Osmosis Proposal: #872

Alloyed USDT: Increase USDT.sol.pica static limit to 40%

Status:

Passed

Yes98.6%

Turnout:55.66%

Quorum:20.00%

Yes: 98.6%

179,423,333 OSMO

No: 0%

43,271 OSMO

No With Veto: 0%

3,208 OSMO

Abstain: 1.4%

2,497,430 OSMO

Voting Period

Proposer

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Deposit End

Submit Time

Description

This proposal requests expanding USDT.sol.pica from the current static rate limit of 20% to 40%, as it has been consistently near 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 1.7 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) (20% Cap)
USDT.pica (Picasso bridged from Solana) (20% Cap)
USDT.inj (Injective Bridge from Ethereum) (20% 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 Wormhole

Wormhole was recognized as a canonical bridge for Osmosis in Proposal 582 and caters for around 91M USD in volume per day across a wide variety of blockchain ecosystems.

Forum Thread: https://forum.osmosis.zone/t/alloyed-usdt-increase-static-caps-for-usdt-inj-usdt-sol-pica-usdt-eth-wh-and-to-40/3300