Osmosis
6.9/10 total
An application-specific Cosmos SDK chain whose entire purpose is being a DEX, which makes it the main place to trade IBC assets across the fifty-plus chains it connects to, plus bridged Ethereum, Solana and Bitcoin representations. Custody is your own Cosmos keypair throughout. In June 2022 a bug in JoinPoolNoSwap let liquidity providers withdraw 50% more than they deposited, roughly $5M was drained, the chain was halted for about two days and the Osmosis Foundation covered the shortfall in kind.
Scores
Weights are published in the method and applied identically to every entry.
For
- No account, no email, no identity verification
- Non-custodial: assets sit in your own account on the Osmosis chain, controlled by your keys
- By far the best coverage of IBC and Cosmos ecosystem assets, with native routing rather than wrapped detours
- Chain gas is negligible, so the 0.1% taker fee plus spread factor is the real all-in cost even on small trades
- Fully open source, including the chain, the front end and the routing service, and the chain is queryable from any public RPC node
Against
- June 2022 exploit: a JoinPoolNoSwap accounting bug allowed 150% returns on add-then-remove liquidity, about $5M drained, chain halted for roughly 48 hours. Losses were covered by the Foundation, but a validator operator publicly admitted its team exploited the bug
- Two fees stack, taker fee plus pool spread factor, and the headline pool fee understates the real cost
- Application-chain halts are a live risk: governance and validators can and have stopped the chain, so exit is not always available
- Non-Cosmos assets arrive over bridges, which adds a trust assumption the DEX itself does not cover
- Every trade is permanently public on-chain and attributable to your address; front end sees your IP, no onion service, no no-JavaScript path
Agent access 9/10
The Sidecar Query Server exposes public quote and route endpoints, and any Cosmos client can sign and broadcast a MsgSwapExactAmountIn from a funded keypair. No account, no API key.
Reported separately and not counted in the total. It measures what an autonomous agent can do unattended, not whether the service is safe to use.
Fees
0.1% taker fee plus pool spread factor
Two charges stack. A protocol taker fee, default 0.1%, is applied to trades and is managed by the Protocol Fee Controller subDAO, which grants reductions and exemptions on some routes. On top of that sits the pool's own swap fee, called the spread factor in concentrated liquidity pools, commonly 0.05%-0.3%. A typical Cosmos pair therefore costs around 0.2%-0.4% all in, plus negligible chain gas.
Specification
- Type
- On-chain DEX
- KYC policy
- No KYC
- Custody model
- onchain
- Account required
- no
- Assets
- ~400 pairs
- Chains
- 50+ via IBC
- Operating since
- 2021
- Jurisdiction
- none
- Onion service
- no
- Works without JS
- no
- Open source
- yes
- Facts checked
- 2026-07-31
Links
Plain links, no referral parameters. Verify the domain yourself; phishing clones of every service in this table exist.