TechFlow news: The Osmosis DAO will vote on adopting Nomic's fee-free Bitcoin bridging proposal, a decentralized bridging protocol.
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 nBTC, a Bitcoin-backed asset. Currently, there is a 1% deposit fee and a 0.5% transfer fee.
If the proposal passes, Bitcoin bridging fees on Osmosis will be waived, although Bitcoin miner fees may still apply.
In exchange, Nomic will receive a portion of the transaction fees generated from nBTC and its derivatives—specifically, 10% of total fees from nBTC-related transactions and a proportional share of derivative trading fees. Osmosis users will benefit from reduced Bitcoin transaction costs and gain the ability to directly integrate Bitcoin liquidity into the Osmosis ecosystem.
