Proposal #440
Passed on 26 Feb 2023 with 93.5% of the votes for yes.
Yes
93.5%
99.7% without abstain
Veto
0.0%
of votes cast
Ended
26 Feb 2023
93.54%
of votes cast
6.16%
of votes cast
0.28%
of votes cast
0.01%
of votes cast
This proposal would wind down all OSMO incentives involving the BUSD stablecoin over the following two weeks.
On the 13th February 2023, Paxos, the issuer of the BUSD stablecoin, released a [Hidden link] that they will cease further issuance on the 21st February 2023.
This impacts Osmosis as we have recently voted to [Hidden link], [Hidden link] containing BUSD, [Hidden link] and [Hidden link].
While the cessation of issuance is concerning, Paxos have attestations of full backing and intend to support redemption of BUSD until February 2024. Therefore this proposal is not an emergency proposal and will stagger the removal of incentives from BUSD related pools to give users time to unbond.
This signalling proposal lays out the path to removing BUSD incentives and has no direct effect.
At the first routine incentives proposal after passing the following would occur:
At the second routine incentives proposal after passing the following would occur:
Commonwealth Thread: [Hidden link]