BitDAO

Authors: Alex Gluchowski, Marco Cora, and Zoé Gadsden from Matter Labs & Jon Allen from Mirana Ventures

Highlights: This proposal is intended to promote Ethereum scalability and adoption of zkSync as a Layer2 scaling solution (utilized by dapps, tools, exchanges, etc…)

zkSync will fully decentralize governance of its platform, and open source all development making this the scaling solution most aligned with the crypto community and BitDAO ethos currently being deployed

The team will provide a scaling solution and tools for BitDAO and DAOs in general.

Initial mandate: grants 7.5%, security/audit 7.5%, strategic capital 70%, R&D 5%, education 5%, operations 5%.

Commitment by BitDAO of $200M in various crypto assets across 5 tranches, first tranche being $40M, and subsequent tranches will be released based on achieved milestones and BitDAO governance vote approval.

Commitments from other parties are possible which may lead to dilution of BitDAO partner rights and voting rights in zkDAO. Major dilutions will be approved by the BitDAO representative and BitDAO governance vote.

BitDAO’s interests will be managed by the BitDAO representative, who can be replaced via BitDAO vote.

Why this makes sense for BitDAO: zkSync is likely to be a leader among ETH L2’s and is extremely aligned with BitDAO’s mission to support builders and empower the decentralized community. This partnership enables BitDAO to gain significant exposure to the zkSync ecosystem (via partner rights in zkDAO, and projects on zkSync which will be funded via strategic capital allocation).

Read the full proposal here: https://docs.google.com/document/d/1a5crhI-PDqovcOTtr67XRE_94AU6NR6nP4QfbuB5tKQ/edit?usp=sharing

IPFS link: https://ipfs.infura.io/ipfs/QmQb9SgHmYW3c2At9z4TN6F45twPft9gx581tDPeWEWwAn