Proposal Details

Proposal #870

Passed

Proposal title

Alloyed BTC: Add cbBTC.axl

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

98.31%

Proposal #870 description

This proposal would add cbBTC.axl as a constituent of Alloyed BTC with an initial static limit of 10%.

Alloyed BTC

Alloyed BTC was recognized as the canonical Bitcoin on Osmosis in Proposal 813.

It currently has around 59 BTC in supply on Osmosis, and consists of:

  • WBTC.eth.axl (Axelar bridge from Ethereum) (75% Cap)
  • WBTC (Natively Issued on Osmosis)
  • ckBTC (Chain-Key Bitcoin via ICP) (20% Cap)
  • nBTC (Nomic Bridged Bitcoin) (5% Cap)

This proposal requests the addition of cbBTC.axl to the existing Bitcoin Alloy, enabling BTC to be deposited via Base and the Axelar bridge.

This proposal adds an initial static rate limit of 10% to bound risk to Alloyed BTC for the established cbBTC issuance.

For a full description of Alloyed Assets, see the Blog Post

About cbBTC

cbBTC is a representative asset for Bitcoin backed by Coinbase, allowing its users to move their BTC to alternative chains from their off-chain account. While cbBTC is available on Base, Solana and Ethereum, this proposal only adds the cbBTC via Base, where it is the dominant Bitcoin representative asset. More Information

About Axelar

Axelar delivers secure cross-chain communication for Web3. Its infrastructure enables dApp users to interact with any asset or application on any chain with one click.

The Osmosis community voted Axelar the first canonical Ethereum bridge service provider in Proposal 206. Axelar currently facilitates liquidity for several bridged Ethereum assets on Osmosis, such as WBTC.eth, ETH, USDC, USDT, DAI, as well as connecting Osmosis to other chains such as Optimism, Arbitrum, Polygon and Avalanche.

Around 50.4M USD of tokens used within the Osmosis ecosystem have arrived via the Axelar bridge.

Target Onchain Date: 27th November 2024

Forum Post: https://forum.osmosis.zone/t/alloyed-btc-add-cbbtc-axl/3298

Proposal #870 overview

Total votes
7,634
Voters
7,619
Total deposit
1,600 OSMO

Proposal #870 votes

#

Validator

Account Address

Options
1NFTSwitch.xyz | Delegate for $SOUL Claim DropYes
2Coinage x DAICYes
3Bro_n_BroYes
4Swiss StakingYes
5Stakewolle.com |100% InsuranceYes
6strangeloveYes
7PRO DelegatorsYes
8PRYZM | StakeDropYes
9TessellatedYes
10coinhall.orgYes
11S16 Research VenturesYes
12Klub StakingYes
130base.vcYes
14DELIGHTYes
15Oni ⛩️Yes
16ProvalidatorYes
17Stakely.ioYes
18NosNode🔮Yes
19The_CyberneticsYes
20Chorus OneYes
21Chill ValidationYes
22vido.infoYes
23ChainLayerYes
24ZKVYes
25Vitwit (Previously Witval)Yes
26SpectrumXYes
27DAO DAOYes
28Kalia NetworkYes
29HFA X Defi DojoYes
30Dora FactoryYes
31KalpaTechYes
32StakecitoYes
33OldcatYes
34Smart Stake 📈📊Yes
35Interstellar Lounge 🍸Abstain
36Binary BuildersYes
37ValidatusYes
38#decentralizehk - DHK daoYes
39KleomedesYes
40Booga BerasYes
41in3s.comYes
42Imperator.coYes
43PoS NodeYes
44EverstakeYes
45Lavender.Five Nodes 🐝Yes
46KomikuriYes
47CryptoDungeonYes
48ObiYes
49Citadel.oneYes
50FreshSTAKINGYes
51POSTHUMAN 🧬 StakeDropYes
52bryanlabsYes
53Leonoor's CryptomanYes
54DSRVYes
55NodeStakeYes
56WhisperNode 🤐Yes
57GATA HUBYes
58HighStakes.ch | Daily AirdropsYes
59CryptoCrew Validators ✅Yes
60AllnodesYes
61Active NodesYes
62MeriaYes
63Frens (🤝,🤝)Yes
64blockscapeYes
65AutoStake 🛡️ Slash ProtectedYes
66KeplrYes
67Node GuardiansYes
68NansenYes
69QuebecYes
70InteropYes
71Trust NodesAbstain
72Cypher CoreYes
73CrosnestYes
74ChihuahuaYes
75polkachu.comYes
76Nodes.GuruYes
77CrowdControlYes
78CommunityStakingAbstain
79Margined ProtocolYes
80White WhaleYes
81Crypto AssassinYes

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