The Cosmos Osmosis DAO ecosystem is set to introduce a fee-free Bitcoin Bridge, joining forces with Nomic to enable users to transfer assets across various DeFi applications. This move comes after the Osmosis Decentralized Autonomous Organization (DAO) community voted in favor of implementing the bridge through a revenue-sharing agreement with Nomic. By eliminating bridge fees, this partnership aims to streamline the movement of Bitcoin within the DeFi space, allowing users to seamlessly participate in a wider range of applications across different blockchain platforms. The integration of Nomic’s bridge aligns with the industry’s growing recognition of the potential liquidity tied up in Bitcoin, and Osmosis aims to tap into this valuable resource to fuel further growth in DeFi. This development also coincides with Nomic’s expansion efforts, including the integration of Babylon’s staking protocol and the introduction of a Bitcoin liquid staking token, stBTC. With the Osmosis DAO vote and Nomic’s bridge implementation, the future looks promising for smooth Bitcoin movement and integration into the DeFi space. Osmosis’ position as one of the most dominant and successful DEX in the Cosmos ecosystem is further solidified through its proposed merger with the UX Chain lending protocol. Currently, Osmosis ranks as the sixth-largest chain in terms of total value locked (TVL) and has achieved over $123 million in cumulative trade volume, making it one of the largest decentralized exchanges in the Cosmos ecosystem. Despite recent market volatility, Bitcoin is experiencing a rebound, with a 1.2% increase in the past day. Analysts anticipate a significant price increase for BTC, as evidenced by the flow of Bitcoin options on Deribit heavily skewed toward call options at strike prices above the current market rate.
