Osmosis recently rolled out its Bitcoin bridge. Users can now deposit their BTC on the Bitcoin network and receive a token called alloyed BTC (allBTC) on Osmosis.
If you’re a bit clueless, Osmosis is a Cosmos ecosystem DEX. The governing DAO agreed to adopt Bitcoin bridge Nomic a couple of months back, and the integration just went live earlier this month.
Tokens issued on Ethereum or Solana have a bunch of DEX options open to them. However, not all assets — with BTC being the most obvious — have their own native DEXes, and Osmosis is trying to bridge that gap.
You can now transfer native Bitcoin directly to Osmosis in a decentralized, non-custodial way. No middlemen needed.
By leveraging Nomic's decentralized custody engine and offering zero-fee transactions, Osmosis is becoming a decentralized Bitcoin exchange, according to the team.
Meanwhile, Sunny Aggarwal, Osmosis co-founder and a Bitcoin maxi himself says,
"We're one of the primary DEXs for app chains and most of them were probably built using the Cosmos stack, so we have about a 95% share of DEXes in the Cosmos ecosystem."
He went on further emphasize,
"BTC is going to grow to be more and more a core piece of our strategy."
The team is filled with Bitcoin maxis and other proposals along the lines of purchasing $250k worth of BTC to bolster protocol liquidity have also been passed over the past few days.
Alongside, the ecosystem stats seem to be healthy too. Osmosis passed $37 billion in total spot trading volume last month — truly vibing and thriving.
