Botto

Note: Snapshot is only a summary and may leave ambiguities that are covered in the full BIP in the forum which takes precedent.

Summary

This BIP proposes to swap up to 50 ETH from Botto DAO’s treasury to buy $BOTTO from the DEX pools on mainnet and/or Base in order to replenish the DAO’s $BOTTO reserves. This replenishment ensures the DAO has sufficient tokens to fund future initiatives, reward systems, and strategic programs.

Proposal Specification

• Purchase up to 50 ETH of $BOTTO from open market
• The swap will be executed at the discretion of Botto’s core team following the approval of the proposal, as applicable.
• For transparency, Botto’s core team will announce after partial swaps have been completed, until the 50 ETH total has been utilized.

Note: The 50 ETH may also/alternatively be used by Botto’s core team to help secure Tier 1 CEX listing(s), in alignment with the recent approval of BIP-83 ©.

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Criteria of Success

• More visibility for Botto thanks to the DAO’s reinforced skin in the game via its bolstered BOTTO reserves.
• Increased operational funding flexibility with greater BOTTO holdings in capitalizing on low BOTTO price.

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Disadvantages/Risks

• Opportunity cost of allocated funds.

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📚 Read the full discussion on the forum: