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[FEES/DAO] Conversion of BIM Exchange Fees into CRVUSD on the Polygon Blockchain

Voting ended over 1 year agoSucceeded

Summary of the Proposal: This proposal aims to convert all fees generated by BIM Exchange into CRVUSD on the Polygon blockchain each month. Given that the BIM Finance protocol operates on 7 EVM blockchains, the proposal suggests converting the fees collected from various blockchains into CRVUSD on Polygon at the beginning of each month and transferring them to the treasury at this address: 0x115A40E5F42a9369797643a65220411C533da38c. The stablecoin CRVUSD was selected by the DAO in the following vote: Snapshot Vote.

Context: The BIM Finance protocol operates across seven EVM-compatible blockchains. To streamline the management of fees and ensure stability, the DAO previously voted to select CRVUSD as the stablecoin for holding the fees. This proposal outlines the specific process for converting and consolidating these fees into CRVUSD on the Polygon blockchain.

Proposal Details:

  • At the beginning of each month, all fees generated on the different blockchains where BIM Exchange operates will be converted into CRVUSD.

  • These CRVUSD tokens will be transferred to the treasury address on the Polygon blockchain: 0x115A40E5F42a9369797643a65220411C533da38c.

  • This ensures a consistent and stable storage of fees, enhancing financial management and transparency within the DAO.

Voting Options:

  • Yes: Approve the conversion of all fees into CRVUSD on the Polygon blockchain each month and transfer them to the treasury address.
  • No: Reject the conversion of all fees into CRVUSD on the Polygon blockchain.

Voting Process: BIM token holders are invited to vote for one of three options. The vote will determine BIM Finance's development strategy

Voting Instructions:

  • Connect to the voting platform using your wallet.
  • Select the proposal regarding the opening of vote submissions.
  • Choose the option that you believe best aligns with the vision and strategic objectives of BIM Protocol
  • Confirm your vote.

Voting Period: Voting will begin on [16/07/2024] and conclude on [19/07/2024]

We encourage every member of the BIM Protocol community to participate in this crucial vote. Your voice will guide the future of our platform and strengthen our position in the blockchain ecosystem.

Off-Chain Vote

YES
2.4M BIM100%
NO
1.84 BIM0%
ABSTAIN
241.78 BIM0%
Download mobile app to vote

Discussion

BIM[FEES/DAO] Conversion of BIM Exchange Fees into CRVUSD on the Polygon Blockchain

Timeline

Jul 15, 2024Proposal created
Jul 16, 2024Proposal vote started
Jul 19, 2024Proposal vote ended
Jul 19, 2024Proposal updated