Binary Community Governance Vote

We are presenting the community with an initial vote on the path forward regarding redemption.

If there is a majority in favour of this proposal, we will move to a second vote around the redemption mechanics for the community.

Assuming a successful vote, our proposition for BYTE holders is as follows:

1. Users redeem BYTE for treasury assets based on the treasury-backed value

or

2. Users stake BYTE to participate in our rebranded yield aggregator product.

Note: Both options will be irreversible, so please consider your choice carefully.

Below, we will share what needs to be completed to move forward in this manner.

a) We will issue a new token for the rebranded yield aggregator product. b) We will create a staking contract for BYTE holders interested in staying with us, which will offer a significant discount on acquiring the new token.

Note: by default, those who do not actively participate will be considered as choosing the second option but will receive a smaller discount compared to active participants.

Finally, we are very excited to share the upgraded and rebranded product summary:

Our rebranded product will be a yield aggregator that optimizes returns for users by auto-compounding their newly staked tokens. It combines all existing pools into one and generates yields through both passive and active LP strategies. Our LP manager will give monthly updates, as well as a new transparent dashboard.

There are a few Key Utilities of the New Token:

1. Users can stake the new token in the yield aggregator to generate passive income through both active and passive LP strategies.
2. The new token will play an essential role in governing the rebranded product, enabling token holders to participate in decision-making processes.
3. Holding the new token may grant access to exclusive features, benefits, or future projects within the ecosystem. Our team is actively engaging with potential partners to establish collaborations that will provide added value and exclusive opportunities for token holders. These partnerships aim to enhance the overall experience and utility of the token within the ecosystem.
4. The new token is designed to function as a medium of exchange or payment within the ecosystem, broadening its range of use cases. As the ecosystem expands, we will explore various avenues to integrate the token into different services and platforms, enabling users to leverage the token for transactions, fees, and other forms of payment, further enhancing its adoption and utility.

The yield aggregator will operate in two modes: Buyback mode and Bond mode, which are adjusted based on market conditions. This flexibility allows the protocol to support the new token's price, grow the treasury, and maximize returns for stakers.

In conclusion, we are seeking the community's input on this proposed plan. We will initiate a voting process where you can cast your vote to either approve or disapprove of the plan. Your vote will be crucial in determining the future direction of the project and the implementation of the proposed features.

Please participate in the voting process and make your voice heard. The success of this initiative depends on the collective wisdom and support of our valued community members. We appreciate your engagement and continued support as we strive to enhance the project and bring value to all token holders.

Vote now to say "Yes" or "No" to the proposed plan and help shape the future of our ecosystem.