MIP-23: $MNT Supply Optimization in Preparation for Launch
Vote here: snapshot.org/#/bitdao.eth/proposal/0x8446404bd2dbd6a0b6b3a70dd2db64bd5b4a5408684aa93b263623fa0fdc0e85
This proposal is triggered by the upcoming deployment of $MNT token as authorized by BIP-21 and MIP-22. We received a lot of community feedback regarding the high fully diluted supply of $BIT and $MNT. This is an opportunity to optimize numbers before the $MNT token launch.
By voting "Yes", you endorse the following terms:
1️⃣ Non-conversion of 3 billion $BIT tokens: 3bln $BIT currently held in Mantle Treasury will not be converted to $MNT. This will effectively reduce the fully diluted supply of $MNT at launch by 3bln tokens when compared to $BIT.
2️⃣ Non-converted $BIT tokens will be sent to the nominated burn address. For additional details on this address please refer to the following research article: github.com/windranger-io/public-docs/blob/main/research/R003.md#alternative-to-burn-function.
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Voting period: Now until July 7, 2023
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