Blockchain data analysis firm Santiment has reported that Osmosis, a decentralized finance (DeFi) platform on the Cosmos network, has outpaced other projects in development activity over the past 30 days. With 169 updates logged on GitHub, Osmosis tops the list, followed by cryptocurrency exchange dydX with 145 updates and futures liquidity provider Synthetix with 116. Santiment’s report highlights the enthusiasm and commitment of developers within the DeFi space.
Rising Popularity of Cosmos-Based Projects
The Cosmos ecosystem has garnered significant attention with the substantial growth in transaction volumes and value locked in its DeFi applications, especially Osmosis. A notable driver of this momentum is the trend in airdrop farming, which has encouraged active participation and investment in these platforms.
Projects leveraging the Cosmos infrastructure, such as Celestia (TIA) and Dymension (DYM), are contributing to the ecosystem’s growth by distributing lucrative airdrops, attracting a large number of users seeking to capitalize on these opportunities.
Significant Upgrades and Milestones
dydX, second on the development activity list, has recently undertaken a significant upgrade to version 4, transitioning to an independent blockchain within the Cosmos ecosystem. Since its January launch, the platform has achieved over $60 billion in transaction volume. Meanwhile, Synthetix has been witnessing a steady increase in its total value locked (TVL), reaching nearly $994 million, as it expands across the Ethereum and Optimism networks. Synthetix also introduced Infinex, a new futures trading interface, with plans to fully release it in the near future.
