Introducing Kinesis Labs, The First Stablecoin Exchange on Cosmos
The Genesis of Kinesis
Less than $10B of the $180B in circulating stablecoins is in the Cosmos ecosystem, and almost all that volume is in UST.
With the coming of Evmos, an EVM compatible chain that bridges the $17B Cosmos ecosystem with the $250B EVM ecosystem, a flood of stablecoins is upon us: USDC, USDT, DAI and FRAX will all be coming. Not to mention an extensive number of bridges have been in contact with Evmos and Kinesis in order to bridge assets over, potentially creating fragmented liquidity pools.
With fragmented liquidity, low slippage becomes a necessity rather than a luxury. An exchange that can handle all these new stablecoins with the lowest slippage is essential for the growth of Evmos and the Cosmos ecosystem.
Kinesis will be the first stableswap on Cosmos, built on Evmos. We allow users to swap stablecoins with other stablecoins at the lowest fees and the lowest slippage.
Kinesis Labs plans to actively work with and participate in governance for popular stablecoin protocols like Abracadabra, Alchemix, Fei, and Frax to bring all of EVM’s stablecoins onto Cosmos. We’ll work closely with stablecoin issuers to ensure there will be deep liquidity for stablecoins.
We are committed to bringing the first $100 billion of stablecoins onto Cosmos.
Why are we deploying on Evmos?
The Kinesis Labs team strongly believes in the vision of Evmos as a scalable and interoperable EVM, built on an interoperable proof of stake chain with fast-finality. As an EVM compatible chain built on Cosmos SDK, Evmos aims to connect the Cosmos ecosystem with the $200B EVM ecosystem.
Popular EVM-based decentralized applications, such as Uniswap, Yearn, Aave, and MakerDAO can now be accessed by users on IBC-enabled chains. Evmos allows builders to create new or similar decentralized applications with the high potential of EVM DApps, all while having the perks of being in the IBC ecosystem.
With the influx of decentralized EVM-based applications, popular stablecoins will also make their way over to Evmos. Stablecoins have been a necessity in the cryptocurrency world, bringing stability and a baseline for supporting innovation and native projects within DeFi. For instance, the total market cap of stablecoins has hit $182B, with a daily trading volume of $99B.
The Cosmos Network expects a massive flood of different stablecoins from different chains, and also stablecoins that are natively deployed. A native stableswap that can handle all these new stablecoins is essential to the growth of Cosmos.
Kinesis aims to be that stableswap, allowing anyone to trade at minimal slippage, negligible gas fees, and low risk. Through Evmos, Kinesis will become the prominent exchange for all stablecoins.
Wen Launch?
Kinesis Labs’s will launch on Evmos’ Mainnet. We will be there to handle the flood stablecoins onto Evmos and Cosmos. Our vision is much bigger than just a stableswap. Kinesis not only plans to be the premier destination for stablecoin trading on Cosmos, but also be an active steward in bringing stablecoins into Cosmos.
Expect to see various partnerships announcements shortly — and be on the lookout for our token :).
Who’s behind Kinesis Labs?
We’re a team of DeFi natives who have building since 2019. We have worked at top DeFi protocols like Risk Harbor and Yeti Finance, crypto trading firms like Hudson River Trading, and traditional tech companies like NVIDIA and Microsoft.
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