JunoSwap Signaling Proposal: Allow permissionless listing of bridged assets from Sifchain’s Peggy bridge

This is a basic signaling proposal to all JUNO stakers for them to signal their support for or dissent against allowing the permissionless listing of Sifchain’s bridged peggy assets on JunoSwap.

This proposal is being put on chain for all JUNO stakers to vote on after an 8 day long discussion period in the commonwealth and in lieu of official governance mechanisms on JunoSwap DAO, which are expected to launch alongside the RAW airdrop.

Summary: By voting “yes” on this proposal, Juno stakers signal their support for allowing tokens from Sifchain’s peggy bridge to be listed on JunoSwap.

By voting “no” on this proposal, Juno stakers signal their dissent against allowing tokens from Sifchain’s peggy bridge to be listed on JunoSwap.

Context: Sifchain’s recent Magnolia upgrade has made ERC20 tokens from Sifchain’s peggy bridge IBC compatible. This makes it possible to transfer ETH or any ERC20 token from Peggy to JunoSwap, enabling such pairs as JUNO:ETH and JUNO:RNDR.

In the very near future, Sifchain will soon upgrade peggy to Omni-EVM, which will enable quick deployment of EVM bridges, and enable token pairs on JunoSwap such as JUNO:NEAR and JUNO:SOL.

Benefits: Enabling assets from different, secure bridges, ensures that users of JunoSwap will not be limited by the token-selection of only one bridge. This is relevant because many innovative bridge solutions will launch in Cosmos, and being limited to only one bridge will reduce the amount of assets that can be swapped on JunoSwap – thus sending users elsewhere to make swaps.



While it has been argued by other DEXes that this makes UX unpleasant, there are many work arounds to this. For example, truly permissionless listings for all assets have not stopped UniSwap from achieving over $10B in TVL. Improvements to UX are as simple as implementing a manage-tokens toggle (appended below). 



If this Proposal Passes: The community supports the permissionless listing of assets that come from Sifchain’s Peggy bridge.

Additional Information

: In order to ensure that conflicts-of-interest do not play a role in the outcomes of this proposal, we would encourage any validators that have a vested interest in the success of another bridge and choose to vote to:



a) state their biases 
b) abstain

Appendix: Sifchain Audits: https://drive.google.com/drive/u/1/folders/1kkjdpNuRmTjaiIKA6CQISavCvj4Awpbc

Uniswap UX Flow: https://docs.google.com/document/d/1JrjhvAVZwa5jxNeBvOKIfSIY2i1sJyf1yaN-s5yUJ64/edit?usp=sharing