In a groundbreaking announcement at Breakpoint 2024, Sunny Aggarwal, co-founder of Osmosis, unveiled Polaris - a revolutionary cross-chain token portal set to transform the way users interact with cryptocurrencies across multiple blockchain ecosystems.

Summary

Sunny Aggarwal, co-founder of Osmosis, a leading DEX App Chain in the Cosmos ecosystem, introduced Polaris at Breakpoint 2024. Polaris is designed to address the "great chain divide" - the fragmentation of liquidity across different blockchain ecosystems. This innovative token portal allows users to seamlessly trade and manage assets across multiple chains through a single, user-friendly interface.

Polaris aims to bridge the gap between different blockchain ecosystems by providing a unified platform for users to connect multiple wallets, view aggregated balances, and execute complex cross-chain trades with ease. The platform introduces unique features such as Polaris Vaults, which extend wallet functionality to unsupported networks, and an autopilot feature that automates multi-step cross-chain transactions.

By focusing on user experience and breaking down the barriers between blockchain ecosystems, Polaris represents a significant step forward in making cryptocurrency trading more accessible and efficient for users, regardless of their preferred chains or tokens.

Key Points:

Osmosis Background and Features

Osmosis, co-founded by Sunny Aggarwal, is a DEX App Chain that has become the dominant decentralized exchange in the Cosmos ecosystem. It's connected to over 100 different blockchains and serves as the primary liquidity venue for major Cosmos ecosystem assets such as TIA, AKT, and UIDNX. Osmosis has also expanded its focus to include Bitcoin liquidity.

The platform is known for its commitment to user experience, leveraging its App Chain features to offer unique benefits. These include one-click trading, allowing users to trade rapidly without signing wallet transactions for each trade, and the ability to pay gas fees in any token, including USDC, Bitcoin, and SOL. Osmosis also provides native cross-chain swaps, enabling users to trade between different Cosmos chains without making transactions on Osmosis itself.

The Great Chain Divide

Despite Osmosis's success and innovative features, Aggarwal identified a significant problem in the cryptocurrency space: the "great chain divide." This refers to the fragmentation of liquidity across various blockchain ecosystems. While Osmosis had created an excellent product for the Cosmos ecosystem, it struggled to reach users in other blockchain networks.

The issue stems from the chain-centric design of most crypto applications, infrastructure, wallets, and liquidity venues. However, Aggarwal emphasized that users are not "chain maxis" - they want to trade across all ecosystems. This realization led to the development of Polaris, a solution designed to cater to users' needs rather than being limited by chain boundaries.

Introducing Polaris: The Token Portal

Polaris is introduced as a token portal, drawing an analogy to web portals. It provides a single interface that allows users to access liquidity across various venues and chains. The platform is designed to tackle the fragmentation problem at the interface layer, recognizing that users have preferred wallets they like to use.

Key features of Polaris include:

1. Multi-wallet connection: Users can connect multiple wallets from different ecosystems (e.g., Phantom for Solana and Bitcoin, MetaMask for EVM chains) in one place.
2. Aggregated portfolio view: Polaris offers a comprehensive view of balances across all connected networks, even aggregating like assets (e.g., BTC on Bitcoin network and WBTC on Ethereum).
3. Flexible asset receiving options: Users can choose which network they want to receive their assets on, whether it's the native chain or as a wrapped token on another chain.
4. Cross-chain trading: Polaris enables complex cross-chain trades, handling all the intermediate steps automatically.

Polaris Vaults and Autopilot Feature

One of the most innovative aspects of Polaris is the introduction of Polaris Vaults. These vaults extend the functionality of existing wallets to support networks they don't natively support. This is achieved through an MPC service currently run by independent nodes, with plans to transition to the Osmosis validator set in the future.

The Polaris Vaults work in conjunction with an autopilot feature, which automates complex cross-chain transactions. This allows users to execute trades involving multiple steps across different chains without having to manually sign each transaction or interact with multiple platforms.

For example, a user can trade SOL on Solana for TON on the TON network, a process that typically involves multiple swaps and bridges. Polaris handles all these steps automatically, including gas fee payments, allowing users to complete complex trades with a single transaction.

Facts + Figures

• Osmosis is connected to over 100 different blockchains
• Osmosis is the primary liquidity venue for major Cosmos ecosystem assets
• Polaris allows connection to multiple wallets across different ecosystems
• The platform aggregates balances across all connected networks
• Polaris Vaults use an MPC service to extend wallet functionality
• The autopilot feature can handle complex trades involving up to five different steps
• Polaris automates gas fee payments across different chains
• Early access to Polaris is available through the Polaris.app website

Top quotes

1. "We build a lot of these amazing features into Osmosis that have created this great trading experience. But we face this thing we call the great chain divide."
2. "Users are not chain maxis, right? The apps might be chain maxis right now, but the users say they want to trade everything."
3. "We want to build apps for users, not for the chains."
4. "Just like a web portal, it's a single interface that allows you to tap into liquidity across all these different venues and chains."
5. "The end state of crypto UX is that users should not really have to even be thinking about what networks they're receiving on."

Questions Answered

What is Polaris?

Polaris is a cross-chain token portal that provides a unified interface for users to access liquidity and trade across multiple blockchain ecosystems. It allows users to connect various wallets, view aggregated balances, and execute complex cross-chain trades through a single, user-friendly platform. Polaris aims to solve the problem of fragmented liquidity across different blockchain networks.

How does Polaris address the "great chain divide"?

Polaris addresses the "great chain divide" by providing a single interface that connects multiple blockchain ecosystems. It allows users to trade assets across different chains without having to interact with multiple platforms or understand the complexities of cross-chain transactions. By aggregating liquidity and simplifying the trading process, Polaris bridges the gap between different blockchain networks and creates a more unified trading experience.

What are Polaris Vaults?

Polaris Vaults are a unique feature that extends the functionality of existing wallets to support networks they don't natively support. These vaults use an MPC (Multi-Party Computation) service to create new keys that are controlled by the user's existing wallet. This allows users to interact with new blockchains without having to install additional wallet software, simplifying the process of cross-chain trading and asset management.

How does the autopilot feature in Polaris work?

The autopilot feature in Polaris automates complex cross-chain transactions. When a user initiates a trade that involves multiple steps across different chains, the autopilot feature handles all the intermediate transactions automatically. This includes swaps, bridges, and gas fee payments across various networks. Users only need to approve the initial transaction, and the autopilot takes care of the rest, significantly simplifying the process of cross-chain trading.

How does Polaris handle gas fees for cross-chain transactions?

Polaris includes a gas station feature that automates gas fee payments across different chains. When executing a cross-chain transaction, Polaris ensures that appropriate gas fees are paid on each involved network. This removes the need for users to hold native tokens for gas on every chain they interact with, making the trading process more seamless and user-friendly.

How can users get access to Polaris?

Users interested in trying Polaris can sign up for early access through the Polaris.app website. The platform is not yet fully launched, but early access will allow users to experience the cross-chain trading capabilities and provide feedback for further development.