Major Cosmos DEX Osmosis Unveils Polaris: The Token Portal
Date: 2024-09-12 Author: Gabriel Deangelo Categories: BUSINESS
The team behind the Cosmos-based decentralized exchange (DEX) Osmosis is gearing up to launch a new project called Polaris, which has been developed in secret.
Polaris: The Token Portal will be unveiled at the Solana Breakpoint event on September 20. According to a press release, Polaris is a Token Portal that simplifies cross-chain trading and asset management.
Polaris offers a single interface that allows users to trade all tokens across all blockchains through their existing wallets with a single click.
The Osmosis team says it simplifies the process of tracking and trading assets across multiple networks.
“Polaris is focused on your user experience, reducing friction and making it as easy as possible to acquire assets, whether on Solana, Bitcoin, Cosmos, EVM networks or other platforms,” the press release said.
Polaris makes the process easier for users as it does not require installing additional wallets. It allows everyone to use their own wallets to manage assets across different ecosystems.
In addition, Polaris allows users to trade USDC on Ethereum to Native BTC or Solana memecoins with one click.
Polaris automatically handles all operations, including conversions and bridges, in the background.
Users will also be able to track their entire portfolio — assets, performance, and transactions — across multiple blockchains and wallets through a single interface, eliminating the need to switch between platforms.
In addition, Polaris will make it easy to acquire gas tokens for transactions on any chain, the team added.
One platform for everything
Polaris emphasizes that DeFi should be accessible and user-centric. Their vision is to allow users to freely trade and track assets across all networks: “You deserve the best cross-chain experience. All tokens. All networks. One app,” they emphasize.
The original idea behind Osmosis was that users want one place to trade all assets.
Osmosis has had some success, but attracting liquidity from platforms with already developed DeFi ecosystems has proven difficult. These networks are reluctant to share their liquidity with competitors.
However, “what we’ve learned from Cosmos and Osmosis is that the decentralized nature of DeFi, with liquidity spread across multiple venues, is not a weakness, but rather a strength,” the team said.
Fragmentation is not a problem, it’s a superpower.
Decentralization creates “a very resilient system that can outperform centralized exchanges in the long run.”
Moreover, by leveraging the multi-chain nature of liquidity, Osmosis can create a single DeFi portal that is “more robust and adaptive than any centralized counterpart.”
Importantly, the portals are not tied to a specific liquidity platform. This allows them to focus on providing a scalable interface that works across all networks.
They integrate existing liquidity platforms, bringing new users and trading volumes to them, unlike DEXs that need to build liquidity from scratch and compete with other platforms.
Additionally, token portals use the bridge abstraction to integrate with any existing bridges. According to the team, “the breadth of the coalition of bridge partners is much greater than that of a single bridge product.”
In this way, the portals decouple the user interface from custody, liquidity, and bridges. They provide a flexible, scalable, and user-friendly platform with a blockchain-agnostic and user-centric experience.
"No more juggling"
Polaris is agnostic to different tech stacks and networks. This allows the team to perform integrations as
