Nomic and Osmosis have waived BTC bridging fees in a landmark DAO-to-DAO partnership. The collaboration, supported by Osmosis co-founder Sunny Aggarwal, is set to revolutionize revenue models for crypto bridges.
Historically, this is one of the first significant agreements where two DAOs align to reduce user fees and maximize BTC trading volume on Osmosis. A standout feature is the fee-sharing model, where Nomic receives a share of taker fees from trades involving their Bitcoin-backed asset, nBTC.
Currently, Nomic limits capacity to 21 BTC, charges a 1% deposit fee, and imposes a 0.5% IBC transfer fee. Osmosis’s taker fees include 10% allocated to Nomic for nBTC trades. This strategic partnership aims to foster long-term profitability while minimizing user costs.
By waiving bridging fees and implementing IBC middleware to control nBTC transfers, the proposal aligns incentives and paves the way for future DAO collaborations. This marks a significant milestone, showing the potential for cooperative revenue models in the crypto ecosystem.
