Several DeFi protocols plan to join forces to solve the liquidity problem in the Cosmos ecosystem. Participating teams include cross-chain bridge protocol Wormhole, liquidity aggregator Swing, lending protocol Tashi, and Cosmos network Evmos.
According to the announcement, Wormhole will register five new bridge tokens for use on Evmos: Tether (USDT), USD Coin (USDC), wrapped Ether (wETH), wrapped Bitcoin (wBTC) and Solana (SOL). Wormhole governance voting on this part of the proposal began on September 19th and currently has almost unanimous support. The voting will end on September 24th.
Once tokens are launched on Evmos, they will be deployed into the Swing protocol, which will allow users to send tokens to Evmos from any network supported by Swing, including BNB Chain, Polygon, Fantom, and more.
