Osmosis, dYdX and Synthetix most actively developed DeFi projects: Santiment

Osmosis, a decentralized exchange (DEX) built on Cosmos, has surged to become the most actively developed decentralized finance (DeFi) project in the last month, according to data shared by crypto intelligence platform Santiment. 

In a March 25 post to X, Santiment wrote that Osmosis had seen over 169 commits on GitHub in the last 30 days. The decentralized perpetuals exchange dYdX stood in second place with 145 commits, while derivatives liquidity protocol Synthetix came in third with 116.

Santiment explained the list of “developer activity” was collected by compiling all non-redundant GitHub activity listed on each project’s respective records and providing an average number of those values.

The total value locked (TVL) and overall trading volumes on Osmosis significantly increased between early October and March 15.

Much of the uptick in activity can be traced back to a surge of interest in airdrop farming on Cosmos-related infrastructure throughout the wider crypto sector, with Osmosis being the primary DEX on Cosmos.

Several projects, such as data availability blockchain network Celestia and multilayer RollApp deployer Dymension, use core elements of the Cosmos ecosystem for their networks and have now yielded hundreds of millions of dollars in airdrops for farmers.