This proposal aims to recognize Eureka as a canonical bridge service provider (BSP) for Osmosis.
Motivation
The primary goal is to give Eureka bridged assets the ability to be listed by their asset symbol without the typical suffixes used for bridged assets when they are the dominant variant of an asset on Osmosis with liquidity. This is particularly relevant when permissionless bridging is used and multiple bridging options are not available, as establishing an Alloyed Asset is not an automated process.
This canonicalization will apply to all assets routed through the Eureka bridge, via the Cosmos Hub, whether through non-Cosmos SDK chains such as Ethereum or Cosmos SDK-based chains like Lombard, and is essential for a more permissionless listing experience that is compatible with interchain routers.
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. By recognizing Eureka as a canonical bridge, Osmosis will further establish itself as the premier decentralized exchange, supporting a wide range of assets with consistent and transparent listing conventions.
Proposal Details
Eureka will be recognized as a canonical bridge service provider for Osmosis, joining Axelar (Proposal 206) and Wormhole (Proposal 582).
Assets arriving on Osmosis via Eureka will be listed without suffixes (e.g., LBTC, not LBTC.lom.atom), provided they are either the first listed variant of the asset or the variant with the most liquidity.
If an alloy exists containing the Eureka asset, adhering to the specifications in Proposal 826, the Alloy will take precedence for canonical labelling, and suffixes will be used for variants within.
Canonical bridge status will apply to the front-end display of assets on Osmosis applications. Previous additional canonical benefits are no longer relevant due to the reduction in incentive emissions, and now focusing solely on a few strategic assets. As well as the improved deposit/withdrawal flow using Skip routing making integration prioritization unnecessary.
References:
Target Onchain Date: 5th May
