Proposal #729

Migrate Incentives from WBTC.axl to WBTC pools

Exec Legacy Content
passed
Expected result
Passed
Turnout / Quorum
104.28% / 20.00%

Voting period

Voting ended100.0%
Voting start 2024.02.12 at 14:32:26
Voting end 2024.02.17 at 14:32:26

Vote distribution

96.93%
209 549 014 osmo
Yes
0.04%
75 979 osmo
No
0.01%
18 813 osmo
Veto
3.02%
6 538 644 osmo
Abstain

Details

logo
Proposer
osmo19w2t4ue7qpdh6022...
Total deposit
1 600 osmo
Submit time
2024.02.12 at 14:32:26
Deposit end time
2024.02.26 at 14:32:26

Description

This proposal asks that the incentives program migrates from incentivizing WBTC.axl pools to IBC native WBTC pairings. This proposal directly moves half of the incentives from WBTC.axl pairings to WBTC pairings with the other half being moved at the next routine incentive proposal. \n\n## Background \nWith Proposal 604, Osmosis governance has recognized IBC native WBTC minted on Osmosis as the canonical version of WBTC. \n\nThis status comes with the promise that the canonical status of WBTC will receive higher incentives than the non-canonical version. \n\nThis proposal would cause the transfer of incentives from the currently incentivized WBTC.axl volume splitting gauges to the newly created WBTC volume splitting gauges over three weeks, culminating in removing the WBTC.axl pool from the incentives system. \n\nThis proposal directly transfers half of the current OSMO incentives from the OSMO / WBTC.axl pool to a combination of the OSMO / WBTC and WBTC / STABLE Volume Splitting Gauge groups. \n\nThis proposal also performs a routine move of incentives from individual pools to the VSG created in Proposal 724. \n\nThe remaining incentives in the OSMO / WBTC.axl group and the WBTC.axl/STABLE group will be moved to the OSMO / WBTC and WBTC/STABLE grouping in the next routine incentives proposal, expected at the start of March, meaning that both pools will receive a share of incentives for two to three weeks. \n\nLiquidity for the WBTC.axl asset will be maintained by the incentivization of a WBTC.axl/WBTC pool as well as unsubsidized swap fees. \n\nOSMO / WBTC.axl\nCurrent: 1894\nThis Proposal: 947\nMarch Incentives: 0\n\nWBTC.axl / STABLE\nCurrent: 111\nThis Proposal: 111\nMarch Incentives: 0\n\nOSMO / WBTC\nCurrent: 150\nThis Proposal: 624\nMarch Incentives: 1571 (Subject to normal adjustment)\n\nWBTC / STABLE\nCurrent: 250\n This Proposal: 723\n March Incentives: 834 (Subject to normal adjustment)\n\nForum Thread: https://forum.osmosis.zone/t/migrate-incentives-from-wbtc-axl-to-wbtc-pools/441

Votes

Voter
Answer