Proposal #409
Passed on 30 Jan 2023 with 93.5% of the votes for yes.
Yes
93.5%
99.7% without abstain
Veto
0.0%
of votes cast
Ended
30 Jan 2023
93.54%
of votes cast
6.18%
of votes cast
0.28%
of votes cast
0.00%
of votes cast
This proposal would add AVAX to the list of assets that Osmosis recognises as strategically important for growth, increasing the incentives allocated to it.
AVAX is currently the rank 18 cryptocurrency by marketcap with a valuation of around .4 Billion, 12 times higher than Osmosis. wAVAX is the wrapped version of this able to be used across Avalance Network DeFi, for the purposes of bridged assets to other chains these are treated the same. The majority of trade volume happens on alternative decentralised exchanges for wAVAX and centralised exchanges for AVAX, not on Osmosis. This proposal asks if Osmosis has a strategic interest in attracting more liquidity of AVAX and so will enable it to access a greater proportion of liquidity incentives.
AVAX is the native token of the Avalanche platform and is used to secure the network through staking, pay for fees, and provide a basic unit of account between the multiple subnetworks created on the Avalanche platform. wAVAX is the wrapped version of AVAX that enables use on the Avalanche network. Website: [Hidden link]
Commonwealth Thread: [Hidden link]