Tendermint, a software development company that builds software and community for the Cosmos network, today announced that it has acquired liquidity innovator DeFi B-Harvest, creator of Gravity DEX, the first decentralized interchain exchange. created for the Cosmos hub.
Gravity DEX enables decentralized trading between two Cosmos tokens – a $ 90 billion marketplace that includes ATOM, BNB, LUNA, and CRO – or any galaxy of tokens beyond the Cosmos ecosystem.
Built with Inter-Blockchain Communication (IBC), Gravity DEX will enable unauthorized and trustless exchange of digital assets across Cosmos and other blockchain networks while effectively integrating liquidity pools across dozens of protocols with its Equivalent Swap Price Model (ESPM) Automated Market Maker (AMM). The launch of Gravity DEX is a fundamental step in improving blockchain interoperability within the Cosmos ecosystem.
“The Cosmos ecosystem needs a cross-chain DEX,” explains Peng Zhong, CEO of Cosmos. “Tendermint is bringing B-Harvest in-house to launch and scale Gravity DEX so that any token in Cosmos – and from other blockchains – can be traded freely on an exchange without permission and without trust. Interoperability is the future of blockchain, and it’s largely made possible by IBC. “
The Gravity ESPM AMM model combines batch execution, order books and limit orders with an AMM to significantly outperform the CPMM model, as seen on platforms like Uniswap. To find out more, read Tendermint’s Litepaper and ESPM economic simulation.
Also today, the Gravity DEX team submitted a formal governance proposal to allocate 5,000 ATOMs from the Cosmos Hub community pool to be used as cash prizes for the testnet Gravity DEX competition. Voting on the governance proposal begins today, April 7, 2021. We invite you to follow and participate in the Cosmos governance process to get involved.
The next phase of Gravity DEX rollout includes a week-long testnet contest for traders, arbitrageurs and bug bounty hunters to win prizes totaling over $ 200,000 in ATOM and 10 sponsored tokens from the Cosmos ecosystem. :
- EARTH (MOON) https://terra.money
- RAIN (RAIN) https://www.regen.network
- BITSONG (BTSG) https://bitsong.io
- SENTINEL (DVPN) https://sentinel.co
- PERSISTENCE (XPRT) https://persistence.one
- AKASH (AKT) https://akash.network
- ELECTRONIC CURRENCY (NGM) https://e-money.com
- CYBER (GCYB) https://cyber.page/
- IRIS (IRIS) https://www.irisnet.org
- AGORIC (BLD) https://agoric.com
Registration for the testnet Gravity DEX competition opens April 21.