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Emma
@emmaz
🎤Crypto Club: Interview with Osmosis Founder @AnnikaLewis chatted with @SunnyAggarwal about his decentralized exchange, Osmosis. Here's some highlights: Q: What is Osmosis, and what does the company strive to do? A: Osmosis is a decentralized exchange that is built on its own blockchain. People might be familiar with decentralized exchanges already. It's like uniswap, and others. But most of these decentralized exchanges are built on an existing blockchain like Ethereum or Solana something. And this puts a lot of limitations on the capabilities of what they're able to do. And so Osmosis is a decentralized exchange. But we've built a custom blockchain to host the decentralized exchange. So there's this level of vertical integration that lets us accomplish a lot more than what other decentralized exchanges can. Q: What are some advantages of a Decentralized Exchange (DEX)? A: The purpose of building a decentralized exchange is, first and foremost, to solve the custody problem. When you use a decentralized exchange, you keep the crypto assets in your wallet, in your own self-custody. And you're actually trading the assets themselves on the blockchain rather than these IOUs and that is possible because the exchange itself is built as a set of smart contracts on the blockchain. Imagine instead of me sending money to Coinbase, and you sending some other asset to Coinbase, and Coinbase does the swap for us, we just both send coins to the smart contract that executes the swap on our behalf. There's no middleman here that takes custody of the funds. We can also work on getting other benefits such as making sure there's fair execution etc via the smart contracts. Q: Have you noticed a change in trading volumes on Osmosis since FTX crumbled? A: There has been an increase in trading volumes. And also this is in the last week. But to be honest, that's mostly because trading volume on every decentralized exchange and centralized exchange increased when there's more market volatility. And so just with all the market volatility this past two or three weeks, I would say, that's been the primary increase in trading volumes right now. Want to hear more? Listen to the full interview linked in the comments! -- **This content is for informational purposes and is not investment advice. Investing involves risk of loss. #crypto #cryptoclub #publiclive
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