Cosmos ecosystem’s Gravity DEX protocol to migrate to its own blockchain

The B-Harvest team will rebrand the cross-chain Gravity DEX protocol on the Cosmos Hub, renaming the platform to Crescent and relaunching the smart contracts in the eponymous network, according to CoinDesk.

Gravity DEX запустили in July 2021. The solution enables cross-chain swaps and the creation of liquidity pools with tokens from any blockchain connected to the Cosmos ecosystem.

The protocol uses the platform Emeris. The latter, in a “single window” mode, provides access to a wide range of DeFi apps — from lending to payments. On the moment of writing, in its liquidity pools находятся assets worth less than $5 million.

On 28 March 2022, the community поддержало B-Harvest’s proposal to migrate the project to a separate Crescent Network blockchain. According to the developers, this move will enhance the decentralisation of governance and security of the protocol, as well as expand its functionality.

Mainnet Launch D-7

The Ethos of Crescent now open for discussion.
Be part of the Moonrise.https://t.co/iUs0HVkGZK

— Crescent Network (@CrescentHub) April 8, 2022

The project team will launch a decentralized exchange that will use a hybrid order-book and automated market maker. In the early stages, the platform will not charge fees.

The new DEX will also offer cross-chain lending services.

The Crescent Foundation, a non-profit organisation, will oversee Crescent Network. One of its first steps will be studying cross-chain bridges, seeking to connect, to assess their security and economic viability.

In a conversation with the publication, a representative of B-Harvest noted that the old version of the protocol on Cosmos Hub would continue to operate, but users would be offered rewards for transferring assets to the new liquidity pools.

The Crescent Network launch was scheduled for 14 April 2022.

In April 2021, B-Harvest acquired the Cosmos development company Ignite (formerly Tendermint).

Earlier in March 2022, the Evmos team on Cosmos announced the relaunch of the project.