Matching incentives for Frax assets on Osmosis with Picasso
Voting period
Vote distribution
Details
Description
This proposal would allocate 52,845 OSMO over 6 weeks to match 97,74 FXS and 9,068,080 PICA emissions for 3 new pools enabled by Picasso’s Ethereum IBC bridge.
The initial set of pools created are:
- sFRAX / USDC (yield bearing)
- sfrxETH / OSMO (yield bearing)
- FXS / OSMO (cross-pollinate for alignment)
Justification for Spend $65k worth of OSMO (52,845 ) to match the $65K worth of FXS (97,74) and $65k of PICA (9,068,080) at the time of posting.
The new IBC connection offers a key infrastructure to enable a truly cross-ecosystem DeFi industry. The spend incentivizes both liquidity and users from Ethereum - specifically Frax to port over to Cosmos.
This synergy benefits both ecosystems and positions Osmosis as a pivotal hub for Ethereum’s blue-chip DeFi assets and yield-bearing products, enhancing its appeal and functionality within the broader DeFi industry.
Deployment Mechanism This proposal requests 52,845 OSMO to be transferred to the Builder Multisig.
150 OSMO will then be used for gauge creation, which returns to the Osmosis community pool.
The remaining 52,695 OSMO will be automatically distributed to the mentioned pools over a 6 week period.
Votes