DIP-17 Migration of DODO Tokens to Scroll and Strategic Use of Community Treasury Funds

English Proposals
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Summary

This DIP proposes a strategic migration of 2 million DODO tokens to Scroll, a leading zkEVM Layer 2 solution, aiming to leverage its enhanced scalability and performance for DODOX, our most advanced cross-chain DEX aggregator. Concurrently, it proposes allocating $100,000 from the DODO community treasury. This investment is designed to boost trading volumes and user engagement on Scroll, fostering a cycle of growth and sustainability for the community treasury.

Specification

  1. Token Migration:
    • Migrate 2 million DODO tokens to the Scroll.
    • Purpose: To capitalize on Scroll’s advanced technology for liquidity mining, trading incentives, and other strategic initiatives.
  2. Community Treasury Utilization:
    • Allocate $100,000 from the community treasury.
    • Propose: The fund will be dedicated to a structured ecosystem incentive program on Scroll, with milestones based on TVL and trading volume of LP pairs to ensure the future growth of the community treasury.

Motivation

  • Strategic Migration to Scroll:
    • Innovative zkEVM Technology: Scroll’s native zkEVM closely parallels Ethereum’s EVM, providing seamless integration and compatibility with DODO’s existing infrastructure.
    • Enhanced Scalability with Cost-Effectiveness: Scroll significantly boosts transaction speeds and scalability, crucial for DODO’s expanding operations. Concurrently, the platform’s lower transaction costs allow DODO to offer more competitive fees, yielding direct benefits for users.
    • Community and Ecosystem Synergies: Scroll’s emphasis on community engagement and open development aligns well with DODO’s values, fostering a collaborative and growth-oriented ecosystem.
  • Treasury Utilization:
    • Active Treasury Engagement: Addressing the previous underutilization of the community treasury to drive growth and add value to the DODO ecosystem.
    • Milestone-Based ecosystem incentives: This innovative ecosystem incentive program is designed not just as an expenditure but as a strategic investment, with the goal of recouping and growing the funds invested based on the LP Statistics.

Voting Options

  1. Approve: Endorse the migration to Scroll and the strategic treasury fund allocation.
  2. Reject: Disapprove of the proposed strategy.

Community members are encouraged to share their insights and suggestions.

Governance Vote

  • Voting Period: The voting will commence on November 29th, 2023, at 5:00 PM SGT and will conclude on December 4th, 2023, at 5:00 PM SGT.
  • Voting Method: DODO and vDODO token holders can vote via Snapshot, with 1 DODO = 1 vote and 1 vDODO = 100 votes. Voting is gas-free.
  • Implementation Threshold: The proposal will proceed if it secures a majority with a minimum of 5M total votes.