Cosmos ATOM has skyrocketed by 6% in the weekly chart. This sudden surge is believed to be a result of an announcement made by Composable Finance, who have just launched the first Polkadot<>Kusama connection via Cosmos IBC.
This groundbreaking achievement has set a new standard for relay chain interoperability in DotSama and has evidently been met with enthusiasm by investors.
This new connection has sparked renewed interest in Cosmos ATOM, with many investors keen to get in on the action. The move towards greater interoperability between different blockchains is an important step forward for the industry and one that is sure to attract further attention in the coming weeks and months.
The data shows that currently, ATOM is trading at $11.68, with a rise of about 0.32% in the last 24 hours. It remains to be seen what the future holds for Cosmos ATOM, but for now, the cryptocurrency appears to be riding high on the back of this exciting announcement.
Cosmos IBC’s First Polkadot<>Kusama Connection, Three New Liquidity Pools Live
Composable Finance launched the first trustless and non-custodial connection between Polkadot and Kusama network, Centauri. This exciting development brings three brand-new liquidity pools that users can explore on the app.pablo.finance website. The pools include KSM/DOT, PICA/DOT, and DOT/USDT.
With the app now live and in open beta, users can currently transfer up to 10,000 tokens for each asset. Composable Finance is eagerly seeking user feedback to ensure that this infrastructure can serve as a robust foundation for a new wave of cross-chain strategies.
In a tweet, the Composable Finance team stated that “This is only the beginning of our mission to bring CosmosIBC everywhere.” They also highlighted their commitment to fostering collaboration, as well as the immense potential of CosmosIBC to revolutionize the way we transact, communicate, and build across DeFi.
The team at Composable Finance is dedicated to creating an interconnected financial industry where DeFi networks can work together to serve users’ needs. They’re already working on more IBC connections to continue expanding the reach of cross-ecosystem interoperability.
The launch of Centauri is a huge step towards Composable Finance’s vision, and they look forward to new solutions and strategies deployed via this KSM<>DOT connection. It is especially true as they introduce an unprecedented opportunity for unified liquidity in DotSama by introducing the first KSM/DOT pool on the Pablo DEX.
Composable Finance has thanked all collaborators, beta testers, and community members for their support. They are committed to making IBC connections a reality everywhere, and their efforts are sure to significantly impact the future of DeFi.
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