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Cosmos Network DEX Osmosis raised $21 million in token sales, led by Paradigm Ventures

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Osmosis is Paradigm's first AMM investment outside the Ethereum ecosystem.

On Oct. 28, Cosmic-net-based DEX Osmosis announced a $21 million private token deal led by Paradigm Ventures, Robot Ventures, Iron Ore, Ethereal and Figment were also in on the deal. Terraform Labs co-founder Do Kwon also joined the round. Osmosis is the largest DEX on the Cosmos blockchain. Osmosis was launched in June this year and currently has a working capital pool TVL of $544 million.

Lead investor Charlie Noyes, Paradigm's investment partner, calls the project "the natural center of gravity for liquidity in the emerging DeFi ecosystem of Cosmos." Referring to the investment, Noyes added: "Osmosis is our first AMM investment outside of the Ethereum ecosystem." The Osmosis team claims its platform handles 42% of IBC transactions in the Cosmos ecosystem.

According to the Osmosis team, token sales will be followed by "Superfluid Staking," a form of liquidity Staking on which users can add money to a liquidity pool and pledge their LP token to a network validator. This allows users to earn a portion of the fee on all swaps, as well as collateral rewards.