Proposal #224
Passed on 17 May 2022 with 94.1% of the votes for yes.
Yes
94.1%
99.5% without abstain
Veto
0.0%
of votes cast
Ended
17 May 2022
94.08%
of votes cast
5.47%
of votes cast
0.44%
of votes cast
0.01%
of votes cast
Osmosis is the Interchain DEX, which necessitates the purpose of having strong liquidity for many of the top market cap coins./n In order to improve ecosystem economics, we propose an acceleration of the process to diversify the Osmosis liquidity to more stablecoins and major assets outside of just the Cosmos ecosystem./n Recent events have shown a need for further accelerating the timelines for the [Hidden link]) of getting incentives that precede liquidity for such assets./n The recent UST depeg has shown that Osmosis would benefit from having liquidity reserves of multiple stablecoins available./n DAI is one of the most popular decentralized stablecoins available and is based on an overcollateralized CDP based system, and is now bridge-able to Osmosis via Axelar. Transferring half of the Osmosis Incentives on LUNA/UST (#562) to OSMO/DAI (#674) should quickly diversify the stablecoin liquidity on Osmosis./n To prevent this change from reverting at the next semi-automatic incentives proposal, a temporary cap will be put in place of a maximum of 3.265% of Osmosis incentives to be allocated to LUNA/UST (#562) and a temporary minimum of 3.265% of Osmosis incentives be allocated to OSMO/DAI (#674). The temporary minimum should last until the May 23rd incentive adjustment (exclusive)./n/n * By voting YES on this proposal, OSMO stakers voice their support for reallocating a portion of incentives on LUNA/UST (#562) to OSMO/DAI (#674)./n/n * By voting NO on this proposal, OSMO stakers voice their dissent for reallocating a portion of incentives on LUNA/UST (#562) to OSMO/DAI (#674)./n/nCommonwealth Thread: [Hidden link]