MediBloc
Published in

MediBloc

MediBloc Successfully Listed on Cosmos Based Osmosis DEX

Hello from the MediBloc Team!

After Panacea’s IBC (Inter-Blockchain) upgrade, MediBloc has been working on a scalable ecosystem. As a first step, MED was listed on the Cosmos-based decentralized exchange, Osmosis.

Osmosis DEX allows you to swap various cosmos-based tokens directly with MED, including Cosmos ATOM. This allows you to swap MED anywhere in the world with improved accessibility. In addition, the users can receive incentives by providing liquidity to Osmosis, a decentralized exchange.

What is DEX (Decentralized Exchange)?

DEX is a Decentralized Exchange and, unlike the centralized exchange, it is an exchange implemented in a P2P manner. DEX allows you to exchange coins and trade without going through the centralized exchange. There are several types of decentralized exchanges. Among them, Osmosis is an automated market maker (AMM) exchange that allows immediate swaps between coins at low fees.

What is Liquidity?

Liquidity must be in place to swap coins smoothly in DEX. Maximizing liquidity supply is the most important thing, especially for exchanges that operate as automated market makers, because it can reduce the price volatility of swap between coins. Therefore, many decentralized exchanges offer incentives for liquidity pool supply. Currently, we have set up two pools: MED-OSMO and MED-ATOM. Until now, the incentives for each pool have not been activated, but they will be activated through steps.

How Can I use Osmosis DEX?

To use Osmosis DEX, you need a cosmos-based Keplr wallet. Keplr can be installed as a Chrome extension program, and you must backup your mnemonic and password. Please refer to the following guide for the Keplr wallet creation and Osmosis linkage method.

Guide Link: https://docs.google.com/presentation/d/1iDDDCzykPZuhQIvARzejYJJHNNGmESQzyoQeVxk65SM/edit?usp=sharing

Osmosis DEX Incentivized Pool Open Timeline

For MED holders who provide liquidity to Osmosis, MediBloc will provide the following incentives.

  1. Incentivized Pool (Reward : OSMO)
    If you deposit LPs in the MED-OSMO and MED-ATOM pools, you can receive OSMO as a reward. Currently, MediBloc has registered a proposal to Osmosis so that it can be registered with the Incentivized Pool. When the Incentivized Pool is opened in Osmosis normally, we will inform you through a notice.
  2. External Incentivize Pool (Reward: OSMO, MED)
    If you deposit LPs in the MED-OSMO and MED-ATOM pools, you can receive additional MED as well as OSMO. This pool is a period-limited pool prepared by MediBloc to secure liquidity. This pool will be available after registration with the Incentivized Pool is normally completed, and after registration and approval of the new proposal. When the External Incentivize Pool opens normally, we will inform you through a notice.

Frequently Asked Questions

Q : If I deposit LP in advance in the Incentivized Pool, which rewards the existing OSMO, should I move it to the External Incentivize Pool later?

A : That’s not true. If you have made a deposit in the Incentivized Pool in advance, the pool will switch to the External Incentivize Pool, which will provide additional MED rewards as soon as the pool is ready.

Q : Is there anything to be careful about when providing LP?

A : A common thing to be aware of when providing LPs to DEX is ‘impermanent loss’. Impermanent loss refers to the difference between supplying LP and having it as a single coin without supplying it when there is a change, such as an increase or decrease in coin prices. In other words, as the price fluctuation between two pairs of LP-bound coins increases, the impermanent loss increases. Please proceed with this concept with a clear understanding.

Q : I want to know how to provide LP liquidity.

A : Liquidity can be provided to the current pool, but the incentive payments for this are not active. After the ongoing Proposal is completed, compensation will be converted to an incentivized pool, and we will share a guide to liquidity supply later, after the transition.

MediBloc will continue to provide various benefits to MED holders, who believe in MediBloc’s vision.

--

--

--

Blockchain based Healthcare Information Ecosystem

Recommended from Medium

Why did the crypto market crashed at 21/01/2022

Photo by Kanchanara on Unsplash

Predictions for the Crypto Market in near future

Ethverse Project Roadmap!

without a central bank or single administrator, that can be sent from user to user on the…

Weekly Industry Report [June 06,2022]

DAPS Blockchain Bootstrap Updated

Liquidity Pool of “PIST” and “STND” Available on Standard Protocol DEX

Update 003: Visiting Berlin

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
MediBloc

MediBloc

Personal Healthcare Information Ecosystem, built on blockchain

More from Medium

Evmos is now LIVE: Staking guide

Lesson 1- Entering the Cosmos

MediBloc A to Z Staking/LP Bonding Guide

Sending ATOM to Keplr to explore Cosmos