Trust Wallet

Proposal Summary

Trust Wallet is looking to add support for Osmosis, which is the first automated market maker (AMM) built with the Cosmos SDK.

What is Osmosis?

Osmosis is a decentralized exchange specifically built for Cosmos, with plans to expand to more blockchains. The Osmosis DEX liquidity has seen a significant increase since its launch last June of 2021 reaching an all-time high of over $730 million this December.

Osmosis runs as an application-specific chain (“appchain”) which provides the flexibility for defi innovations which are not possible on a shared virtual machine. Osmosis is quite similar to Balancer in allowing users to flexibly provide liquidity to pools with different ratios which is called Superfluid Staking. With Superfluid Staking, LPs can stake their LP tokens on Osmosis, thereby earning pro rata staking rewards in OSMO such that token holders can compound staking and liquidity yields - while the network suffers no reduction in security.

The Osmo Token

OSMO, the governance token of Osmosis was not sold or pre-mined, but instead it was distributed only to network participants such as liquidity providers, developers, stakers, and more. The main use-case of the OSMO token is as follows:

• Reward liquidity providers
• Governance token used for voting in protocol upgrades.
• Network fee in Osmosis.

1. On-chain storage constraints; and
2. Unsustainable consensus mechanisms

Benefit to Trust Wallet

Osmosis ranks first among Cosmos Inter-Blockchain Communication (IBC)-enabled chains by number of IBC transactions. IBC enables independent blockchains to connect, transact, exchange tokens and other data, scale, and thrive in an interconnected network. Integrating Osmosis will be the first step in allowing Trust Wallet users to experience the Cosmos standard for blockchain interoperability.

Additional Resources:

• Osmosis: A Hub AMM
• Osmosis Zone