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Injective Protocol Logo

Injective Protocol

#700

FAILED

Enable EVM Mapping for $OYCI Token

Proposal Type: MsgCreateTokenPair

Proposal Contents (*the original text from the proposer)

This proposal creates an ERC20 token pair mapping for the $OYCI token (factory/inj1jdt04erw6jdmh6c939u87kldf3mvvmkedsjp3w/OYCI), enabling seamless interoperability between the Cosmos bank module and the EVM environment.

$OYCI (Oyster Cage Initiative) is a real-world asset token on Injective backed by working oyster aquaculture operations, currently two vessels under operation on the James River. Project details are published at https://oyci.info.

The token has a fixed supply of 1,000,000,000 OYCI (6 decimals) with the token factory admin set to the burn address (inj1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqe2hm49), ensuring no additional tokens can ever be minted and providing immutable supply guarantees. Bank metadata is already set on-chain (name "Oyster Cage Initiative", symbol OYCI, 6 decimals), so the auto-deployed MTS-compliant ERC20 will inherit the correct values.

Because the admin has been permanently renounced, no account is able to submit MsgCreateTokenPair for this denom directly, and governance is the only available path to enable EVM interoperability. This mirrors the precedent set by proposal 594 ($DRUGS), which mapped a token whose minter authority was likewise set to the burn address.

OYCI trades against INJ on Choice Exchange. This mapping will allow $OYCI holders to utilize the token across both native Injective and EVM-compatible applications, and broadens access to an RWA asset within the Injective EVM ecosystem.

Voting Results

Status: Quorum Not Met
(0.00% of the required 33.40%)
Tokens Voted
29,038,234
Yes
3,141,757
10.8%
No
3,984,792
13.7%
No With Veto
3,461
0.0%
Abstain
21,908,225
75.4%

Vox Populi

Community discussions related to the proposal.

There do not appear to be any discussions on this proposal at this time.