Coinbase, one of the leading cryptocurrency exchanges in the US, has announced that it is adding a Cosmos-based DeFi project to its listing roadmap, giving the altcoin Osmosis (OSMO) a price boost during a market lull.
Osmosis is an automated market maker protocol that utilizes the Cosmos software development kit to facilitate cross-chain transactions.
The platform’s website states that it enables the launch of liquidity pools with customizable parameters, including bonding curves and multi-weighted asset pools, with adaptable incentive structures.
The OSMO token, which powers Osmosis’ governance, surged over 10% to $0.8106 following Coinbase’s announcement.
Despite the recent gains, OSMO remains nearly 93% below its all-time high of $11.25 in March 2022. Binance, another major exchange, added support for OSMO last October in its “Innovation Zone,” which is dedicated to trading volatile cryptocurrencies.
Coinbase created the listing roadmap to increase transparency and reduce the possibility of front-running their listing announcements.
