According to DefiLlama data, Osmosis, a decentralized exchange (DEX) built on the Cosmos network, achieved a remarkable monthly trading volume of $1.121 billion in December 2023.

Based on CryptoSlate data, OSMO, the native token of the DEX, has experienced an impressive surge in value due to increased activity. It is currently being traded at $1.51, reflecting a significant growth of 121.97% over the past 30 days.

This significant milestone marks the first time the trading volume on the DEX has surpassed $1 billion since May 2022 when the Cosmos ecosystem experienced a liquidity shock due to the collapse of Terra Luna, resulting in the loss of billions of dollars in liquidity.

Revival

Osmosis serves as both a decentralized exchange (DEX) and an automated market maker (AMM) within the Cosmos network. What sets Osmosis apart is its unique feature that enables users to create and manage their own liquidity pools, offering customizable parameters to meet their specific needs.

It operates on a non-custodial infrastructure and is part of the larger Cosmos SDK universe, supporting over 47 chains within this ecosystem.

Osmosis is widely recognized for its exceptional interoperability, made possible by the implementation of the Inter-Blockchain Communication (IBC) protocol. With its advanced infrastructure, Osmosis offers a robust platform for developing native interchain applications and smart contracts, empowering users to explore the full potential of cross-chain functionality.

With the recent revival of bullish sentiment in the crypto markets, numerous blockchain ecosystems are witnessing a surge in interest, fueled by the launch of new projects. Cosmos stands out as one of the top choices for investors due to its exceptional technology and unique features, solidifying its position as a leading blockchain in the industry.

Osmosis has similarly seen a revival in activity amid increased interest in Cosmos and its surrounding ecosystem due to new token launches like Celestia (TIA) and numerous airdrops on the horizon.

Airdrop Craze

Airdrop farming has emerged as a major catalyst for activity within the Cosmos ecosystem in recent weeks. This innovative approach has successfully attracted users and played a crucial role in driving the network's growth. The allure of participating in airdrops has contributed to the increasing engagement and excitement surrounding the Cosmos ecosystem.

At its core, airdrop farming involves users staking specific tokens to earn rewards, with the potential to receive additional tokens in the future. The practice has been increasingly common, and numerous protocols have launched their tokens through airdrops both in the past and in recent months.

This activity is facilitated by the interoperability of the Cosmos platform, which allows for diverse participation and reward mechanisms. Wallets that stake the DEX's native token OSMO are automatically eligible for many of the Cosmos airdrops.

Airdrops have become one of the main ways Web 3 protocols attract new users and activity by promising future rewards.