Following the passing of BIP-6, we know that we must revisit how the unlocking/governance system of BAO works in accordance with a vote escrow model.
This proposal aims to agree
- A BAO token migration including the necessary supply reduction to implement veBAO and a new emissions model.
- A framework for a new governance model surrounding veBAO
- The distribution function for locked BAO tokens, including flexibility to unlock early, unlock over 3 years or lock straight into veBAO.
- Operational changes that must accompany this proposal.
- Liquidity provider migration and LPs we will initially incentivize in gauges
Full details of the proposal can be found here: https://gov.bao.finance/t/bip-14-token-migration-distribution/1140