Omnity Network Joins Forces with Osmosis, Bridging Internet Computer and Cosmos

Omnichain hub built on the Internet Computer (ICP), Omnity Network announced a strategic partnership with Osmosis , recognized as a premier interchain decentralized exchange (DEX) and a core decentralized finance (DeFi) platform for Cosmos and beyond. 

This partnership will facilitate the effective integration of Chain-Key Bitcoin (ckBTC), a non-custodial Bitcoin token existing on the ICP blockchain, into the Cosmos network via Osmosis. This initiative aims to create a comprehensive solution for incorporating non-custodial BTC within the Cosmos ecosystem, bolstering security and connectivity for ckBTC holders.

As it stands, Osmosis has successfully recorded a trading volume exceeding $35 billion, with over 100 unique blockchains connected to its application chain through Inter-Blockchain Communication (IBC) along with a wide array of bridge providers. By incorporating ckBTC into one of the leading DEX platforms, this collaboration is poised to expand the reach and functionalities of ckBTC. Furthermore, it will augment the existing $16 million Bitcoin liquidity on Osmosis, forging a new connection between the ICP and various ecosystems, thus enhancing liquidity and cross-chain interoperability. Cosmos Omnity Network And Osmosis Team Up To Ensure Secure Cross-Chain Transactions with Minimal Fees and Quick Settlements

The cross-chain functionalities of Omnity Network stem from its innovative Chain Fusion technology, which enables ICP smart contracts to authenticate and dispatch transactions across multiple blockchains. This feature positions Omnity Network as a central hub for Bitcoin assets, enabling seamless bridging of ckBTC and other Bitcoin assets across diverse networks. With Osmosis' integration, ckBTC can now traverse through various blockchains, aiding in reduced transaction costs, shortened times, and enhanced overall security.

Through this collaboration, Omnity Network has developed a secure on-chain pathway that connects Osmosis with the ckBTC subnet of the ICP through its omnichain hub. This integration allows for safe cross-chain transactions with low fees and rapid finality. The routing process authenticates cross-chain communications from the Bitcoin network, including Layer 2 solutions and beyond, allowing for trustless asset transfers like ckBTC without relying on external processes. By leveraging the Chain Fusion technology from ICP and adopting the IBC protocol, Omnity Network boosts interoperability between Bitcoin assets and the Osmosis network.

Omnity Network operates as a trustless omnichain hub capable of linking Layer 1, Layer 2, and Layer 3 blockchains. By incorporating Chain Fusion tech from Osmosis and its own adapted IBC technology, it delivers a secure, trustless, and highly scalable multi-chain hub. This framework is designed entirely on-chain, ensuring smooth interactions across various blockchain ecosystems.

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