This proposal seeks to approve team discretion to distribute up to 30,000 BMX across 12 weeks to any BMX product.

Based on a variety of factors, including volume, liquidity, fees generated, and key performance indicators. Distribution amounts can vary from week to week and are not required to be distributed linearly.

Once a week, communications on amounts and locations distributed will be published for transparency. All BMX will be directed to products; no BMX will be directed to an individual or entity directly, to be very clear.

Note: “up to” indicates approval for a maximum amount without demanding all 30,000 BMX must be used.

Background:

After extensive consideration and analysis, defining the incentive program by product and/or pool introduces barriers and friction, while increasing the likelihood of inefficiently used incentives. Having a more fluid, dynamic, and open incentive campaign will enable retrospective distribution and forward-looking flexibility.