Cosmos DEX Osmosis’ DAO voting to adopt ‘fee-free’ bitcoin bridge via Nomic | Headlines | News | CoinMarketCap
06/21/2024 20:22Osmosis DAO, the community governing the Cosmos-based decentralized exchange and appchain Osmosis, is set to vote in favor of adopting a "fee-free" …
Osmosis DAO, the community governing the Cosmos-based decentralized exchange and appchain Osmosis, is set to vote in favor of adopting a "fee-free" bitcoin bridge via the decentralized bridging protocol Nomic.
Some 91.7% of votes are in currently favor of the proposal amid a 46.4% turnout, with voting due to end at 7 p.m. ET. Just 1.2% have voted against the move so far, with 7.1% abstaining. The upgrade, if approved, would mean bitcoin can move more freely into the Cosmos ecosystem for DeFi-related activities.
The proposal introduces a new protocol revenue-sharing arrangement between Nomic and Osmosis, aimed at enhancing bitcoin liquidity on the platform by replacing current bridging costs.
Nomic currently allows users to deposit bitcoin directly to Osmosis to receive its …