Proposal Details

Proposal #930

Passed

Proposal title

Alloyed USDT: Add USDT.eth.atom

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

97.38%

Proposal #930 description

This proposal discusses adding USDT.eth.atom (USDT bridged to Osmosis from Ethereum via the Cosmos Hub's Eureka product) as a constituent of Alloyed USDT with an initial static limit of 20%.

Alloyed USDT

Alloyed USDT was recognized as the canonical USDT on Osmosis in Proposal 792.

It currently has around 1 million in supply on Osmosis, and consists of:

  • USDT.axl (Axelar bridge from Ethereum) (75% Cap)
  • USDT.kava (IBC from Kava EVM) (75% Cap)
  • USDT.wh (Wormhole bridged from Ethereum) (75% Cap)
  • USDT.pica (Picasso bridged from Solana) (40% Cap)
  • USDT.inj (Injective Bridge from Ethereum) (75% Cap)
  • USDT.rt (Router Bridge) (5% Cap)
  • USDT.e.op.axl (Axelar bridge from Ethereum, via Optimism bridge) (20% Cap)
  • USDT.e.arb.axl (Axelar bridge from Ethereum, via Arbitrum bridge) (20% Cap)
  • USDT.e.matic.axl (Axelar bridge from Ethereum, via Polygon bridge) (20% Cap)

Proposed Change

This proposal requests that USDT.eth.atom be added to the existing USDT Alloy, enabling USDT deposits via Eureka.

This proposal adds an initial static rate limit of 20% (~$200k exposure) to bound risk to Alloyed USDT for a new variant on a newly deployed bridging product. This may be further expanded by governance as adoption grows and transfers occur without incident.

For a complete description of Alloyed Assets, see the Blog Post. To view all Alloyed Statistics, see the Alloyed Dashboard.

About Eureka

Eureka is the first major interoperability protocol built on IBC v2, a more efficient and transparent solution for cross-chain asset transfers.

Unlike traditional bridges, Eureka allows for permissionless, secure, and cost-effective asset transfers, bringing new liquidity into the Cosmos ecosystem via the Cosmos Hub and facilitating the expansion of multichain applications. Website: https://cosmos.network/ibc-eureka/

Forum Post: https://forum.osmosis.zone/t/alloyed-usdt-add-usdt-atom/3697

Parameters

Adds USDT.eth.atom -

ibc/7BC2F718C47C0749791F2612A914C8C39D1A4F533A27AF7285D924D4B617DDA6
to allUSDT - osmo1em6xs47hd82806f5cxgyufguxrrc7l0aqx7nzzptjuqgswczk8csavdxek with a normalization factor of 1 due to the exponent of 6 which is standard for USDT transfers and verifiable by deposit. Static Limit of 20% to the same denom.

Proposal #930 overview

Total votes
3,670
Voters
3,663
Total deposit
1,600 OSMO

Proposal #930 votes

#

Validator

Account Address

Options
1PRO DelegatorsYes
2Stakewolle.com |100% InsuranceYes
3Kalia NetworkYes
4StakecitoYes
5ztake.orgYes
60base.vcYes
7Silk NodesYes
8Active NodesYes
9Mad ScientistsYes
10S16 Research VenturesYes
11Frens (🤝,🤝)Yes
12EverstakeYes
13CrosnestYes
14KalpaTechYes
15ShapeShift DAOYes
16node101Abstain
17Chorus OneYes
18DSRVYes
19NFTSwitch.xyz | Delegate for $SOUL Claim DropYes
20BackBone Labs | Delegate for $SOUL Claim DropYes
21CryptoCrew Validators ✅Yes
22Imperator.coYes
2301nodeYes
24DAO DAOYes
25GATA HUBYes
26Trust NodesAbstain
27Chill ValidationYes
28InteropYes
29Node GuardiansYes
30Stakely.ioYes
31AlphaNodes🛸Yes
32HighStakes.ch | Daily AirdropsYes
33KeplrYes
34Vitwit (Previously Witval)Yes
35Cypher CoreYes
36CosmostationYes
37DELIGHTYes
38PoS NodeYes
39KleomedesYes
40Smart Stake 📈📊Abstain
41CrowdControlYes
42ObiYes
43AutoStake 🛡️ Slash ProtectedYes
44CroutonDigitalYes
45Citadel.oneYes
46Oldcat - airdrop DHK every monthYes
47Stake&Relax 🦥Yes
48FreshSTAKINGYes
49Margined ProtocolYes
50MeriaYes
51ChainLayerAbstain
52Crypto AssassinYes
53NosNode🔮Yes
54OWALLETYes
55PingYes
56bryanlabsYes
57The_CyberneticsYes
58ECO Stake 🌱 | REStake.appYes
59CryptoDungeonYes
60Leonoor's CryptomanYes
61Cosmos Spaces ☮️💜⚛️Yes
62Tedcrypto.io 🧸 | TedLottoYes
63MendelYes
64Atlas Staking (Autocompound Rewards)Yes
65polkachu.comYes
66CommunityStakingAbstain

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