PGOV and BGOV Token Buyout

Summary

BGOV and PGOV are bought out using newly minted BZRX and BZRX takes full control of the bZx Protocol on all chains.

Proposal

This proposal entails using freshly minted BZRX to buy out the GOV tokens. This buyout will result in BZRX holders taking control of the protocols on both Polygon and BSC. The buyout rate will be 1 BZRX per 19 GOV tokens. This will cost 23 million BZRX and will be financed using newly minted supply instead of the treasury supply. The 25 million PGOV that is held in the treasury on Polygon will be assumed into the Treasury. The fees generated on the chains will now flow to BZRX holders and all voting for changes will be done using BZRX.

Proposal Details

Further details on the proposal can be found on the forum post for it at: https://forum.bzx.network/t/bzrx-pgov-bgov-token-buyback/423