Alloyed USDT: Add USDT variants from ETH L2s via Axelar to Alloyed USDT

Description

This proposal would add multiple USDT variants from Ethereum Layer 2s via Axelar constituents of Alloyed USDT with static limits of 20% each, as well as adding static limits to the existing assets within Alloyed USDT.

Alloyed USDT

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

It currently has around 2 million in supply on Osmosis, and consists of:

• USDT.axl (Axelar bridge from Ethereum)
• USDT.kava (IBC from Kava EVM)
• USDT.wh (Wormhole bridged from Ethereum)
• USDT.sol.pica (Picasso bridged from Solana)
• USDT.inj (Injective Bridge from Ethereum)
• USDT.rt (Router Bridge)

This proposal requests the addition of multiple USDT variants from Ethereum Layer 2s via Axelar bridge to the USDT Alloy. This brings more direct connections to USDT liquidity on Arbitrum, Polygon and Optimism utilizing the Axelar bridge which has previously been used to connect to Ethereum as an Osmosis Canonical Bridge.

Connecting directly to this liquidity represents around:

Arbitrum: 2.3% of Circulating USDT

Optimism: 0.75% of Circulating USDT

Polygon: 0.6% of Circulating USDT

Source: DefiLlama

This proposal adds these assets with static rate limits of 20% each, as well as adding static rate limits to the assets already included in the USDT Alloy as follows:

• USDT.axl - 75%
• USDT.kava - 75%
• USDT.wh - 20%
• USDT.sol.pica - 20%
• USDT.e.arb.axl - 20%
• USDT.e.matic.axl - 20%
• USDT.e.op.axl - 20%

For a full description of Alloyed Assets, see the Blog Post

Forum Post: https://forum.osmosis.zone/t/add-several-variants-to-alloyed-usdt/3057