# \[PASSED\] BIP-20: Adjustments to Bybit Contributions to the BitDAO Treasury to Improve Tokenomics, Project Focus, and Decentralization

**URL:** <https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876>\
**Category:** \[Curated Archive\] BitDAO treasury management\
**Created:** [March 15, 2023, 9:28am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876 "2023-03-15T09:28:51Z")\
**Posts on this page:** 17\
**Page:** 3

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**Author:** ![jorantan96](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/jorantan96/32/590_2.png) [@jorantan96](https://discourse.bitdao.io/u/jorantan96)\
**Post date:** [March 28, 2023, 7:44am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/47 "2023-03-28T07:44:41Z")

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Because burning relies on Bybit’s daily trading volume, try to imagine we getting bulls run but the Bit price still maintains that the portion of burning is very high, maybe they are afraid of losing all BIT and changing another measurement on Bybit Contribution. 😀 😀

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**Author:** ![MrTung](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/mrtung/32/965_2.png) [@MrTung](https://discourse.bitdao.io/u/MrTung)\
**Post date:** [March 28, 2023, 7:50am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/48 "2023-03-28T07:50:31Z")

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- When the volume of transactions is large, they use the fees collected to buy more BIT - if they still want to keep a large amount - the bit value will increase. Here they only sell, not buy.
- That is, they use the CONTRIBUTION by buying BIT in the market. True value will be increased. Here they just burn their BIT.
- And they don’t burn enough compared to the announcement on [BitDAO](https://www.bitdao.io/analytics)  
 ![Screenshot 2023-03-28 at 14.58.33](https://us1.discourse-cdn.com/flex019/uploads/bitdao2/original/1X/7f37a3b5f50221a1cc9bb97104c2a5e79751e329.png)

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**Author:** ![jorantan96](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/jorantan96/32/590_2.png) [@jorantan96](https://discourse.bitdao.io/u/jorantan96)\
**Post date:** [March 28, 2023, 8:05am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/49 "2023-03-28T08:05:03Z")

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FYI

 ![image](https://us1.discourse-cdn.com/flex019/uploads/bitdao2/original/1X/b847409f9ebdd7db241ad46df0b4b82aacba33b2.jpeg)

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**Author:** ![MrTung](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/mrtung/32/965_2.png) [@MrTung](https://discourse.bitdao.io/u/MrTung)\
**Post date:** [March 28, 2023, 8:12am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/50 "2023-03-28T08:12:24Z")

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My comments will be deleted soon. Because they won’t like the truth 😅

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**Author:** ![jorantan96](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/jorantan96/32/590_2.png) [@jorantan96](https://discourse.bitdao.io/u/jorantan96)\
**Post date:** [March 28, 2023, 8:12am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/51 "2023-03-28T08:12:58Z")

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Actually keep your comment here, everyone should be have their voice out their concern.

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**Author:** ![Je](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/je/32/571_2.png) [@Je](https://discourse.bitdao.io/u/Je)\
**Post date:** [March 30, 2023, 7:37am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/52 "2023-03-30T07:37:29Z")

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**[BIP-20] Adjustments to Bybit Contributions to the BitDAO Treasury to Improve Tokenomics, Project Focus, and Decentralization**

Vote here:

[https://snapshot.org/#/bitdao.eth/proposal/0x6ebdd692948cb84ef2f1855718ffd4aa6421c092a656825870f70b2c27485040](https://snapshot.org/#/bitdao.eth/proposal/0x6ebdd692948cb84ef2f1855718ffd4aa6421c092a656825870f70b2c27485040)

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**Author:** ![MrTung](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/mrtung/32/965_2.png) [@MrTung](https://discourse.bitdao.io/u/MrTung)\
**Post date:** [March 30, 2023, 7:55am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/53 "2023-03-30T07:55:03Z")

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No need to vote to get the results 🤣

 ![image](https://us1.discourse-cdn.com/flex019/uploads/bitdao2/original/1X/7b547de50204e6c4f6cda2096caa6db45bac107a.jpeg)

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**Author:** ![Cain](https://avatars.discourse-cdn.com/v4/letter/c/85e7bf/32.png) [@Cain](https://discourse.bitdao.io/u/Cain)\
**Post date:** [April 3, 2023, 9:47pm UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/55 "2023-04-03T21:47:01Z")

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I dont think it is necessary by the moment to implement it

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**Author:** ![Kertas](https://avatars.discourse-cdn.com/v4/letter/k/ea5d25/32.png) [@Kertas](https://discourse.bitdao.io/u/Kertas)\
**Post date:** [April 4, 2023, 8:28am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/56 "2023-04-04T08:28:40Z")

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I support such a proposal

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**Author:** ![MrTung](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/mrtung/32/965_2.png) [@MrTung](https://discourse.bitdao.io/u/MrTung)\
**Post date:** [April 5, 2023, 4:30am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/57 "2023-04-05T04:30:28Z")

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![Screenshot 2023-04-05 at 11.19.24](https://us1.discourse-cdn.com/flex019/uploads/bitdao2/original/1X/2866ec34e4b3a2f954e236b9aee9e39636f8225f.png)  
Bybit saved over 60 million BIT. Should have voted this month for next month. If you don’t burn it, bybit should give all 180 million Bits to BITDAO

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**Author:** ![jorantan96](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/jorantan96/32/590_2.png) [@jorantan96](https://discourse.bitdao.io/u/jorantan96)\
**Post date:** [April 5, 2023, 5:27am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/58 "2023-04-05T05:27:02Z")

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I’m not sure what you try to bring up…

FYI, the contribution from burning become halving (would might continue to burn if needed). Mean bybit will keep contribute their portion to bitDAO treasury, those portion might use for burn (may voting decide in future), or use for mantle network ecosystem building. So what’s mean by bybit saved over 60million BIT?

