosis and UX Chain, detailed a strategic plan for the proposed merger.
The process will proceed step by step, starting with integrating UX Chain's code base into Osmosis Chain. This integration aims to bring together the capabilities of both platforms.
The expected results of this first step include collation of the common total value locked in the two networks. In this first step, both chains' respective tokens (Osmosis token and UX token) will continue to be traded separately.
There will then be the possibility of a step related to merging the two tokens, including a potential token swap or migration.
According to the proposal, this step will lead to the creation of a unified token representing both networks. Token swap configurations will be decided based on community governance.
*This is not investment advice.