Category: Forex News

Osmosis, dydx & Synthetix Lead DeFi Growth: Santiment Data

By Published On: March 26, 20241.1 min readViews: 1190 Comments on Osmosis, dydx & Synthetix Lead DeFi Growth: Santiment Data

Osmosis, a decentralized exchange operating within the Cosmos ecosystem, has skyrocketed to claim the title of the most vibrant DeFi project in recent times, as revealed by data shared by the crypto intelligence platform Santiment.

According to Santiment’s findings shared on March 25, Osmosis has witnessed a remarkable surge, boasting over 169 commits on GitHub in just the last month. 

Surpassing other notable contenders, the decentralized perpetual exchange dydX secured second place with 145 commits, followed closely by the derivatives liquidity protocol Synthetix with 116.

Image Source: Santiment (Most developed DeFi Project last month)

Santiment clarified that their assessment of “developer activity” involved aggregating all unique GitHub contributions from each project’s repositories and then averaging these figures.

The surge in Osmosis’ development activity is reflective of the broader trend of growing interest in airdrop farming within the Cosmos ecosystem and beyond in the crypto realm. Osmosis has emerged as the go-to decentralized exchange for Cosmos, driving much of the recent excitement.

This surge in interest has also been fueled by projects like Celestia (TIA) and Dymension (DYM), which leverage core elements of the Cosmos ecosystem for their platforms. These projects have distributed substantial airdrops, collectively amounting to hundreds of millions of dollars, to eager farmers participating in the ecosystem.

Also Read: AscendEX Selects XDEFI as Its Web3 Wallet Partner




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