Akash Network Native Token AKT Launching On Osmosis
Akash Network, the world’s first decentralized and open-source cloud, accelerates deployment, scale, efficiency and price performance for high-growth industries like blockchain and machine learning/AI. Akash Network envisions a world where cloud computing is permission-less, sovereign, and open, where builders of the internet have greater freedom to expand the human experience.
$AKT is the utility token powering the world’s first open-source cloud. It is used as the primary means to govern, secure the blockchain, incentivize participants, and provide a default mechanism to store and exchange value.
Akash Network was thrilled to announced that it has partners with Osmosis an automated market maker (AMM) protocol built for liquidity providers.
“We’re excited to have Akash Network be one of the first launch partners of Osmosis. Akash Network enables a new generation of resilient, decentralized Internet infrastructure to be built, and Osmosis provides a gateway for anyone to take part in this decentralized economy. For Osmosis to be a truly decentralized exchange, we need to be built on a decentralized infrastructure. Osmosis will be a proud user of Akash infrastructure to host our applications and API-serving nodes.”—Sunny Aggarwal, Co-founder of Osmosis
Akash Network was very excited for the first listing of AKT token on the decentralized exchange platform of Osmosis. The target launching will be on June 19th 2021. Akash thrilled to be hosting Osmosis applications and API-serving nodes on Akash’s decentralized cloud. With Osmosis, any developer or $AKT buyer can now access $AKT in a permission-less and frictionless way, from anywhere in the world. All that’s needed are a few things, Keplr wallet, a Cosmos ecosystem token starting with $ATOM, a computer, and Internet access.
For holders of AKT the ATOM<>AKT pool will also feature lucrative incentives for liquidity providers on Osmosis. Early liquidity providers receive a larger proportion of rewards in both $OSMO and $AKT.
For the Cosmos super fan and humble farmers, this is the start of IBC’s potential being realized. For the first time, Osmosis users will be able to directly swap ATOMs for AKT, and bring Cosmos’s fully interoperable ecosystem to life.
Akash Network’s main goal is to increase access to lower cost, scalable, and developer friendly cloud compute in an open-source and permission-less environment. Listing $AKT on a DEX aligns fundamentally with our ethos and vision for a decentralized future.
ABOUT Osmosis
Osmosis is an automated market maker (AMM) protocol built for liquidity providers. With Osmosis, users are able to swap cross-chain assets within the Cosmos ecosystem and provide liquidity for IBC-enabled Cosmos assets like AKT and ATOM for the first time while earning OSMO and AKT rewards.
ABOUT Akash Network
Akash Network, the world’s first decentralized and open-source cloud, accelerates deployment, scale, efficiency and price performance for high-growth industries like blockchain and machine learning/AI. Akash Network envisions a world where cloud computing is permission-less, sovereign, and open, where builders of the internet have greater freedom to expand the human experience.
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