Original Post: Commonwealth
This proposal is the writeup from the discussion here: Commonwealth
Long discussion time because this wouldn’t be implemented until v16 anyway.
This proposal defines standards that make a token acceptable for inclusion in the fee token whitelist as well as performing the first review to these standards. This whitelist should be frequently reviewed in order to ensure that new users of Osmosis are able to pay gas fees for their first transaction.
Transaction fees on Osmosis have been payable in assets other than OSMO since v5. This is managed by the txfee module which specifies a denom to be accepted and an OSMO pool to use as a spot price for the quantity of that denom to accept. Any transaction fees paid in these denoms are collected in the module address and converted into OSMO for distribution to stakers at epoch.
This whitelist was initially set as all OSMO paired tokens with usable liquidity on 1st December 2021. Since this point there have been many new tokens listed on Osmosis that fees could be paid in, enabling new users to fund the transaction fee for their first trade on the chain. This becomes more important with the minimum fee requirement from Proposal 354 being implemented in v15.
As tokens used for fees are converted to OSMO at epoch, all tokens with sufficient liquidity to perform this swap should be suitable for use as fees to minimise the incidence of first-time users being without a usable fee token. These pools should be consistent, and trusted by Osmosis Governance to be consistently liquid.
- An OSMO pool containing at least 5000 paired OSMO of liquidity.
- That has maintained this liquidity for at least 30 days.
- A maximum Swap Fee on this pool of 0.5%
This proposal does not indicate a requirement for for all tokens possible to be added or removed in order to keep maintenance manageable as the number of tokens listed increases. Any suggested token in the discussion period for a review proposal that meets these criteria should be included in the review proposal.
According to these criteria this proposal makes the following changes to the whitelist resulting in 94 tokens being able to be used for gas fees on Osmosis.
Full Details on Pools here: Transaction Fee Whitelist - Google Sheets
Target on-chain date: 13th July 2023