Summary
DIP-4 proposes migrating and allocating 5 million DODO tokens to the Arbitrum Mainnet to be used for liquidity mining and as other trading incentives in the future.
Motivation
Arbitrum is one the most promising EVM-compatible Optimistic Rollup layer 2 networks. It enables highly scalable and low-cost smart contracts, and DODO is proud to have the opportunity to join the initial cohort to build dApps on the Arbitrum Mainnet beta.
DODO’s integration into the Arbitrum ecosystem will allow Arbitrum’s users to enjoy the unique benefits and features provided by DODO’s innovative Proactive Market Maker (PMM), such as highly capital-efficient liquidity pools, SmartTrade, Crowdpooling, and more.
Token incentives are an effective way to attract liquidity providers (LPs) and boost trading volume for protocols that are in the growth phase. Providing DODO tokens as incentives on the Arbitrum Mainnet would also significantly increase the number of DODO token holders, which would spur significant growth for the DODO community.
Specification
DIP-4 proposes migrating and allocating 5 million DODO tokens to the Arbitrum Mainnet to be used for liquidity mining and as other trading incentives in the future.
Note:
These 5 million DODO tokens are DODO’s budget for the Arbitrum Mainnet, and it is not yet certain whether they will be fully utilized. The tokens will be sourced from the 60% Community Incentives allocation, as specified in the DODOnomics whitepaper.
Available Options
- Approve
- Reject
This concludes DIP-4. Suggestions and comments from community members are always welcome and encouraged. A governance vote on the proposal with the aforementioned options will be created on Snapshot.
Governance Vote
Link: Snapshot
Voting Period: July 14, 2021 at 1:00PM to July 17, 2021 1:00 PM SGT
Voting Method: Users with both DODO tokens and vDODO tokens can vote via Snapshot. 1 DODO represents 1 vote and 1 vDODO represents 100 votes. Casting votes will not incur any gas fee.
Vote for the proposal by clicking on the option that you agree with the most. Feel free to post your thoughts and alternative proposals in the DODO community forum.
If the total number of votes reaches at least 2 million and “Approve” receives a majority of the votes, the DODO team will implement the proposal.
Note: If you have DODO tokens, make sure that they are in wallets on the Ethereum mainnet (wallets on centralized exchanges or Binance Smart Chain will not give you votes).