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**Author:** ![Denys](https://avatars.discourse-cdn.com/v4/letter/d/9de0a6/32.png) [@Denys](https://discourse.bitdao.io/u/Denys)\
**Post date:** [April 5, 2023, 9:39am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/59 "2023-04-05T09:39:31Z")

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Absolutely yes. This is a good one.

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**Author:** ![MrTung](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/mrtung/32/965_2.png) [@MrTung](https://discourse.bitdao.io/u/MrTung)\
**Post date:** [April 5, 2023, 1:43pm UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/60 "2023-04-05T13:43:34Z")

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That is: instead of bybit will burn 186 million BIT of March, now bybit will only contribute to BITDAO 120 million. And so Bybit will never have to buy BIT outside and still have 65m/month left after each unlocking period. Then this decision will also be changed by many BIT holders (Bybit) in their favor. What everyone knows…So I think this month, if bybit plays well, bybit will pay 186 million BIT to BITDAO. KKK  
Thank you Bybit for dedicating to BITDAO!

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**Author:** ![jorantan96](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/jorantan96/32/590_2.png) [@jorantan96](https://discourse.bitdao.io/u/jorantan96)\
**Post date:** [April 5, 2023, 2:12pm UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/61 "2023-04-05T14:12:21Z")

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we knew that in bear market burning mechanism can’t work on price impact, so bybit decide to contribute based on halving mode to treasury which is good because the portion in treasury getting more and more, and those bit can used for Mantle ecosystem building for each project, other than that, it will also reduce the centralised power from bybit to bitdao, so overrall the decision is good and perfect,

Seem burning doesn’t work to bitDAO, we should focus more on Mantle Network that would have high probability to bring more adoption to bitDAO, at that time burning is not suitable anymore because demand is high !

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**Author:** ![Je](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/je/32/571_2.png) [@Je](https://discourse.bitdao.io/u/Je)\
**Post date:** [April 6, 2023, 12:22am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/62 "2023-04-06T00:22:12Z")

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BIP-20 has passed, with 253M BIT voting “Yes” and 1.1M BIT voting “No”.

With the passing of BIP-20, the following actions will be taken:

- Modify the Bybit contribution from a dynamic exchange-linked-amount to a fixed-schedule-amount.
- Retain the Bybit contribution $BIT in the BitDAO Treasury instead of immediately burning.

The intended result is: a focus on product and user growth (instead of treasury growth); a focus on BitDAO initiatives instead of Bybit; increased the stability and predictability of $BIT tokenomics; and decentralization of $BIT holdings and governance.

This discussion will be moved to the archive category within the next seven days. The proposal vote will remain accessible on [Snapshot](https://snapshot.org/#/bitdao.eth/proposal/0x6ebdd692948cb84ef2f1855718ffd4aa6421c092a656825870f70b2c27485040).

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**Author:** ![bitgaz](https://avatars.discourse-cdn.com/v4/letter/b/da6949/32.png) [@bitgaz](https://discourse.bitdao.io/u/bitgaz)\
**Post date:** [April 19, 2023, 1:23am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/66 "2023-04-19T01:23:14Z")

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arjunkalsy,

Contributions received from Bybit also contributed more than the first New Bybit Contribution Schedule in the bear market.  
If burning causes a value-destroying problem, we can move $BIT to a bitdao wallet without burning it, or we can change it to a bitdao wallet with another form of coin.  
Why do we need to change contributions even though Bear Market received more contributions from Bybit than New Bybit Contribution?  
As the price increases, so does the $BIT that is transferred to the bitdao wallet.

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**Author:** ![Dmitrij](https://sea1.discourse-cdn.com/flex019/user_avatar/discourse.bitdao.io/dmitrij/32/1021_2.png) [@Dmitrij](https://discourse.bitdao.io/u/Dmitrij)\
**Post date:** [April 24, 2023, 11:24am UTC](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876/68 "2023-04-24T11:24:19Z")

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Great proposal! I fully support the idea of focusing on product development and user growth, as well as the proposed changes in $BIT tokenomics. Modifying the Bybit Contribution from a dynamic exchange-linked-amount to a fixed-schedule-amount and increasing the stability and predictability of $BIT will undoubtedly contribute to the decentralization and strengthening of the BitDAO community. I believe that transitioning to a fixed-schedule contribution, reducing the likelihood of $BIT being viewed as a “Centralized Exchange Token,” and paving the way for its listing on other centralized exchanges will make BitDAO even stronger. Let’s work together to boost BitDAO’s long-term prosperity and competitiveness!

[Previous page](https://discourse.bitdao.io/t/passed-bip-20-adjustments-to-bybit-contributions-to-the-bitdao-treasury-to-improve-tokenomics-project-focus-and-decentralization/4876.md?page=2)