ChainCatcher reported that according to The Block, Osmosis DAO will vote to adopt the "fee-free" Bitcoin bridge proposal using the decentralized bridge protocol Nomic.
Currently, 91.7% of voters support the proposal, which aims to enhance Bitcoin liquidity on the platform by eliminating existing bridge fees.
Nomic allows users to deposit Bitcoin directly into Osmosis to obtain its Bitcoin-backed asset nBTC, with an existing deposit fee of 1% and a transfer fee of 0.5%.
If the proposal passes, Bitcoin bridge fees on Osmosis will be waived, but Bitcoin mining fees may still be charged.
In exchange, Nomic will receive a portion of the fees from nBTC and its derivatives transactions, specifically 10% of the total fees for nBTC-related transactions and a proportional share of the fees for its derivatives transactions. Osmosis users will therefore benefit from reduced Bitcoin transaction costs and be able to directly integrate Bitcoin liquidity into the Osmosis ecosystem.
