Proposal #963
Passed on 06 Aug 2025 with 98.7% of the votes for yes.
Yes
98.7%
100.0% without abstain
Veto
0.0%
of votes cast
Ended
06 Aug 2025
98.72%
of votes cast
1.26%
of votes cast
0.02%
of votes cast
0.00%
of votes cast
This proposal would reduce the static limits of WBTC variants within Alloyed BTC on Osmosis.
The goal is to rebalance the Alloyed BTC composition by capping WBTC variant exposure at 95%, reducing reliance on centralized bridges, and encouraging the use of alternatives that may be more direct or decentralized.
This proposal would reduce the caps on WBTC variants within the Alloy to a total of 95%, promoting broader participation from other bridged representatives within the Alloy.
Alloyed BTC was designed to support diverse BTC representations on Osmosis, including decentralized bridges that directly connect to the Bitcoin blockchain. Reducing WBTC’s cap forces the use of alternative representations, potentially increasing the adoption of decentralized alternatives.
As this proposal results in WBTC only being able to represent 95% of the variants, at least 5% must consist of the other representatives, increasing from the current 1%.
| Variant | Current Usage | Current Cap | Proposed Cap |
|---|---|---|---|
| WBTC (native) | 42.5% | 100% | 45% |
| WBTC.eth.axl | 56% | 75% | 40% |
| WBTC.eth.atom | 0.5% | 10% | 10% (unchanged) |
| Total WBTC limit | 99% | 185% | 95% |
These changes would effectively pause inflows for WBTC.eth.axl until alternative bridged representatives like nBTC, cbBTC, or ckBTC make up a higher share of the alloy.
[Hidden link] was recognized as the canonical Bitcoin on Osmosis in [Hidden link].
It currently has around [Hidden link] and consists of:
For a complete description of Alloyed Assets, see the [Hidden link].
To view all Alloyed Statistics, see the [Hidden link].
Forum Post: [Hidden link]