BYTE Redemption Plan

Dear BYTE holders,

We are presenting a voting opportunity for you to decide on the redemption plan for BYTE tokens. This vote will determine the method for counting redeemable BYTE tokens and instructions of the overall redemption process. Your participation is crucial in ensuring a fair and transparent outcome that represents the interests of the entire community.

Please review the following redemption plan, treasury data, and the four options for counting redeemable BYTE tokens. The chosen option will be incorporated into the redemption plan.

Detailed Redemption Plan:

We are going to establish a 7-day redemption window, during which BYTE holders can choose their preferred option and redeem their tokens. The start and end dates will be announced soon after this voting.

Treasury currently consists of:

5,280,507.00 USDT 1,670,091.00 USDC 999,087.37 DAI 1,234,985.00 HUM 30.62 WETH 156,037.00 NETT 789.00 METIS

Review current treasury address in https://debank.com/profile/0x7857932dc0b8bc771f47586c224c0290e2dae02c?chain=metis

The total supply of BYTE tokens is 3,520,698.93, with 336,194.54 BYTE in treasury and 126,349.9397 BYTE unlocked from the old team.

4 options are provided for counting redeemable BYTE:

a) Total Supply b) Total Supply minus Old Team Locked Tokens c) Total Supply minus BYTE in Treasury d) Total Supply minus Old Team Locked Tokens and BYTE in Treasury

Explanation for 4 options

Option (a) - Total Supply: This option considers the entire supply of BYTE tokens (3,520,698.93) for redemption. All BYTE tokens, including those locked or held in the treasury, will be counted as redeemable. This method may result in a lower redemption value per BYTE, as it includes all tokens in the calculation. However, it will be the most beneficial option for users who want to participate in the next stage, as it provides a larger pool of tokens for distribution and a more inclusive approach for the community.

Option (b) - Total Supply minus Old Team Locked Tokens: In this option, the locked BYTE tokens allocated to the old team (480,393 - 126,349.9397 = 354,043.0603) are excluded from the total supply, making the redeemable BYTE supply equal to 3,166,655.8697. This results in a higher redemption value per BYTE compared to option (a), as locked tokens are not factored into the calculation.

Option (c) - Total Supply minus BYTE in Treasury: This option subtracts the BYTE tokens held in the treasury (336,194.54) from the total supply, resulting in a redeemable BYTE supply of 3,184,504.39. This method increases the redemption value per BYTE compared to option (a) since the treasury-held tokens are not considered.

Option (d) - Total Supply minus Old Team Locked Tokens and BYTE in Treasury: In this option, both the locked BYTE tokens allocated to the old team (354,043.0603) and the BYTE tokens held in the treasury (336,194.54) are excluded from the total supply. The redeemable BYTE supply is calculated as 2,830,461.3297, which results in the highest redemption value per BYTE among all options, as it excludes both locked and treasury-held tokens.

Overview data sheet:

The redemption process will allow BYTE holders to redeem their tokens for a set of assets based on their share of redeemable BYTE without considering the token prices. This method ensures a fair distribution of the treasury's assets to the BYTE holders.

Voting Instructions:

1. Review the redemption plan, treasury data, and the four options for counting redeemable BYTE tokens.
2. Cast your vote for your preferred option (a, b, c, or d) to determine the method for counting redeemable BYTE tokens.
3. The option with the most votes will be incorporated into the redemption plan, and the redemption process will commence accordingly.

Your participation in this voting process is crucial in shaping the future of BYTE tokens and the community. We encourage you to cast your vote and make your voice heard. Together, we can ensure a fair and transparent redemption process that benefits all BYTE holders.

Thank you for your involvement and support!