Botto

Summary

Please note that this Snapshot has a default 72-hour voting window.

BIP-68 proposes locking 20% of Botto DAO’s Protocol Owned Liquidity (POL) for one year to support BOTTO liquidity as a public good. This includes:

• 10% POL on Base using the UNCX liquidity locker.
• 10% POL on Ethereum mainnet using the UNCX liquidity locker.

The proposal will renew annually unless voted against in the future. Locked liquidity will remain tradable but cannot be withdrawn during the lock period, enhancing trust, stability, and market confidence.

Voting Options

This proposal uses basic voting format with the following choices:

1. For: Approve time locking 20% of POL (10% on Base, 10% on Ethereum) for one year with automatic annual renewal.
2. Against: Do not implement time locked liquidity.

Rationale

Time locked liquidity reinforces governance minimization, boosts market confidence, and increases visibility on Botto’s liquidity strategy through platforms like DEX Tools. It aligns with the DAO’s decentralization goals while ensuring stable trading liquidity.

Proposal Specifications

1. Initial Time Locks:

• Lock 10% of the treasury’s POL migrated to Base (per BIP-63) for one year in the Uniswap V2 pool using the UNCX liquidity locker.
• Lock 10% of the treasury’s POL on Ethereum mainnet for one year in the Uniswap V2 pool using the UNCX liquidity locker.

2. Visibility:

• The use of UNCX liquidity lockers ensures locked liquidity is highlighted on token trackers like DEX Tools, increasing visibility for potential Botto holders.

3. Duration and Renewal:

• Locks will last one year.
• After the first year, locks will automatically renew yearly unless modified or discontinued via a governance proposal.

4. Incremental Additions:

• Increases in POL from BIP-59 will be added to the Ethereum mainnet time locked liquidity at the end of the first year.
• Additional POL increases from BIP-59 will be added incrementally on a monthly basis in subsequent years, assuming automatic renewal.

Criteria of Success

• Improved trust and market confidence in BOTTO.
• Enhanced visibility of locked liquidity through token trackers.
• Growth in crypto user acquisition and increased trading and liquidity providing activity.

Please refer to the BIP-68 forum post for full details and discussion.