Proposal #214
Passed on 04 May 2022 with 93.9% of the votes for yes.
Yes
93.9%
99.7% without abstain
Veto
0.0%
of votes cast
Ended
04 May 2022
93.86%
of votes cast
5.89%
of votes cast
0.23%
of votes cast
0.02%
of votes cast
Voting YES for this proposal would reduce the Pool 1 (OSMO/ATOM) swap fee from 0.3% to 0.2%
Voting NO for this proposal indicates that the Pool 1 (OSMO/ATOM) swap fee should remain unchanged at 0.3%
Background With the passing of Proposal 187 (Multihop Discount on Osmosis Pools) most trades should be routed through OSMO pools. OSMO pools mostly have swap fees set at 0.2%, however the major ATOM/OSMO pool (#1) has a swap fee of 0.3%. This causes some direct trades between ATOM/X to have a lower, or identical cost in swap fee to the multi-hop routes. As trades via OSMO pools usually benefit from their higher liquidity and so have lower slippage costs in comparison to non-OSMO pools they may still be the more optimal route for larger trades. The use of OSMO pools as the optimal trade route for user purchases is beneficial for Osmosis. Ideally this would be voted on purely by Pool 1 Liquidity Providers, however pool sub-governance is not functional yet and so this will be asked of all Osmosis governance and implemented during the next software upgrade if passed. Pool 1 Liquidity Providers specifically should see compensatory swap fees generated from the new routes passing through the pool as well as increased frequency of volatility harvesting as mentioned in the multihop proposal.
Affected routes: From Identical swap fees to Multihop being having lower swap fees: ATOM/JUNO, ATOM/STARS, ATOM/CMDX, ATOM/LUM, ATOM/NGM, ATOM/IOV From higher swap fees in Multihop to Identical swap fees: ATOM/IXO, ATOM/DEC, ATOM/CHEQ
For a full comparison of the swap fees by route before and after the change proposed see here: [Hidden link]
Further details and discussion: [Hidden link]