• The Liquidity Mining program was a proven success with adding over $10,000,000 of liquidity to the BAT pool. We saw several large whales join the Bancor Protocol due to this proposal.

• The program also allowed Bancor's BAT pool to have the deepest liquidity pool for BAT compared to all DEX. See below for a recent snapshot comparison. Current depth on BNT is $15,000,000+.

• By adding the LM rewards, we also saw fees increase significantly. More volume has moved to the BNT protocol.

Justification

It is clear that the LM reward program on BAT was a success. We grew liquidity and fees increased, as this program is intended to do.

The reasoning to extend LM on BAT is to retain this liquidity. If we do not extend LM, there are higher yielding platforms for the BAT holders to move their funds to. We will lose a significant amount of the liquidity we gained and fees will go down.

Vote FOR to extend LM on BAT for an additional 12 weeks. Vote AGAINST to not re-new LM on BAT.