[BIP-8] BOR Token Migration

Dear BoringDAO community!

Today, I would like to present a proposal which I believe is in favour of perfecting BoringDAO in all aspects.

As BoringDAO is smoothly shifting from V2 to V3, numbers of new functions and products have been introduced or will be introduced within a short period. BoringDAO is expending in a steady rate, however, the denomination of a single BOR token is quiet large which affects BOR’s liquidity and is not exactly user-friendly to some extent. Meanwhile, community members have realised that there are some problems exist in centre part of the project which could potentially drag the pace of development of BoringDAO. Today, we would like to offer a solution which we believe is capable of solving the problem.

Problem 1: The initial supply of BOR is only 200,000 which is not helpful for the decentralisation and liquidity of the project and considering the current market price for 1 BOR is over 600 dollars which is not friendly enough to new users.

Problem 2: There are some smart contracts which are not elegant enough in satellite city part. We would love to perfect them for the sake of profession.

Solution The current total supply of BOR token is 200,000 BOR. We would like to issue a new token named ‘BORING’. The total supply is up to community’s votes.

How to do so? BoringDAO will offer BOR holders a smart contract which allows holders to migrate their BOR to BORING Token on both ETH and BSC with no time limit.