BIP-70: Allocate BOTTO from Community Initiatives Fund for Instant Rewards

Summary

Please note that this Snapshot has a default 72-hour voting window.

BIP-70 proposes allocating BOTTO from the Community Initiatives Fund to continue testing the Instant Rewards feature during Botto's next period. Key details include:

• Allocating 2K BOTTO per week (8K BOTTO per month) for the 12-week period, totaling 24K BOTTO.
• Instant rewards are distributed monthly to voters who stake at least 100 BOTTO and participate in training Botto.
• This allocation accounts for approximately one-third of the Community Initiatives Fund's monthly budget, leaving 17K BOTTO for other initiatives.

The proposal will renew automatically in subsequent periods unless modified or discontinued by the DAO.

Voting Options

This proposal uses basic voting format with the following choices:

1. For: Approve allocating 2K BOTTO per week from the Community Initiatives Fund towards instant rewards for active voters during Botto’s next period.
2. Against: Do not allocate BOTTO for this purpose.

Rationale

The instant rewards feature was well-received in its initial test round, boosting engagement in Botto’s training process. Allocating funds to continue this feature aims to:

• Sustain and increase engagement among voters.
• Provide data-driven insights into active participation trends.
• Ensure a wider distribution of BOTTO tokens through innovative mechanisms.

By utilizing the Community Initiatives Fund, the DAO activates unused portions of the fund for immediate impact, aligning with its goal to foster greater participation.

Proposal Specifications

1. Weekly Allocation:

2K BOTTO from the Community Initiatives Fund distributed weekly as instant rewards.

2. Monthly Distribution:

Rewards are distributed monthly to active voters staking at least 100 BOTTO.

3. Scope and Renewal:

The 12-week initiative spans Botto’s next period, automatically renewing unless altered by a governance proposal.

Criteria for Success

• Increased voter engagement in training Botto.
• Enhanced distribution of BOTTO supply via active rewards.
• Improved insights into how rewards influence participation.

Disadvantages

Allocating 8K BOTTO per month may reduce the fund's availability for other projects. However, the fund retains 17K BOTTO for alternative initiatives.

Please refer to the BIP-70 forum post for full details and discussion.