Proposal #434
Passed on 20 Feb 2023 with 78.6% of the votes for yes.
Yes
78.6%
98.3% without abstain
Veto
0.0%
of votes cast
Ended
20 Feb 2023
78.65%
of votes cast
20.02%
of votes cast
1.28%
of votes cast
0.05%
of votes cast
This proposal would add FTM to the list of assets that Osmosis recognises as strategically important for growth, increasing the incentives allocated to it.
FTM is currently the rank 42 cryptocurrency by marketcap with a valuation of around $1.5 Billion, 3 times higher than Osmosis. wFTM is the wrapped version of this able to be used across Fantom DeFi, for the purposes of bridged assets to other chains these are treated the same on Osmosis.
The majority of trade volume happens on alternative decentralised exchanges for wFTM and centralised exchanges for FTM, not on Osmosis.
This proposal asks if Osmosis has a strategic interest in attracting more liquidity of FTM and so will enable it to access a greater proportion of liquidity incentives.
Fantom is a high-performance, scalable, EVM-compatible, and secure smart-contract platform. Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. Fantom is a leaderless, asynchronous, and byzantine fault-tolerant Layer 1 blockchain protocol.
Lachesis enables Fantom to deliver fast transaction speeds, low transaction costs, and deterministic finality. This is achieved while remaining permissionless, decentralized, and open-source.
FTM is currently provided on Osmosis via the Axelar bridge.
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