Osmosis DAO will adopt Nomic's "fee-free" Bitcoin bridging proposal

According to ChainCatcher, The Block reports that the Osmosis DAO will vote to adopt the "fee-free" Bitcoin bridging proposal of the decentralized bridging protocol Nomic.

Currently, 91.7% of voters support the proposal, which aims to enhance Bitcoin liquidity on the platform by eliminating existing bridging fees.

Nomic allows users to deposit Bitcoin directly into Osmosis to receive its Bitcoin-backed asset nBTC, with the current deposit fee being 1% and the transfer fee being 0.5%.

If the proposal passes, the Bitcoin bridging fees on Osmosis will be waived, but Bitcoin miner fees may still apply.

In exchange, Nomic will receive a portion of the fees from nBTC and its derivatives trading, specifically 10% of the total fees related to nBTC transactions and a proportional share of its derivatives trading fees. Osmosis users will benefit from reduced Bitcoin trading costs and will be able to directly integrate Bitcoin liquidity into the Osmosis ecosystem.