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[Feature]: Taker Fee non-OSMO revenue on separate whitelist to Quote Assets #7984

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JohnnyWyles opened this issue Apr 8, 2024 · 0 comments
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Summary

The community pool currently swaps assets to the default denom (USDC) that we may want to maintain in the community pool but may not want to have as quote assets.
By separating these two lists we are able to both restrict Quote assets to a lower set as well as collect a more diverse range of blue chip tokens to the community pool.

Problem Definition

Osmosis collects a wide range of taker fees, which are then swapped for a default asset, currently USDC, if they are not on a whitelist. This whitelist currently includes the Quote assets for supercharged pools.
We deliberately keep the list of Quote assets small to minimize routing calculations, but this restricts the taker fees that the community pool can accumulate. These should not be linked.

By separating these, we can acquire such assets as:

  • LSTs such as stATOM, wstETH, stTIA, and milkTIA that the native denom is currently approved
  • Other top-ranked tokens, such as SOL, AVAX, ARB, etc., can then be used to increase trading liquidity in these key markets.

Proposed Feature

Currently, there is a check that a denom is in the whitelist here:
https://github.com/osmosis-labs/osmosis/blob/main/x/txfees/keeper/hooks.go#L144
This uses the authorizedQuoteDenoms store, which was fine for launch, but should be maintained as a separate list as these are two different samples.

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