This proposal would add ckDOGE as a constituent of Alloyed DOGE with an initial static limit of 20%.
Alloyed DOGE
Alloyed DOGE is the canonical DOGE on Osmosis, following the approval criteria in Proposal 826.
The alloy currently contains around $520k of liquidity and consists of DOGE.int3 alone.
This proposal requests that ckDOGE be added to the existing DOGE Alloy, enabling DOGE deposits via the ICP bridge.
This proposal adds an initial static rate limit of 20% to bound risk to Alloyed DOGE for a new variant. This limit is set to the same proportion as the current 20% cap of ckBTC on the Alloyed BTC. However, the overall asset exposure is much lower, and if approached, Osmosis governance can review this static cap.
For a complete description of Alloyed Assets, see the Blog Post
About Omnity
Omnity is a trustless omnichain hub that can connect any Layer 1(L1), Layer 2 (L2), or Layer 3 (L3) blockchain. Leveraging the Internet Computer’s Chain Fusion and Omnity’s modified IBC technology, Omnity provides a secure, trustless, and highly scalable multi-chain hub with a 100% on-chain tech stack, enabling continuous interactions across diverse blockchain ecosystems.
About the Internet Computer and ckBTC
The Internet Computer (ICP) is a groundbreaking blockchain platform supporting secure, scalable, decentralized applications. ICP offers a scalable, secure and cross-chain solution. Its Chain Fusion technology integrates Bitcoin directly into the network via ckBTC, allowing ICP smart contracts to read and write directly to the Bitcoin network. Chain Fusion enables secure, trustless asset transfers and an exceptional user experience.
Target Onchain Date: 29th January 2025