Osmosis

2023

October 24:  Osmosis v20.1.0 upgrade

• Volume splitting incentives mechanism
• Concentrated Liqudity modifications
• Validator set preferences

October 10:  Mars Protocol v2 integration

• The galaxy’s most powerful credit protocol.

September 5: Osmosis v19.0.0

• Taker Fee: Implemented taker fee logic in the poolmanager when executing swaps. All swap logic messages must go through the poolmanager to incur taker fees. Fees accrue in two separate txfees module accounts: one for staking rewards and another for the community pool.

August 31: Osmosis matches Kava incentives for Rise program

• This approval is a major step towards boosting $USDT liquidity within the Cosmos

August 23: Osmosis v17.0.0 — Aluminium Upgrade.

• This release contains the following notable changes:
  • Async Wasm Hooks
  • Enable Bonded positions to instantly convert to Staked positions (Actions Proposal 570)
  • Supercharged Liquidity Pool Improvements
  • TokenFactory before sending hooks

July 18: Supercharged Liquidity goes live.

July 15: Osmosis v16.0.0 — Magnesium Upgrade.

• Supercharged Liquidity
  • Osmosis’s custom implementation of concentrated liquidity.
  • Custom Trading Ranges with Concentrated Liquidity
  • Can be used to place “ranged limit orders” that earn swap fees while your limit order is pending execution.
• CosmWasm Pool Module
  • Enables the creation and management of liquidity pools backed by CosmWasm smart contracts.
• Multi-Asset Fee Whitelisting
  • Multiple fee assets can be whitelisted using a single governance proposal.

July 5: ALOB (Aggregated Limit Order Book) introduced.

• ALOB introduces four key features:
  • All Osmosis liquidity becomes visible.
  • Any pair can be a direct pair.
  • Customize Liquidity Depth.
  • Place limit orders.

May 18: Mesh Security partnership initiative announced.

• In models like Interchain Security (ICS), security flows in one direction: down from a parent chain in a hub-and-spoke fashion.
• In contrast, with Mesh Security, chains combine their market caps for added (bi-directional or multi-lateral) security.

April 14: Integration with Regen Network.

• NCT is a fungible carbon token minted on Regen Network. It is backed 1:1 by carbon credits originally issued by Verra, a global leader in the voluntary carbon market.

April 7: Integration with Layerswap.

• Built by Bransfer, Layerswap facilitates transfers between centralized exchanges and various rollups and Layer 2s.

March 17: FTM is listed on Osmosis.

March 14: Osmosis v15.0.0 — Sodium Upgrade.

• The flagship feature of the Sodium upgrade is the Protocol Revenue Module, or ProtoRev, developed by the team at Skip Protocol.
  • Originally approved by Osmosis governance in Proposal 341, the ProtoRev module is a novel mechanism that aims to capture on-chain Maximal Extractable Value (MEV) and convert it to revenue for the Osmosis chain.
• Protocol-Level Minimum Gas Price
  • The v15 upgrade implements Osmosis Proposal 354, which sets a minimum gas price of 0.0025 uOSMO at the protocol level.
• Initial IBC Rate Limits
  • The v15 upgrade sets the initial rate limit amounts for certain assets as authorized by Osmosis Proposal 427.
• Validator-Set Preference Module
  • The Validator-Set Preference Module represents a significant improvement in the user experience associated with the staking of OSMO. The module allows for the staking of OSMO to multiple, user-selected validators using a single transaction, making it far easier to diversify your staked OSMO.
• IBC Packet Forward Middleware
  • The v15 upgrade adds an IBC packet forward middleware capability that will pave the way for unlocking the next phase in IBC’s ease of use.
  • Packet forward middleware allows for Osmosis to route IBC message packets from one chain to another.

February 13: Crypto Tax Calculator integration with Osmosis

February 10: AVAX is listed on Osmosis.

February 7: Mars Protocol launches on Osmosis.

January 1: Osmosis 2022 Recap.

• $17B of trading volume.
• Relatively constant number of unique wallets at around 55k-80k.
• Covered other topics such as DEX ecosystem growth, innovation on interchain liquidity, governance, and key proposals in 2022.

2022

December 7: Stable Swaps go live.

• Allows stablecoins to be traded with minimal price impact.
• More computationally efficient.
• Liquidity providers are attracted to stable swap pools even with reduced incentives due to the protection from impermanent loss, market volatility (for stablecoins), and the ability to enter and exit single-sidedly.

December 6: V13 Fluorine Upgrade goes live.

• Stableswap AMM curve: users could create pools specifically for assets that are expected to trade close to 1-1: this increases efficiency and lowers costs.
• Introduces IBC rate limiting: Users can limit the amount of tokens transferred between chains.
• Added multi-hop discounts, which provide a discount on trading fees for users making multiple trades through a single liquidity pool.

December 7: Episode 1 of OGP (Osmosis Grants Program) Office Hours goes live as a Discord event.

October 7: Episode 1 of “The Interchain Laboratory” goes live.

• Discord exclusive event that brings Osmosis and Cosmos ecosystem news to the Osmosis community.
• Features guests from other Cosmos protocols.

October 3: Chain is halted.

• Potential bug was discovered that could lead to consensus issues between validators.
• Chain went live again shortly after.

