Alloyed Assets: Raise Static caps on Eureka assets
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97.84%
Proposal #959 description
This proposal requests raising the static rate limits for the Eureka-bridged WBTC and ETH within the Alloyed BTC and ETH.
WBTC.eth.atom from 5% to 10%
ETH.atom from 10% to 20%
Proposal Details
Rising demand for directly bridged assets via Eureka indicates that current caps may be too restrictive, limiting user participation and reducing routing efficiency. The Eureka product has been live for two months and these initial tight caps may begin to be loosened.
Increasing the static limits enables:
Greater utilization of the IBCv2 Eureka bridge
Improved routing options and user access via Skip
Current usage is 1.3% out of 5% for WBTC.eth.atom, 3% out of 10% for ETH.atom.
Token Information
WBTC.atom, currently capped at 5%, is a wrapped Bitcoin token bridged via Eureka through the Cosmos Hub and added to Alloyed BTC in Proposal 931.
Details on current liquidity, composition and cap levels can be found on the Alloyed Asset Dashboard
USDT.eth.atom has so far seen minimal usage and adjustment is not proposed here.
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.
