Note: This snapshot votes only on Part E of the full "BIP-83: A Holistic Update to Botto’s Economy". There are 6 total votes for BIP-83, see the other votes on the main snapshot page.

Summary

This proposal would change rewards to be distributed as $BOTTO instead of ETH, funded by using the ETH rewards to buy $BOTTO on the open market.

Distributing rewards denominated in $BOTTO is a simple shift to making the default action to compound one’s stake in Botto, receiving greater say for a successful work. This emphasizes long-term alignment with Botto, while everyone is still free to sell their reward. This also makes the flywheel between art sales and $BOTTO token more direct.

We will assess this change primarily based on change in staked amounts for contributors, and generally the reception of the new rewards narrative based on sentiment and token volume.

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Specifications:

• Starting in the next round after this BIP is officially passed, rewards would be paid in $BOTTO, acquired using 50% of revenue to buy back $BOTTO on DEX.
• To prevent front running, the DAO will employ a mix of strategies for buy backs, and will use existing treasury tokens to payout the rewards.
• $BOTTO reward calculations will be conducted on the day of sale using the prevailing market rate.
• Before the start of the new period, the Treasury Working Group will ensure that all buybacks are complete.

This will not affect pre-existing accumulated ETH rewards.

Note: Snapshot is only a summary, the full BIP in the forum takes precedent.

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📚 Read the full proposal: https://forum.botto.com/d/120-bip-83-a-holistic-update-to-bottos-economy Discussion of holistic proposal: https://discord.com/channels/829636834371960842/1418629635100643358 Discussion of Part E: https://discord.com/channels/829636834371960842/1418598544935227493