Activate Protocol fee share agreement for nBTC

Description

This proposal activates the protocol fee share agreement for nBTC as agreed in Proposal 795.

Summary of Revenue Share

When a trade is performed on Osmosis, the protocol levies a taker fee on the token that enters the trade, which is currently set at 10 bips by default.

When a swap route involves nBTC on Osmosis, Nomic will receive 10% of the total taker fees on the swap charged by Osmosis.

For swaps not involving nBTC, but involving alloyed BTC (of which nBTC is a component), Nomic will receive a cut of the 10% rev share in proportion to nBTC’s composition of the alloy. For example, if nBTC makes up 40% of the allBTC alloy, Nomic will receive 4% of the Osmosis taker fee on that swap.

The accrued rev share fees will periodically be transferred to Nomic as nBTC and paid out according to Nomic’s regular protocol revenue distribution mechanism.

Forum Post:https://forum.osmosis.zone/t/nbtc-revenue-share-proposal/2791