BIP-14: Botto's 2nd Period

Voting ended over 3 years agoSucceeded

Summary

BIP-14 covers all major changes and updates related to the Second Period. This proposal is based on discussions that have taken place on the governance forum and the Discord.

Please refer to the BIP-14 forum post for full details and discussion.

Specifications

1. Art

Art Engine:

Stable Diffusion (SD) is incorporated into Botto’s Art Engine
SD competes vs VQGAN + CLIP (Models compete in the art engine)
Botto autonomously creates artworks of varying aspect ratios (artwork format)
Voting pool rebalances based on voters’ model preference
Voting pool artworks rebalance based on voters’ preference on artwork format
Art Engine models are discontinued if less than 10% VP is spent on the model artworks in any given round
Raw Score is calculated after 10 views

Period Format:

12 Week Period
1050 Artworks in Voting Pool
Manifold contracts used
Artworks auctioned on SuperRare
Rounds follow same weekly format as before

Period Key Dates:

November 1st 15:00CEST / 09:00ET / 06:00PT: 2nd Period Starts (only the first voting round will be 2 weeks)
November 15th 22:00CEST / 16:00ET / 13:00PT: First round ends November 15th: 1st Mint
January 31st: 12th Mint (last artwork of period)

2. Economy

Voters can earn through:

Spending VP (Incentivized Onboarding Contract)*
Spending VP every week (Active Rewards Contract)**
Emissions (Governance & Liquidity Mining Contract)
Social Rewards (Retroactive rewards voted on by the DAO)**

Requires an Access Pass or staked $BOTTO in the governance contract. ** Requires a minimum of 2,000 $BOTTO staked in the governance contract.

Protocol ETH revenue is distributed each round:

25% to Active Rewards Contract
25% reserved for Retroactive Rewards
50% to DAO treasury, with equivalent of 20% of revenue in $BOTTO burned

Incentivized Onboarding is subsidized by the treasury:

Initial budget of 1,000,000 $BOTTO
DAO can choose to top up or adjust parameters

Voting Points changes:

VP generates linearly according to how much $BOTTO you have staked
VP Slider has no theoretical upper range (you can set how much VP you spend on each artwork)
The DAO may elect to change parameters of the economy throughout the period if it finds more optimal methods.

Off-Chain Vote

Approve

3.43M BOTTO100%

Reject

0 BOTTO0%

Quorum:686%

Download mobile app to vote

Discussion

BIP-14: Botto's 2nd Period

Timeline

Oct 21, 2022Proposal created

Oct 21, 2022Proposal vote started

Oct 24, 2022Proposal vote ended

Feb 03, 2026Proposal updated

Specifications

1. Art

Art Engine:

Stable Diffusion (SD) is incorporated into Botto’s Art Engine

SD competes vs VQGAN + CLIP (Models compete in the art engine)

Botto autonomously creates artworks of varying aspect ratios (artwork format)

Voting pool rebalances based on voters’ model preference

Voting pool artworks rebalance based on voters’ preference on artwork format

Art Engine models are discontinued if less than 10% VP is spent on the model artworks in any given round

Raw Score is calculated after 10 views

Period Format:

12 Week Period

1050 Artworks in Voting Pool

Manifold contracts used

Artworks auctioned on SuperRare

Rounds follow same weekly format as before

Period Key Dates:

November 1st 15:00CEST / 09:00ET / 06:00PT: 2nd Period Starts (only the first voting round will be 2 weeks)

November 15th 22:00CEST / 16:00ET / 13:00PT: First round ends November 15th: 1st Mint

January 31st: 12th Mint (last artwork of period)

2. Economy

Voters can earn through:

Spending VP (Incentivized Onboarding Contract)*

Spending VP every week (Active Rewards Contract)**

Emissions (Governance & Liquidity Mining Contract)

Social Rewards (Retroactive rewards voted on by the DAO)**

Requires an Access Pass or staked $BOTTO in the governance contract. ** Requires a minimum of 2,000 $BOTTO staked in the governance contract.

Protocol ETH revenue is distributed each round:

25% to Active Rewards Contract

25% reserved for Retroactive Rewards

50% to DAO treasury, with equivalent of 20% of revenue in $BOTTO burned

Incentivized Onboarding is subsidized by the treasury:

Initial budget of 1,000,000 $BOTTO

DAO can choose to top up or adjust parameters

Voting Points changes:

VP generates linearly according to how much $BOTTO you have staked

VP Slider has no theoretical upper range (you can set how much VP you spend on each artwork)

The DAO may elect to change parameters of the economy throughout the period if it finds more optimal methods.