Osmosis, a leading decentralized finance (DeFi) protocol, announced the release of version 14.0.0, also known as the Neon Upgrade, bringing a new boosts in security, efficiency, and more.
Rejoice, Cosmonauts! The highly anticipated upgrade on the Osmosis app will commence on January 23rd, 2023 at 16:00 UTC. The upgrade will be implemented at block height 7,937,500.
The Neon Upgrade brings several new features to the Osmosis protocol, with the main focus on increasing security and efficiency for the protocols built on top of it. The upgrade aims to provide a seamless experience for builders, making it easier to build and launch new projects on the Osmosis protocol.
What are the New Features?
The first major feature of the upgrade is the introduction of a Geometric TWAP (Time-weighted average price) mechanism. This mechanism will allow Osmosis liquidity pools to be more resistant to manipulation, making it a key feature for protocols such as Mars Protocol that are built on top of Osmosis. The Geometric TWAP will also increase the efficiency of pricing ticks on concentrated liquidity.
Another key feature of the Neon Upgrade is the Downtime Detection Module. This module will detect if the protocol is recovering from downtime and provide information to developers. This feature is critical for ensuring a seamless experience for builders on Osmosis. With this module, developers can quickly identify and resolve any issues that may arise during downtime, ensuring that their projects continue running smoothly.
The upgrade also includes an IBC v4.2.0 upgrade and Wasm Hooks. This paves the way for Osmosis Outposts and cross-chain swaps, allowing developers to access Osmosis liquidity without needing to transfer funds to the protocol. This upgrade will make cross-chain wasm hooks reusable. This feature allows developers to easily move assets between different chains and access liquidity across multiple platforms, increasing the accessibility and flexibility of the Osmosis protocol.
The Osmosis team has relentlessly worked to improve the protocol and provide the best experience for its users and developers. The team is committed to continuing to improve the protocol and provide a reliable and secure DeFi experience for all users.
In conclusion, the Osmosis protocol continues to deliver on its promise of a more safe and more efficient DeFi protocol on web3. This upgrade aims to provide a seamless experience for builders, making it easier to build and launch new projects on the Osmosis protocol, increase the security and efficiency of the protocols built on top of it and increase the accessibility and flexibility of the Osmosis protocol.
Edmond is a passionate writer for Video games, GameFi and Web3. He has worked for top GameFi companies and video game/crypto news websites.