Increase DODO Rewards by Reversing of DIP-12 Proposal (Adjustment of Liquidity Mining Incentives on Select Pools)

Motivations

DIP-12 Proposal (Adjustment of Liquidity Mining Incentives on Select Pools) was passed on March 28th in a non-transparent and non-decentralized manner. Only 3% of DODO holders voted, as holders of DODO tokens that were staked were not allowed to vote and there were several technical issues related to the voting cut-off deadline.

Reasons

1. DIP-12 Proposal reduced DODO rewards by 50-70% across various pools and undermines the core purpose of increasing TVL of DODO pools, the fees collected from these pools, and DODO value altogether. There have been outflows since the proposal originated.

2. Holders of staked DODO positions were NOT allowed to vote (SUSHI allows LP Voting). Only a small group of DODO holders voted on the proposal. This violates principals of DAO and undermines the protocol.

3. Less than 3% voted: Only 3M DODO tokens voted toward the proposal out of >100M DODO in total circulation.

Proposal: increase DODO rewards back to original levels

Revert the DIP-12 Proposal and keep the original distribution.

DIP-12: Adjustment of Liquidity Mining Incentives on Select Pools: https://snapshot.org/#/dodobird.eth/proposal/0xc8d5d799132260d14ed28ff8b32ce16fdd5deeda2ee3cb79b54e12580c649c8c