Botto

Summary

BIP-14 covers all major changes and updates related to the Second Period. This proposal is based on discussions that have taken place on the governance forum and the Discord.

Please refer to the BIP-14 forum post for full details and discussion.

Specifications

1. Art

Art Engine:

• Stable Diffusion (SD) is incorporated into Botto’s Art Engine
• SD competes vs VQGAN + CLIP (Models compete in the art engine)
• Botto autonomously creates artworks of varying aspect ratios (artwork format)
• Voting pool rebalances based on voters’ model preference
• Voting pool artworks rebalance based on voters’ preference on artwork format
• Art Engine models are discontinued if less than 10% VP is spent on the model artworks in any given round
• Raw Score is calculated after 10 views

Period Format:

• 12 Week Period
• 1050 Artworks in Voting Pool
• Manifold contracts used
• Artworks auctioned on SuperRare
• Rounds follow same weekly format as before

Period Key Dates:

• November 1st 15:00CEST / 09:00ET / 06:00PT: 2nd Period Starts (only the first voting round will be 2 weeks)
• November 15th 22:00CEST / 16:00ET / 13:00PT: First round ends November 15th: 1st Mint
• January 31st: 12th Mint (last artwork of period)

2. Economy

Voters can earn through:

• Spending VP (Incentivized Onboarding Contract)*
• Spending VP every week (Active Rewards Contract)**
• Emissions (Governance & Liquidity Mining Contract)
• Social Rewards (Retroactive rewards voted on by the DAO)**

• Requires an Access Pass or staked $BOTTO in the governance contract. ** Requires a minimum of 2,000 $BOTTO staked in the governance contract.

Protocol ETH revenue is distributed each round:

• 25% to Active Rewards Contract
• 25% reserved for Retroactive Rewards
• 50% to DAO treasury, with equivalent of 20% of revenue in $BOTTO burned

Incentivized Onboarding is subsidized by the treasury:

• Initial budget of 1,000,000 $BOTTO
• DAO can choose to top up or adjust parameters

Voting Points changes:

• VP generates linearly according to how much $BOTTO you have staked
• VP Slider has no theoretical upper range (you can set how much VP you spend on each artwork)
• The DAO may elect to change parameters of the economy throughout the period if it finds more optimal methods.