Nomic and Osmosis have partnered to waive Bitcoin bridging fees, following a DAO vote with 99.6% approval. This move aims to enhance Bitcoin liquidity on the Osmosis platform.
This partnership is a landmark in DAO-to-DAO collaborations, potentially revolutionizing revenue models for crypto bridges. Sunny Aggarwal, co-founder of Osmosis, emphasized that the deal aligns both platforms’ interests in maximizing BTC trading volume.
A standout feature is the shared taker fees from trading nBTC or its derivatives on Osmosis, benefiting Nomic. Osmosis users will not incur bridging fees for BTC transactions involving Nomic, enhancing user experience.
Nomic’s nBTC, a Bitcoin-backed asset, is capped at 21 BTC to ensure controlled growth. The protocol charges a 1% deposit fee and a 0.5% IBC transfer fee.
This partnership sets a model for future DAO-to-DAO agreements, fostering an environment where both parties remain profitable while minimizing user fees. The strategic importance lies in its potential to reshape how crypto bridges operate.
