Learn Osmosis
Osmosis is an onchain decentralized exchange and the liquidity hub of the Cosmos ecosystem. It lets anyone trade, provide liquidity, and launch assets across dozens of interconnected chains, with the trading logic, liquidity, and governance all living onchain.
This section explains the ideas behind Osmosis: what the protocol is, how its markets and tokenomics work, and the concepts you will meet throughout the rest of the docs. No code or node setup here, just the mental model. If you want to integrate against Osmosis, build on it, or run a node, head to Integrate, Build, or Validate once the concepts make sense.
Start with What is Osmosis? for the overview, The OSMO Token for tokenomics and governance, and the Glossary whenever a term is unfamiliar. The Features pages explain the mechanisms that make Osmosis distinct (concentrated liquidity, the EIP-1559 fee market, fee abstraction, ProtoRev, and more), and Getting Started walks through connecting a wallet and making your first trade.
What is Osmosis?
Osmosis is the premier cross-chain DeFi hub. As the liquidity center and primary trading venue of Cosmos – the open, emergent ecosystem of sovereign Layer 1s connected with the Inter-Blockchain Communication protocol (IBC) – it is the access point for the wide world of appchains, the gateway to the interchain.
The OSMO Token
The OSMO token is a governance token that allows staked token holders to decide the future of the protocol, including every implementation detail. OSMO is currently used for the following (although governance is free to add or remove these functions):
Getting Started
Set up a Wallet
IBC Protocol
What is IBC? Enabling Seamless Cross-Chain Communication
Features
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Glossary
Use this glossary to learn about terms used in Osmosis and the Cosmos ecosystem.