June 20: OSMO experiences 1st inflation thirdening, following Osmosis 1 year anniversary.

June 15: New support website launched.

• Includes FAQs, instructional videos, and live chat with admin.

June 12: Chain relaunches, after fix was added.

• Missing reward epochs distributed, chain live, and usable hours later.

June 7: Osmosis Chain is halted for emergency maintenance in response to the exploit.

• Bug exploit resulted in some funds from LPs lost.  
• Within 12 minutes, validators were able to respond and organize an emergency chain halt.
• ~$5m was lost.
• Bug was exploited intentionally by a small group of people, and unintentionally by others.
• Funds were linked to CEX accounts, and authorities were notified.
• Funds from the strategic reserve were used to cover losses at a high recovery rate.

June 6: Osmosis upgrades to v9.

• Introduces token factory module: Projects building on Osmosis with CosmWasm can mint their own tokens as Cosmos SDK tokens, which are more interoperable.
• Ability to set different voting periods.  
• Superfluid stakers can now participate in governance, through the validator that they are staking through.  

May 25: New primary frontend is launched.

• Includes features such as pool sorting and searching, hiding 0 balances, and more.
• Caused issues with swaps and bonding liquidity, users were directed to use the Osmosis frontier website instead, temporarily.  

May 15: Proposals 222-226 are implemented, to help derisk against collapse of UST.

May 11: In light of Terra Luna UST depeg, a UST derisking proposal goes live and passes.

• Proposal was subject to “Fast Voting”, meaning it would be considered to pass as soon as over ⅔ of voters vote “Yes”.
• Proposal indicates agreement for Osmosis validators to perform an emergency upgrade.
• OSMO and UST incentives were reallocated to the OSMO – USDC pool.

May 2: Osmosis Info dashboard added.

• Displays personal wallet staking stats, incentive rewards, and other analytics.
• Can export to CSV.

April 22: Proposals 206-210 voting on Osmosis canonical ETH bridge provider launched.

• Users could vote for one of 5 providers or no bridge provider.

April 7: Launched alternative front end, Osmosis Frontier.

• Original website was becoming clogged with traffic.
• Original website is still the primary website for most assets.
• Alternative site features permissionless assets and ETH-bridged assets.
• Alternative site features less support with lower liquidity.
• Alternative site is intended to be temporary until the main site has a feature for creating your own liquidity pools added to it.

February 28: Osmosis chain undergoes v7 Carbon upgrade.

• Introduced Superfluid staking, which allows for OSMO in LP pools to also accrue rewards from securing the network via staking.
• Initially only available in one pool, ATOM – OSMO.
• Superfluid staked OSMO can’t be used to vote.
• Initial integration of CosmWasm, a popular smart contract system that makes it easier for developers to build multichain dApps.

2021

December 17: Single-asset LP introduced.  

• Feature is not single-sided staking; the protocol automatically swaps the asset you deposit into the pair and deposits it as LP.
• Users receive both tokens in LP when withdrawing.

December 1: Comdex CMDX LBP launches.

• OSMO holders and stakers eligible for airdrop.
• Large volume of transactions around CMDX caused IBC issues and network congestion between Cosmos chains.

November: Proposal 57 passes, enabling Osmosis Support DAO (now called the Osmosis Support Lab).

• Community-led organization to help with moderation, support, and safety.
• Public Google Drive folder shows DAO expenses and salaries.
• Weekly or bi-weekly updates, quarterly transparency reports.

June 23: Liquidity incentives enabled.

• Regen Network token introduces the first Liquidity Bootstrapping Pool (LBP).

June 19: Osmosis launches.

• Osmosis triples the number of Cosmos IBC transactions ever made on the first day.  
• 0.3% of transactions stuck between chains, assets sent back to Cosmos Hub.
• Osmosis proposal #2 passes, enabling LP bonding.

June 3: More information about liquidity incentives on Osmosis released.

• Incentives distributed weekly.  
• Introduced OSMO incentives based on pool performance.
• Introduced bonded liquidity gauges; users can choose to lock up LP assets for a certain time period for increased rewards.

May 27: OSMO tokenomics revealed.

• Initial supply 100m, max supply 1bn.
• Thirdening model, instead of halvening: OSMO inflation reduced by 33% annually.
• Snapshot on Feb 18 allocated 50m OSMO of initial supply to Cosmos Hub ATOM holders and stakers.

March 1: Team clarifies details around Osmosis.

• Decided against building Osmosis as a module on the Cosmos Hub ($ATOM).
• Cosmos Hub updates too slowly, the Osmosis team planned for rapid updates.  
• Osmosis will launch as it’s own Cosmos app chain.

February 18: “Vision for Osmosis” article published.

• Provides details on how OSMO token rewards can be used to incentivize pools.
• OSMO also used for voting and fee-setting utility.
• OSMO was released via Quadratic Fairdrop to Cosmos Hub accounts.  

2020

October: Project announced by Co-Founders Sunny Aggarwal, Josh Lee, and Dev Ojha.

• Drew inspiration from Balancer AMM which includes multiple token LPs (liquidity pools), custom weighting, and more customization of LPs.
• Incorporated ideas from Sunny’s paper, DAOfying Uniswap Automated Market Maker Pools.
• Aims to innovate the AMM standard in the Cosmos ecosystem (built on Cosmos SDK) and give users more control.