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BoringDAOBoringDAOby0x948664756c2ad05DD8fA5B1BC34fa742B44086D70x9486…86D7

[BIP-12] Governance Rules Update

Voting ended over 4 years agoSucceeded

This proposal seeks to expand governance rules and make some adjustments to the current voting weights. Our latest collaboration with Sunder Protocol will allow BoringDAO users to extract the full value of governance tokens. With this, community users can participate in governance while earning yield in an efficient manner.

In particular, 1 BORING will become 1 eToken (income token) + 1 dToken (governance token), and both BORING and dToken will have voting rights. Participants can redeem BORING back at any time by combining their dTokens & eTokens at a 1:1 ratio. Therefore, we propose to adjust the current voting weights to further include dTokens issued by Sunder Protocol.

Specifications: The new governance: voting weights = BORING token balance x 50% + (total pledged BORING balance in oBTC, oLTC, and oDoge Tunnels + Tunnel unlocked BORING balance + Tunnel locked BORING balance + total staked BORING balance in Farm + dTokens issued by Sunder Protocol) x 100%

For example, if you have 10 dTokens issued by Sunder Protocol and pledged 10 BORING in the oBTC Tunnel. In this situation, you have a BORING voting weight of 20.

If the new governance rule is adopted, dToken holders/community will be able to share their voice and engage in governance participation. Users who Sunder BORING can keep their voting rights while enjoying yield aggregation revenue.

Off-Chain Vote

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9.01M 100%
Against
0 0%
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Timeline

Oct 27, 2021Proposal created
Oct 27, 2021Proposal vote started
Oct 30, 2021Proposal vote ended
Oct 26, 2023Proposal updated