PANews, September 10: Osmosis, a DEX in the Cosmos ecosystem, announced that a proposal to restore reserve backing for Alloyed BTC has officially been posted on the governance forum for discussion. The proposal suggests using governance voting to confiscate 22.65 BTC previously frozen in the attacker’s address via an emergency on-chain upgrade, and to utilize the accumulated BTC reserves from Osmosis’s community pool to cover the remaining shortfall of approximately 17.19 BTC, thereby ensuring full backing of Alloyed BTC’s underlying assets.
Cosmos DEX Osmosis Proposes Using Community Pool and Seized BTC to Restore the allBTC Peg
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Summary
BTC news today: Cosmos DEX Osmosis has proposed using seized BTC and community pool funds to restore the allBTC peg. The plan involves allocating 22.65 BTC from attacker addresses and adding 17.19 BTC from the community pool to cover the shortfall. The proposal was posted on the Osmosis governance forum. This BTC update follows an emergency chain upgrade that froze the attacker’s assets.
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