Alloyed USDT: Increase USDT.inj static limit to 75%
Voting period
Vote distribution
Details
Description
This proposal requests expanding USDT.inj from the current static rate limit of 40% to 75%, as it has been consistently at the cap recently, indicating a market desire to move into Osmosis via this route.
Increasing the static limit according to demand allows the USDT alloy room to expand controllably into the most popular variants while minimizing any potential impact of a security issue with the less popular variants.
For a full description of Alloyed Assets, see the Blog Post
Alloyed USDT
Alloyed USDT was recognized as the canonical USDT on Osmosis in Proposal 792.
It currently has around 2.3 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) (40% Cap)
- USDT.pica (Picasso bridged from Solana) (40% Cap)
- USDT.inj (Injective Bridge from Ethereum) (40% Cap)
- USDT.rt (Router Bridge) (20% 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)
About Injective and Peggy
Injective is a lightning-fast, interoperable, layer one blockchain optimized for building premier Web3 financial applications. Injective provides developers with robust plug-and-play modules such as a fully decentralized orderbook, binary options, real-world asset (RWA) module, and more, allowing developers to build a diverse array of sophisticated applications.
The Peggy module enables the Injective Chain to support a trustless, on-chain bidirectional ERC-20 token bridge to Ethereum. In this system, holders of ERC-20 tokens on Ethereum can convert their ERC-20 tokens to Cosmos-native coins on the Injective Chain and vice-versa.
This decentralized bridge is secured and operated by the validators of the Injective Chain.
Forum Thread: https://forum.osmosis.zone/t/alloyed-usdt-increase-static-caps-for-usdt-inj-and-usdt-eth-wh-to-75/3392
Votes