The Moonbeam project team partnered with DEX Osmosis to enable the exchange of tokens between the Polkadot and Cosmos ecosystems.
The Axelar protocol provided the infrastructure for the cross-chain solution. The project supports a cross-chain bridge and an intelligent contract interoperability platform. The first allows you to transfer tokens between networks, and the second allows you to deploy DeFi applications on different blockchains.
According to the announcement, Polkadot Native Token (DOT) will be the first ecosystem asset available on Osmosis. Moonbeam expects to expand the list of coins in the future.
“This integration with Axelar is an important step in establishing cross-chain interoperability as well as bringing unified liquidity and user experience to Web3,” the post reads.
Osmosis co-founder Sunny Aggarwal said in an interview with Blockworks that he does not see Polkadot and Cosmos as competitors. He says these are just “different frameworks for deploying decentralized applications.”
“The point of creating these interoperability protocols is not only to interact in tiny ecosystems. Polkadot is a big space with many interesting assets. Our plan is to keep connecting every possible ecosystem,” Aggarwal added.