- Wormhole Gateway seeks to increase liquidity and fungibility between assets bridged within the Cosmos ecosystem.
- Built using the Cosmos SDK, the Gateway transfer protocol will connect 20+ blockchains to Cosmos.
The Wormhole interoperability protocol has announced the launch of Wormhole Gateway, an application-specific blockchain powered by the Cosmos SDK. This innovative platform aims to broaden access and liquidity within the Cosmos ecosystem while enhancing security and sovereignty for Wormhole.
Bridging the Gap Between Cosmos and Other Ecosystems
Gateway’s primary objective is to seamlessly bridge assets to any Cosmos zone, eliminating additional bridging fees. The platform allows Cosmos developers to onboard users and liquidity from other ecosystems like Ethereum and Solana effortlessly.
Gateway operates on the Cosmos SDK, offering numerous advantages. It enhances transparency by acting as a sovereign verification layer for Wormhole messages, providing a verifiably transparent public ledger.
Using IBC light clients (mechanisms that track consensus states of Cosmos zones) ensures the protection of assets during bridging processes. Gateway’s implementation of the ICS-20 standard for IBC-native token bridging ensures greater fungibility of assets, aligning with Cosmos protocols to deliver a seamless user experience.
Osmosis and Gateway: An Exciting Partnership for the Cosmos Ecosystem
Osmosis, the leading Cosmos DEX, will be among the first to integrate with Wormhole Gateway. This partnership is expected to bring new liquidity and users to the Cosmos ecosystem, cementing Osmosis’ position as the liquidity hub and supercharging all IBC-enabled chains.
Sunny Aggarwal, Co-Founder of Osmosis Labs, expressed enthusiasm about the collaboration, highlighting the benefits of Gateway’s secure cross-chain liquidity and message routing capabilities:
“We’re thrilled to welcome Wormhole to the Cosmos, and to celebrate the launch of Gateway together with our fellow Cosmonauts at Osmocon in Paris. Wormhole’s Gateway creates a secure and much-needed bridge between Cosmos and 20+ other crypto networks, unlocking seamless cross-chain liquidity and message routing.”
Although exact details about using Gateway are yet to be released, it is anticipated that Gateway will connect with several major Cosmos chains at launch. The plan includes expanding its reach to connect with as much of the interchain as possible, promoting seamless value flow across different blockchains, and enhancing the overall Cosmos developer experience.