Umee x Composable Finance: Building Interoperability through Bridging Cosmos and Dotsama
Another partnership, another step towards realized interoperability! Umee is proud to announce a collaboration with Composable Finance — a cross-chain and cross-layer interoperability platform in the Picasso ecosystem. Through the Centari bridge, Umeewill be able to link to Composable’s Kusama parachain, Picasso, to further continue our mission of expanding cross chain ecosystems in DeFi.
While interacting with Composable and employing the Centauri bridge, Umee is able to further increase its asset supply and liquidity across blockchains. The value of being able to establish novel use-cases through the Cosmos and Dotsama ecosystems interactions and cross-ecosystem transactions is key to our ability to scale at the pace we’ve set out to.
One use-case example would be that DeFi users will be able to utilize collateral held on Umee to borrow on Angular — Picasso’s lending protocol. This then allows users to take advantage of new yield opportunities that would have not been available previously. By taking advantage of the cross chain infrastructures set out by Umee and Composable, lenders and borrowers will be continuously able to succeed in their cross chain voyage.
As we continue our scaling journey, Umee is dedicated to ensuring that cross chain interoperability is the present and future of DeFi. By bringing together these two chains, we are maintaining the erasure of artificial limitations and enabling future expansions by laying the foundation for developers and engineers to advance cross chain dApps.
We hope you are as excited as we are to see a cross chain future across the Cosmos and Dotsama ecosystem enabled by partnerships like this with Composible Finance. As our list of compatible ecosystems grows, Umee’s goal of interoperable DeFi is that much closer to becoming a reality. To Umee and beyond — glad you’re a part of the wave!
About Centauri
In the past month, Composable Finance announced the release of Centauri — the first-ever bridge between the Cosmos and Kusama ecosystems. The Centauri bridge links the Inter-Blockchain Communication Protocol (IBC) with our Kusama parachain — Picasso. This connection grants users on the Cosmos Network an entry point to the Dotsama ecosystem and vice versa.
As the first-ever bridge between these two ecosystems, Centauri is a significant infrastructure milestone for shaping the interoperable future of DeFi, and we are indeed proud to be championing that. This bridge further demonstrates our drive and commitment to delivering innovative solutions that propel DeFi towards absolute blockchain agnosticism, in line with our ethos of interoperability as a continuum for the entire DeFi industry.