Osmosis Review 2023
Osmosis is a popular decentralized exchange created by Sunny Aggarwal and Dev Ojha in 2021.
It runs on 1 different chains including Cosmos.
Osmosis offers features such as liquidity mining, staking, yield farming, spot trading and more.
We rated Osmosis 4.5/5, based on it's features, security, and future prospects.
Osmosis allows you to earn passive income by providing liquidity. You're given LP tokens in return, which are interest bearing. The interest comes from trading fees generated by Osmosis.
Has staking for it's native token; allows you to earn passive income.
Hosts incentivised yield farms. You can earn boosted rewards from staked LP tokens. This is a great way to earn more crypto. Projects put up tokens for you to earn, often for marketing efforts.
This means you can buy and sell the real thing. Actual crypto. Not a futures contract or derivative.
All DEXs charge trading fees. Osmosis is no different.
Trading fees incentivise liquidity providers to provide liquidity to Osmosis. This enables people like you to freely trade between tokens without incurring too much slippage.
Osmosis does not charge withdrawal fees.
DEXs, generally, do not require you to deposit funds onto them. Therefore there is nothing to withdraw. This is one of the many great things about dencentralized exchanges. You get to be the sole custodian of your funds.
How to use Osmosis?
- Get a crypto wallet that supports web3 on one Osmosis's of supported chains.
- Deposit crypto into the wallet, ensuring you have tokens for gas
- Navigate to Osmosis's homepage
- Connect your wallet to the website
- Goto Swap/Trade
- Choose a token that you'd like to swap to
- Finally, swap!
Where can I buy OSMO ?
You can by OSMO direct from Osmosis. It is the native token of Osmosis, and they will therefore offer the most liquidity.
Is Osmosis safe?
Yes, Osmosis is safe to use. However, you should be aware that crypto trading carries inherent risk. dApps are vulnerable to exploits, so make sure to DYOR before investing.
What chains do Osmosis support?
Osmosis supports Cosmos.