Two important discussions were posted to the BitDAO forum today. Please take a look and drop any questions in the comments!

https://twitter.com/BitDAO_Official/status/1629772197177995267

https://twitter.com/BitDAO_Official/status/1629723778359128064

[DISCUSSION] Adjustments to Bybit Contributions to the BitDAO Treasury to Improve Tokenomics, Project Focus, and Decentralization

A new soft proposal has been posted to the #BitDAO forum for discussion 🧵

https://discourse.bitdao.io/t/discussion-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876

https://twitter.com/BitDAO_Official/status/1636024489392898050?s=20

[DISCUSSION] Optimization of Brand, Token, and Tokenomics

A new soft proposal has been posted to the BitDAO forum for discussion. This proposal aims to recommend changes to branding and structuring that lead to the greatest long-term token holder prosperity, provide the greatest chances of success for core protocols (e.g., Mantle Network), and preserve the governance and economic rights of token holders.

The following actions are proposed:

1️⃣ Apply a "one-brand, one token" principle to position http://mantle.xyz/ as the unified ecosystem brand with a product focus and authorize a token conversion plan.

2️⃣ Simplify tokenomics for a clean start to the Mantle Network mainnet.

Join the discussion here: https://discourse.bitdao.io/t/discussion-optimization-of-brand-token-and-tokenomics/5327

BIP-21: Optimization of Brand, Token, and Tokenomics is live on Snapshot for voting.

Starts on:
12 May 23 11:00 UTC

Ends on:
19 May 23 11:00 UTC

Read the proposal and VOTE here:

https://snapshot.org/#/bitdao.eth/proposal/0xe81f852d90ba80929b1f19683da14b334d63b31cb94e53249b8caed715475693

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❓ FAQ
Q: I have delegated BIT but cannot vote, why?
A: To vote, you must delegate your BIT before the voting starts. If you delegate after the vote starts you will have to wait for the next proposal in order to vote.

Q: How do I delegate
A:Check out the tutorials here: https://docs.bitdao.io/litepaper-1/delegation

Q: Where can I learn more about delegation and BitDAO Governance?
A: https://docs.bitdao.io/litepaper-1

We would like to inform the BIT community about an upcoming migration of the BitDAO forum in accordance with BIP-21.

Please take note of the important migration details that have been posted in the forum: https://bitdao.to/forum-migration

There will be an AMA to discuss the new $MNT token and conversion parameters proposal. Set a reminder to join tomorrow May 25 at 2PM UTC:

https://twitter.com/0xMantle/status/1661311293532540928

An update has been posted on the Mantle forum regarding the recent token proposal: [DISCUSSION] Mantle Token Design, Conversion Parameters, and Asset Handling

Key updates:
✅ The one-way token conversion ratio set at 1:1
✅ Implement a Conversion Cost Rebate Program
✅ Clarity around the Mint function and potential supply changes

For complete details, please refer to the update post on the forum:
https://forum.mantle.xyz/t/discussion-mantle-token-design-conversion-parameters-and-asset-handling/6352/2

🚨 Reminder: Stay alert to avoid scams!

There are currently no ongoing airdrops or staking rewards for BIT.

Community channel Mods and Admins will never DM you first.

Official Mantle channel links can be found at - ⁠https://www.mantle.xyz/
Official BitDAO channel links can be found at - https://bitdao.io/

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⁠Please report any scammers by tagging an admin in this group.

⏰ Reminder: $BIT Delegates, don't forget to vote on MIP-22: Mantle Token Design, Conversion Parameters, and Asset Handling

Voting ends Jun 7, 2023, 7:57AM UTC

Vote here:
https://snapshot.org/#/bitdao.eth/proposal/0x950dac4d5715b8aa8eab29c484b1c9dd0eed161141262b0425874f65be4d9f8e

https://twitter.com/BitDAO_Official/status/1664706302852083712

Following BIP-21, BitDAO will gradually merge with Mantle Ecosystem. You can check the status of key items, and any required user actions, here: https://bitdao.to/merger

✅ Delegation Tool
✅ Forum
🗳️ Token Conversion
🚧 Treasury Monitor
🚧 Snapshot
🚧 Documentation
🚧 Blog

✅ [PASSED] MIP-22: Mantle Token Design, Conversion Parameters, and Asset Handling

➡️ Full proposal:
https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352

➡️ Snapshot:
https://snapshot.org/#/bitdao.eth/proposal/0x950dac4d5715b8aa8eab29c484b1c9dd0eed161141262b0425874f65be4d9f8e

With the passing of MIP-22, the following actions will be taken:

1️⃣ The Mantle token, $MNT, shall incorporate functions analogous to the "Upgradability" and "Mint" functions of $ARB and $OP.

2️⃣ The one-way token conversion ratio shall be set at 1 $BIT token to 1 $MNT token.

3️⃣ The Mantle core contributor team shall be authorized to determine the optimal timing and sequence for the delisting of $BIT tokens, listing of $MNT tokens, opening of conversion channels, and the Mantle Network Mainnet.

4️⃣ A DEX liquidity pool for $MNT-ETH may be created, utilizing the proceeds from the deconstructed $BIT-ETH pool, and with reference to the intent of BIP-10.

5️⃣ A temporary conversion treasury may be established to provide support for the token creation and conversion process.

The intended result will be changes to branding and structuring that lead to the greatest long-term token holder prosperity, provide the greatest chances of success for core protocols (e.g., Mantle Network), and preserve the governance and economic rights of token holders.

ATTN: with the passing of BIP-21, all BitDAO community channels will merge into the Mantle community. Please join the Mantle community at the official channels listed below:

Telegram: https://t.me/mantlenetwork
Discord: https://discord.com/invite/0xMantle
Zealy: https://mantle.zealy.io
Youtube: https://www.youtube.com/@0xMantle

Important PSA ⚠️

We'd like to notify the $BIT community that the majority of LPs for BIT-USDT and BIT-ETH pairs have been removed from major on-chain and decentralized exchanges in anticipation of the BIT to MNT migration happening on July 17.

Due to the potential for increased slippage, we urge caution trading BIT while liquidity is low. The BIT to MNT migration app and MNT-USDT and MNT-ETH pairs will be available later today.

https://twitter.com/BitDAO_Official/status/1680817347488268290

Another reminder that $BIT ➡️ $MNT conversions are underway! 🚀

📖 You can use the migration tool here for at least the next 6 months: https://migratebit.mantle.xyz

UPDATE: pending the following discussion/proposal in the Mantle Forum, the migration tool has been temporarily paused:
https://forum.mantle.xyz/t/discussion-clarification-of-bit-to-mnt-migration-policy-and-service/7877/5

If you have any questions about the migration process, please ask in official Mantle channels:

* Telegram: https://t.me/mantlenetwork
* Discord: https://discord.gg/0xMantle