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This proposal discusses adding USDT.eth.atom (USDT bridged to Osmosis from Ethereum via the Cosmos Hub's Eureka product) as a constituent of Alloyed USDT with an initial static limit of 20%.

Alloyed USDT

[Hidden link] was recognized as the canonical USDT on Osmosis in [Hidden link].

It currently has around [Hidden link], and consists of:

• USDT.axl (Axelar bridge from Ethereum) (75% Cap)
• USDT.kava (IBC from Kava EVM) (75% Cap)
• USDT.wh (Wormhole bridged from Ethereum) (75% Cap)
• USDT.pica (Picasso bridged from Solana) (40% Cap)
• USDT.inj (Injective Bridge from Ethereum) (75% Cap)
• USDT.rt (Router Bridge) (5% Cap)
• USDT.e.op.axl (Axelar bridge from Ethereum, via Optimism bridge) (20% Cap)
• USDT.e.arb.axl (Axelar bridge from Ethereum, via Arbitrum bridge) (20% Cap)
• USDT.e.matic.axl (Axelar bridge from Ethereum, via Polygon bridge) (20% Cap)

Proposed Change

This proposal requests that USDT.eth.atom be added to the existing USDT Alloy, enabling USDT deposits via Eureka.

This proposal adds an initial static rate limit of 20% (~$200k exposure) to bound risk to Alloyed USDT for a new variant on a newly deployed bridging product. This may be further expanded by governance as adoption grows and transfers occur without incident.

For a complete description of Alloyed Assets, see the [Hidden link]. To view all Alloyed Statistics, see the [Hidden link].

About Eureka

Eureka is the first major interoperability protocol built on IBC v2, a more efficient and transparent solution for cross-chain asset transfers.

Unlike traditional bridges, Eureka allows for permissionless, secure, and cost-effective asset transfers, bringing new liquidity into the Cosmos ecosystem via the Cosmos Hub and facilitating the expansion of multichain applications. Website: [Hidden link]

Forum Post: [Hidden link]

Parameters

Adds [Hidden link] - ibc/7BC2F718C47C0749791F2612A914C8C39D1A4F533A27AF7285D924D4B617DDA6 to [Hidden link] - [Hidden link] with a normalization factor of 1 due to the exponent of 6 which is standard for USDT transfers and verifiable by deposit. Static Limit of 20% to the same denom.