Note: This snapshot is posted on behalf of the BIP author, Sync

Summary

This proposal seeks to initiate a one-time buyback and burn of BOTTO from its DEX pools to celebrate Botto's approaching fourth anniversary, in the spirit of the symbolic buyback and burn ritual that was in place at Botto's inception.

Specifically, it is proposed that Botto DAO swap 4 ETH from its treasury holdings for BOTTO instead, an arbitrary yet conservative amount of ETH that numerically corresponds to Botto's fourth birthday, and then burn the associated BOTTO by sending it to the zero address.

At BOTTO's current historically low token price versus ETH, this would result in about 80K to 90K BOTTO being burned, which is roughly the amount of BOTTO that was burned in October 2021 after Botto's launch per Botto's Metrics.

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Specifications:

Swap 4 ETH from Botto DAO's treasury to buy BOTTO from the DEX pools on mainnet and/or Base, and then send the purchased BOTTO to the zero address to be burned.

The swap and burn should be executed as soon as possible by Botto's core team following the approval of the proposal, as applicable.

Note: Snapshot is only a summary, the full BIP in the forum takes precedent.

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📚 Read the full proposal: https://forum.botto.com/d/123-bip-85-one-time-buyback-and-burn-to-celebrate-bottos-4th-anniversary Discussion: https://discord.com/channels/829636834371960842/1424861997412913273