Bridging $CO to Base for Q2 Grants

Now that CP-IP005 has been completed, we are ready for the first swath of tokens to move to Base to prep for issuing out more tokens to the community.

The Grants Council has put together a distribution plan for 2025 that indicates a goal of distributing 150m $CO tokens for the year. The council is proposing to transfer the 1st Quarter's worth to a multisig treasury on Base controlled by the members of the Council; 37.5m $CO

Reason for a multisig: As was discussed in the bridge discussion for CP-IP005, we are unable to give the DAO control of the funds on Base because the DAO is formed on Eth mainnet. There is yet to be a suitable solution to this use case, and as such we will have to continue forward with the progressive path of decentralization and improve upon this when we are able. The Grants Council will operate a multichain SAFE that is responsible for bridging $CO tokens back and forth and managing issuance on BASE.

Distribution Plan Token Amount: 37.5m Multisig Wallet Address: 0x52d2fFf06aa2415BC977531bFb56C8d11ff3Ed7b Multisig Signers: Grants Council

Grant Goals from the Distribution Plan: Bucket 1: Retroactive Reputation ~50% A portion of the tokens should target retroactive reputation for contributions that have already been made to the Social Oracle. The goal of this is to fully activate early participants and enshrine their contributions into the foundations of the DAO. Detailed distribution plans will be presented and evaluated on a case-by-case basis until retroactive rewards are concluded

Bucket 2: New Engagement ~50% The remainder of tokens should be targeted towards emerging CO Utility and ongoing contributions to the Social Oracle. The goal of this is to entrench functional utility into the CO token and draw in new participants in a value-aligned manner. As initiatives come up through the year they will be evaluated and approved on a case-by-case basis.