The Cosmos Hub has a native DEX!

TL;DR

Stride Labs has unveiled Stride Swap, an IBC-native DEX that will live directly on the Cosmos Hub. Backed by an investment from the Interchain Foundation (ICF), the exchange is designed to become the main liquidity and routing layer for IBC Eureka— a bridge that connects Cosmos to Ethereum, Bitcoin, Solana and more. The launch of Stride Swap is targeted for Summer 2025.

Stride Swap is coming to the Cosmos Hub

• Stride Swap is the IBC Eureka DEX, purpose-built for the Cosmos Hub.

• It will soon execute all "bridge swaps" that are routed through the Hub via IBC Eureka.

• Moreover, it will serve as the liquidity foundation for all DeFi apps built on the Hub.

• This makes Stride Swap the best venue for Eureka chains and apps built on the Hub to launch their tokens and host their liquidity.

Key Features and Innovations

1) Multichain Swaps: Stride Swap enables seamless trading between assets like ETH, SOL, USDT and Cosmos-native tokens such as ATOM, BABY, TIA, and USDC, leveraging IBC Eureka as interoperability platform under the hood.

2) Hooks for Customization: Hooks allow developers to tailor liquidity pools with advanced functionalities like dollar-cost averaging (DCA), limit orders, programmatic fees, and more, enhancing flexibility for developers building on the Hub.

3) Advanced Trading Features: The DEX supports various vaults (cross-chain vault strategies), integrated liquid staking functionality (stATOM), and directly integrates with other DeFi apps built on the Hub (lending protocols, perps, NFT markets, etc).

4) No Bridging Required: Users across all ecosystems can directly connect their wallets like MetaMask, Phantom, or Keplr and start trading. No need to deposit or withdraw tokens.

5) Flexible Fee Payments: Users can pay transaction fees in any token they hold.

Tokenomics & $ATOM-Alignment

Stride shares 20% of its revenue (DEX + LSTs) with the Cosmos Hub to buy back and burn $ATOM, and retains 80% for the Stride protocol itself.

This percentage can be changed later down the road, as Stride Swap and a thriving DeFi ecosystem on the Hub get into full swing.

However, in reality it's much more than 20% going to the Hub, as most of Stride's revenue will be used to benefit the Cosmos Hub in various ways like:

• Encourage Eureka chains and Hub apps to deploy liquidity on the Hub via revenue sharing agreements.

• Buy $ATOM from the open market to form a $ATOM treasury.

• Deepen liquidity pools on the Cosmos Hub.

• Targeted incentive campaigns for Cosmos Hub users.

Future Roadmap

• Q2 2025: Stride Swap mainnet launch on the Hub; enabling IBC Eureka routed swaps.

• Q3 2025: Limit orders, DCA tools, dynamic fees, integration with Hub-based DeFi apps.

• Q4 2025: Solana support ($SOL, $BONK, $WIF) plus Phantom/Backpack integration.

• 2026+: IBC v2 expansion to 10+ more chains. => Wherever IBC goes next, Stride goes with it.

The Hub at the Centre of the Multichain

Stride Swap aims to transform the Cosmos Hub into a central liquidity and routing layer for multichain DeFi, capturing value from the increased cross-chain activity facilitated by IBC Eureka. By hosting the DEX natively on the Hub, it ensures that trading fees, users, and developers contribute directly to the success of the Cosmos ecosystem, the Hub & $ATOM.​

Thanks for reading folks!

We hope this article helped you stay up-to-date with the latest developments in the Cosmos ecosystem.

Disclaimer

This article is intended to educate readers about certain topics and should not be considered financial advice in any way.