Cosmos DAO Osmosis to Adopt Fee-Free Bitcoin Bridge
Decentralized autonomous organization (DAO) Osmosis has voted to adopt a fee-free Bitcoin bridge, enabling Bitcoin to move into the Cosmos ecosystem. This is facilitated through a revenue-sharing agreement with Bitcoin bridge Nomic. The agreement aims to address the issue of revenue generation from deposits and withdrawals in blockchain bridges. It will align Nomic's protocol revenue with the usage of its bridged Bitcoin. The move aims to reduce friction for users bridging their Bitcoin holdings to other ecosystems for decentralized finance (DeFi) activities. The proposal received 95% approval from the Osmosis DAO community. Nomic's bridge is part of a trend to leverage the value in Bitcoin to bring liquidity to the broader digital asset industry.
