According to Foresight News, Cosmos ecosystem's decentralized exchange (DEX) Osmosis and lending protocol UX Chain (formerly Umee) are proposing a merger. The proposal aims to combine UX Chain's lending logic with Osmosis' decentralized exchange to create a comprehensive DeFi hub. If approved, the process will begin by integrating UX Chain's codebase into the Osmosis Chain, combining their functionalities and locked total value.
Separate governance votes from each network community will guide the merger process, including the possibility of a unified token. The merger is expected to enhance the overall capabilities of both platforms and provide users with a more seamless experience in the growing DeFi space.