Cosmos-based DEX Demex To Launch GLP Vault With No Withdrawal Fees

Key Points: cGLP, a vault to automatically compound all native ETH income produced by GLP, was introduced by Demex, a cross-chain DEX in the Cosmos ecosystem. A cGLP lending and borrowing pool will also soon be launched by the initiative.

Timeline of Cosmos

Layer 1 blockchain Injective launched a $150 million ecosystem fund to “accelerate developer adoption” for optimized financial applications. What Happened: Injective's new fund is supported by notable Web3 and traditional finance organizations which the company said represented the largest consortium in the Cosmos ecosystem.

In an announcement on January 20, Terra [LUNC] stated that it would launch its lending protocol, known as Mars Protocol, on Cosmos Hub‘s network. This move could have a positive impact on the Cosmos [ATOM] network's presence in the DeFi sector, as it would bring in a new lending protocol to the network.

An airdrop on the mainnet will unlock 64.4 million MARS tokens for Terra Classic holders who held them throughout the two historical snapshots. Osmosis blockchain will launch the first Mars outpost in early 2023.

Cosmos raced higher for a second straight session, after recently snapping a four-day losing streak. Friday's move saw the token move closer to a key resistance level of $12.50. Solana also moved higher earlier in the day, as price bounced from a key support point.

Key Points: Quasar has successfully raised $5,432,100 (countdown intended) for its bridge round, with a $70 million valuation. A $5.4 million fundraising round headed by Shima Capital and including participation from Polychain Capital, Blockchain Capital, HASH Capital, CIB, and others was completed for Quasar, a Cosmos-based DeFi protocol.

The Cosmos [ATOM] network saw a material increase in active developers over the last few months, according to a Token Terminal tweet on 10 January. While this may seem like a positive development, ATOM's price continued to decline.

Cosmos Daily, a popular Twitter handle that posts updates related to the Cosmos ecosystem, revealed an update about the ecosystem. The Cosmos [ATOM] was the most traded Cosmos IBC token in the last seven days.

At present, HedgeUp, Atom, and Ripple have become the most sought-after cryptocurrencies owing to their stability and high out-turns.   Bitcoin has remained the top choice of investors for quite a few years.

The popular pseudonymous host of crypto market analysis show “Coin Bureau” explained in a recent interview why he is so bullish on $ATOM, the native coin of proof-of-stake (PoS) blockchain Cosmos.

While there are a number of different protocols vying for attention, Snowfall Protocol (SNW) is quickly gaining ground as a top choice for those looking to invest in the crypto space.