Osmosis v25 Upgrade: 1.3 Million OSMO Burned!

IconCNT16 May, 2024

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Osmosis v25 Upgrade: 1.3 Million OSMO Burned!

**Osmosis v25 Upgrade: 1.3 Million OSMO Burned** Cosmos IBC (Inter-Blockchain Communication Protocol)-compatible decentralized exchange Osmosis (OSMO) announced this morning via Twitter, "We have upgraded Osmosis to v25." They went on to explain, "This upgrade includes: Introducing a block auction system, burning 1.3 million OSMO via a burning mechanism, improving the smart contract mechanism, and reducing block production time to 0.5 seconds." **What does this mean for OSMO holders?** The burning of 1.3 million OSMO will reduce the circulating supply of the token, potentially increasing its value. The other upgrades will improve the overall efficiency and functionality of the Osmosis platform, making it more attractive to users and investors. **Previously on [date],** Osmosis announced a partnership with Axelar to enable cross-chain swaps between Cosmos and other blockchains. This is a significant development for Osmosis and the Cosmos ecosystem as a whole. It will make it easier for users to swap tokens between different blockchains, increasing the utility and value of the Osmosis platform.

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