BIP-62: Reduce Minimum Staking Requirement for Active Rewards Eligibility

Summary

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

BIP-62 proposes the following:

• Reduce minimum stake quantity for Active Rewards eligibility from 2000 BOTTO to 100 BOTTO
• Reduce minimum claim amount from 0.01ETH to 0.001ETH
• These changes would reflect on any chain BOTTO is present on.

Rationale

As the minimum single-sided staking requirement of BOTTO in the governance contract for active rewards eligibility was initially set at 2000 BOTTO, in USD terms it would have thus cost about $100 for a new user to purchase the requisite amount of BOTTO and stake it to then be incentivized to regularly engage in Botto’s training as an active voter.

To grow Botto DAO and further distribute Botto’s training inputs to advance its progression as a decentralized autonomous artist built on Ethereum, this BIP seeks to reduce the minimum single-sided staking requirement of BOTTO in the governance contract from 2K BOTTO to 100 BOTTO.

This proposed reduction of the minimum single-sided staking requirement is further aligned with recent discussions amongst BottoDAO members to potentially expand Botto’s voting experience to users on Base, a prominent Ethereum L2, which will enable participants to interact with Botto’s underlying contracts at much cheaper transaction costs versus Ethereum mainnet. Accordingly, it is sensible to similarly reduce the minimum BOTTO stake for active rewards eligibility in advance of such a potential integration.

Proposal Specifications

• Reduce minimum stake quantity for Active Rewards eligibility from 2000 BOTTO to 100 BOTTO
• Reduce minimum claim amount from 0.01ETH to 0.001ETH

Budget

N/A

Criteria of Success

• Increased number of BOTTO holders due to the reduction of the minimum staking requirement for active rewards eligibility and the corresponding reduction of the minimum claim amount in ETH from the active rewards contract.

• Increased participation in Botto DAO from the onboarding of a greater number of participants incentivized to regularly train Botto, thus augmenting the distribution of Botto’s training inputs and further reinforcing its progression as a decentralized artist.

• Increased long-term token velocity for BOTTO, as balanced by a greater number of users incentivized to stake and participate in actively training Botto on a regular basis.

Please refer to the BIP-62 forum post for full details and discussion.