Proposal #863
Passed on 23 Nov 2024 with 97.5% of the votes for yes.
Yes
97.5%
100.0% without abstain
Veto
0.0%
of votes cast
Ended
23 Nov 2024
97.50%
of votes cast
2.48%
of votes cast
0.02%
of votes cast
0.00%
of votes cast
This proposal activates the protocol fee share agreement for nBTC as agreed in [Hidden link].
When a trade is performed on Osmosis, the protocol levies a taker fee on the token that enters the trade, which is currently set at 10 bips by default.
When a swap route involves nBTC on Osmosis, Nomic will receive 10% of the total taker fees on the swap charged by Osmosis.
For swaps not involving nBTC, but involving alloyed BTC (of which nBTC is a component), Nomic will receive a cut of the 10% rev share in proportion to nBTC’s composition of the alloy. For example, if nBTC makes up 40% of the allBTC alloy, Nomic will receive 4% of the Osmosis taker fee on that swap.
The accrued rev share fees will periodically be transferred to Nomic as nBTC and paid out according to Nomic’s regular protocol revenue distribution mechanism.
Forum Post:[Hidden link]