DIP-17 Migration of DODO Tokens to Scroll and Strategic Use of Community Treasury Funds

Summary

This DIP proposes a strategic migration of 2 million DODO tokens to Scroll, a leading zkEVM Layer 2 solution, aiming to leverage its enhanced scalability and performance for DODOX, our most advanced cross-chain DEX aggregator. Concurrently, it proposes allocating $100,000 from the DODO community treasury. This investment is designed to boost trading volumes and user engagement on Scroll, fostering a cycle of growth and sustainability for the community treasury.

Specification

Token Migration:

• Migrate 2 million DODO tokens to the Scroll.
• Purpose: To capitalize on Scroll’s advanced technology for liquidity mining, trading incentives, and other strategic initiatives. Community Treasury Utilization:
• Allocate $100,000 from the community treasury.
• Propose: The fund will be dedicated to a structured ecosystem incentive program on Scroll, with milestones based on TVL and trading volume of LP pairs to ensure the future growth of the community treasury.

Motivation

Strategic Migration to Scroll:

• Innovative zkEVM Technology: Scroll’s native zkEVM closely parallels Ethereum’s EVM, providing seamless integration and compatibility with DODO’s existing infrastructure.
• Enhanced Scalability with Cost-Effectiveness: Scroll significantly boosts transaction speeds and scalability, crucial for DODO’s expanding operations. Concurrently, the platform’s lower transaction costs allow DODO to offer more competitive fees, yielding direct benefits for users.
• Community and Ecosystem Synergies: Scroll’s emphasis on community engagement and open development aligns well with DODO’s values, fostering a collaborative and growth-oriented ecosystem.

Treasury Utilization:

• Active Treasury Engagement: Addressing the previous underutilization of the community treasury to drive growth and add value to the DODO ecosystem.
• Milestone-Based ecosystem incentives: This innovative ecosystem incentive program is designed not just as an expenditure but as a strategic investment, with the goal of recouping and growing the funds invested based on the LP Statistics.

Voting Options

• Approve: Endorse the migration to Scroll and the strategic treasury fund allocation.
• Reject: Disapprove of the proposed strategy. Community members are encouraged to share their insights and suggestions.

Governance Vote

• Voting Period: The voting will commence on November 29th, 2023, at 5:00 PM SGT and will conclude on December 4th, 2023, at 5:00 PM SGT.
• Voting Method: DODO and vDODO token holders can vote via Snapshot, with 1 DODO = 1 vote and 1 vDODO = 100 votes. Voting is gas-free.
• Implementation Threshold: The proposal will proceed if it secures a majority with a minimum of 5M total votes.