Swing Voyages Into the Cosmos Ecosystem With New Integrations
Swing Voyages Into the Cosmos Ecosystem With New Integrations
Swing is undertaking a flurry of new integrations centered around Cosmos.
The internet of blockchains that constitutes Cosmos is swarming with activity of all kinds. We should know: we’ve been exploring there for some time, having engaged with several of its key networks while investigating ways to deepen cross-chain liquidity. But like the galaxy itself, Cosmos refuses to be constrained by space and time: it’s constantly evolving while drawing new ecosystems into its orbit.
We’re thus pleased to announce that Swing is undertaking a flurry of new integrations centered around Cosmos. The addition of the Cosmos Hub, Osmosis, and Juno into the Swing family of supported Non-EVM Blockchains is a boost for Cosmos builders, dApp developers, and end users who can now access deeper liquidity on demand.
What’s the Deal With Cosmos?
We’ll summarize what we’re doing within the Cosmo-verse shortly, but let’s start with a tl;dr on Cosmos, for those who’ve yet to take the plunge. Cosmos comprises a network of blockchains that operate in parallel. Each network can have its consensus algorithm, usually a variant of Tendermint, allowing different chains to pursue decisions that support their specific scaling and decentralization goals.
One of the things that makes Cosmos different is its chains don’t operate in isolation: they can exchange messaging and thus value using the Inter-Blockchain Communication protocol (IBC). Described as the TCP/IP for blockchains, IBC allows chains to exchange value and data while maintaining full decentralization.
As Cosmos puts it, “IBC allows heterogeneous blockchains to transfer tokens and data to each other, meaning that blockchains with different applications and validator sets are interoperable. For example, it allows public and private blockchains to transfer tokens to each other.”
Cosmos provides an unrivaled level of blockchain interoperability. This makes it ideal for creating highly modular applications that are inter-compatible with those built on other chains running in parallel. This is achieved with the aid of the Cosmos SDK, which makes it easy for highly secure blockchain frameworks to be constructed.
That, in a nutshell, is what Cosmos brings to the table. Now let’s cover how Swing fits in.
Swing Enters Cosmos
Our strategy for gaining a foothold in the Cosmos ecosystem has been underway for some time. Back in June, we hosted an AMA with Osmosis to detail these plans, where we discussed the goal of enabling cross-chain swaps between EVM and Cosmos on Osmosis to strengthen the available liquidity options.
Essentially, Swing will provide greater flexibility in terms of making cross-chain swaps on Osmosis, but that’s just for starters. Ultimately, we aim to support additional use cases such as cross-chain delegation and deposits. Whenever a user attempts to execute a trade on Cosmos using a Swing-supported DEX, the smart contract will determine the best path and will then execute the trade, whether the liquidity lies on Osmosis or another Cosmos chain connected by IBC.
The proposal for Swing’s integration with Osmosis went live for on-chain voting on September 19, 2023. It details how this will work once operational, complete with a link to the full technical documentation that breaks down the process in granular detail.
In essence, Swing will bring greater liquidity into Osmosis by connecting EVM and non-EVM chains. This will allow Osmosis users to access the full spectrum of IBC liquidity with the Swing cross-chain contract undertaking all of the heavy lifting. The result, from the user’s perspective, will be a seamless swap that enables them to obtain the token they want at the price they expect.
To Cosmos and Beyond
There’s more to Cosmos than Osmosis of course, which is why Swing’s also expanding to other chains that feature prominently within the IBC world. Specifically, we’ll be bringing the same capabilities to Juno and the Cosmos Hub.
Juno’s interoperable smart contracts allow developers to securely launch smart contracts using their preferred programming language. Community-focused, with staking and governance at its core, Juno is an excellent example of how blockchain ecosystems can be developed from the bottom up rather than relying on a hierarchical decision-making system.
Tashi’s algorithmic, non-custodial borrow and lend protocol built on Evmos, an interoperable EVM within Cosmos is integrating Swing to boost liquidity for their flagship product Tashi.Finance. Doing so they will onboard liquidity directly from 24+ EVM & Non-EVM chains, 10+ Bridges, and DEXes for their users enabling them to perform seamless swaps & bridging.
At Swing, we’re excited about the direction that Cosmos is headed in, driven by projects such as Osmosis, Evmos, and Juno. Each of these chains is solving specific challenges while strengthening the appeal of all networks that make use of IBC. We believe that by adding Swing into the mix, we can accelerate the development of dApps that bring the tools for greater financial control to Cosmos users.
Cosmos has already made it possible for different blockchains to talk the same language, exchanging data without sacrificing decentralization. Swing intends to build on that, freeing dApp developers and their users to access liquidity wherever it resides across the Cosmos ecosystem.
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