[PASSED] BIP-21: Optimization of Brand, Token, and Tokenomics

The Mantle brand is going to bring a lot of attention to BitDAO, and vice-versa. It was only a matter of time before this came to the table. Fully support all aspect of this proposal. I’m not sure I understand the concern I see in some of the other OP’s. Brand consolidation is paramount because it indicates organization, solidarity, and focus of intent. Mantle is a highly anticipated network launch with so many eyes on it. Rebranding to Mantle, which seems to be BitDAO’s primary focus, is a commitment to the efforts of the teams. The Mantle docs specifically state under the “Solving Data Availability” section: “…an implementation of which allows nodes to provide data availability services to the Mantle network, participate in Mantle’s economic model via $BIT staking. This ensures block data completeness and correctness on the Mantle execution layer, while simultaneously taking advantage of L1 security features. Another neat implication of this dual-quorum model would be increased staking utility for $BIT in addition to the governance capabilities it offers.” It’s clear that the $BIT token is imbedded in the Mantle operational ecosystem and functionality. This is the way. The proposal is comprehensive and considerate of both present and future holders of the token and participants in the DAO. Well done.

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For various reasons, I totally support this proposal. To begin with, integrating the brands prior to the Mantle mainnet release is a deliberate decision that will aid in the creation of a single identity for the ecosystem. Users, developers, and token holders will be able to link the token and its value proposition with the Mantle brand, minimizing misunderstanding and improving the ecosystem’s image.

Second, by simplifying tokenomics and adhering to the “One brand, One token” philosophy, users can better comprehend the relationship between the token and the chain. Users can better understand the value and purpose of the token when it is called after the chain, rather than having to explain what $BIT is and how it ties to the Mantle ecosystem. This can also aid in token adoption because users will have a better grasp of the token’s position within the ecosystem.

Furthermore, the plan to accelerate all BIP-20 contributions and BitDAO launch vesting timelines simplifies and predicts the token’s circulating quantity. Token holders will profit from this since they will no longer have to cope with the complexities of outstanding vesting schedules left over from the first BitDAO launch.

To summarize, I believe my approach is helpful to the long-term prosperity of token holders because it simplifies branding, tokenomics, and governance while retaining token holders’ rights. We can stimulate more user and developer engagement, facilitate Web3 adoption, and secure the long-term success of the Mantle Network and its associated products by creating a unifying ecosystem brand and token.

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Can we know what is the further relationship between bybit and bitdao after rebrand?

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I think this is better for our future . Because the only relationship between $BIT and bybit recently, there are only investments left.
You should explain the direction and details of the new tokens. For example, $MANTLE the token will be on ERC-20 or Mantle network, the exchange ratio of $BIT and $MANTLE, etc.

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모든 BIP-20 기여 및 BitDAO 출시 베스팅 일정을 가속화하기 위한 제안은 토큰의 순환 공급을 단순화하고 더 예측 가능하게 만듭니다. 이는 원래 BitDAO 출시에서 물려받은 미해결 베스팅 일정의 복잡성을 처리할 필요가 없기 때문에 토큰 보유자에게 도움이 될 것입니다.

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Thank you to everyone that joined our recent AMAs about this proposal!

In case you missed our first AMA check out the recap resource below :point_down:

:ballot_box: Don’t forget to vote by May 19, 2023, 11:00 AM UTC:
https://snapshot.org/#/bitdao.eth

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Firstly, I want to commend the author of the proposal for their well-researched and detailed approach. It is evident that they have thoroughly analyzed the current tokenomics and branding strategy of BitDAO and have proposed some thoughtful suggestions for improvement.

I believe that this proposal has the potential to create significant benefits for BitDAO and its token holders. By optimizing the branding strategy and tokenomics, BitDAO can increase awareness and adoption of its platform, as well as provide more value to its token holders. I look forward to seeing how this proposal progresses and the positive impact it may have on the BitDAO community.

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I like the new tokenomics. It lets people not mess up with the whole ecosystem.

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一个平台,一个代币,即保证品牌效应,又粘合了社区

I believe that any upgrade always leads to something good, so I believe that the team knows what they are doing and from the outside it looks promising and will not affect the community

I’m looking forward to the creation of a simple token, a new brand, and a new icon.
It asks for details of exactly what is born and what is changed.
It is very interesting to see that.

How can we ensure that after the replace to Mantle, and the asset from BIT and from holders are not affected, I mean in term of the worth of asset

In case you missed our second AMA check out the recap resource below :point_down:
(Click here to find links to our first AMA about the proposal.)

:ballot_box: Don’t forget to vote by May 19, 2023, 11:00 AM UTC:
https://snapshot.org/#/bitdao.eth

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Voting on BIP-21 has closed. The proposal has passed with 235M BIT voting Yes and 998 BIT voting No. With the passing of BIP-21, the following actions will be taken:

:white_check_mark: Position Mantle as the unified ecosystem brand with a product focus.
:white_check_mark: Authorize a token conversion plan.
:white_check_mark: Simplify tokenomics for a fresh start for the Mantle Network Mainnet, and token listings.

Thanks to all for contributing to the conversation here, and stay tuned for the upcoming discussion on the token conversion plan.

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Smart decision, I know this has been looked into with great in-depth also knowing that Mantle network can bring more people in with a new token I will also want to know if there’ll be a relationship between bybit and bitdao after rebrand?

This proposal is very interesting and have strong base. If Mantle team will keep low fees with trx speed and high chain security Mantle might be one of the strongest player in blockchainverse.

I fully support this proposal, this will be great for both the community with clear goals for DAOs.
With the token acceleration, I’m in full support as well as this will give the new token a better tokenomics and more even distribution.

Testnet is a very good experience; Does the new token have an impact on processing speed and gas fee optimization ?

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I very much agree, the proposal aims to introduce branding and structural changes that lead to the long-term prosperity of the greatest token holders. Provides maximum chances of success for key products (such as the Mantle Network) and maintains the governance and economic rights of token holders.

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I believe that both the community and DAOs will benefit greatly from this.

Additionally, this will aid in properly communicating information about Mantle Chain operations, such as upcoming initiatives and Token connections to the chain.