VOTE#7. Improving Minto Mechanics and Creating a Treasury

Due to the evolution of the Minto protocol and technology stack, we are offering you a set of solutions that, if supported, will be added to the project development plan for 2024: 1/ Improving the reward distribution mechanics 2/ Creation of a Treasury and its joint management according to the DAO principles (Read the full version with details and examples here: https://www.minto.finance/blog/article/vote-7-improving-minto-mechanics-and-creating-a-treasury-ahead-of-btc-halving)

Why are we proposing this? We consider it necessary to prepare the Minto project for halving in order to minimize its negative impact on the income of $BTCMT holders With the current mechanics of mining rewards' accrual, the project does not have flexibility in decision-making and is subject to significant risks in negative market conditions As the Minto project develops, it becomes harder for users to objectively perceive information about the $BTCMT and the project as a whole

What will change and what are the benefits? We propose to divide the process of mining rewards’ distribution into two parts, where the reward is pegged to the token standard 1 BTCMT = 0.01 TH/s, and the retained earnings are sent to the Treasury for further joint management using voting on the Governance portal.

The most energy-efficient and modern project hardware will be reserved for customers (CEE ~30-35 W/TH), which will allow us to switch it to the 100% uptime mode, and the energy efficiency of the remaining capacities will be provided on a residual basis and gradually brought to the project’s target level of average energy efficiency (AEE ~35-40 W/TH).

The target value of the project's hashrate for the next year is assumed to be 200,000 TH/s.

The update of the project's targets will take place as part of the voting on the Governance portal.

Improving the energy efficiency of hardware from 53.5 W/TH to 30-35 W/TH and switching it to the 100% uptime mode will provide higher profitability for each customer, and will also allow Minto to become one of the world leaders in terms of energy efficiency, since the average energy efficiency in the world as of the end of 2023 is 32.22 W/TH

How will it work? Step 1. Before 30/12/2023 00:00 (UTC+00) we plan to:

• Add 26,000 TH/s of hashrate (5,000 TH/s of which have already been added on December 1, 2023)
• Update the indicators in the website's Stats section and add the Customer Energy Efficiency (CEE) indicator
• Create a temporary Treasury on the BNB chain until the main Treasury is deployed on the Ethereum network Step 2. Between 15/01/2024 and 31/01/2024 we plan to:
• Initiate a vote and switch customer’s hashrate to 100% uptime
• Add information about Treasury, Active customer’s hashrate, etc. in the website's Stats section
• Provide documentation describing the Treasury's management mechanics Step 3 Before 16/02/2024 we plan to:
• Update the documentation, including the Whitepaper, guides, and the monthly reporting form subject to community approval.
• Introduce new mechanics for buying tokens through the website
• Provide an adjusted plan for 2024 in line with the targets
• Deploy the Treasury on the Ethereum network

What is required for this to work? Voting on the blockchain will take place @ https://vote.minto.finance/#/ Voting period: 20/12/2023 to 22/12/2023 18:00 PM UTC(+00).

Over 51% "YES" votes are required to implement changes. If over 51% of the votes are "YES" votes, the changes will come into force on 22/12/2023 and we’ll begin to implement the scenario described in the “How will it work?” section.

The weight of your vote will be proportionate to the number of tokens you own. You’ll be able to vote even if your tokens are currently on staking and autofarm smart contracts. Connect your wallet, choose an option and vote.

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