This proposal discusses adding USDT.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
Alloyed USDT was recognized as the canonical USDT on Osmosis in Proposal 792.
It currently has around 1 million in supply on Osmosis, 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.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 Blog Post.
To view all Alloyed Statistics, see the Alloyed Dashboard.
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: https://cosmos.network/ibc-eureka/
Target Onchain Date : 5th May 2025