TL;DR:
The DAO has historically allocated emissions through a quarterly schedule that is ratified by token holders. Current emissions schedules are mostly assigned to specific vaults. There is, however, an exception that has demonstrated successful delegation of emissions responsibility. The Community Council was allocated up to 8k BADGER per week for Bribing / Emissions. This allocation has been used to bootstrap new products and generate strong yields. It has shown the power of flexible emissions.
It’s proposed this flexible emissions model is expanded to cover all emissions by:
- Continuing to allocate up to 8k BADGER per week, to be directed by the Badger Community Council
- Granting the Badger Treasury Council responsibility for directing the remaining emissions. Weekly emissions directed by the Treasury Council will remain capped at the current level, set for Q2 and held over for Q3/4, of 20k.
It is believed that strengthening emissions flexibility will provide more efficient and responsive emissions distribution and will maximize the value of Badger created assets.
Overview & Specifics
Through 2022 the DAO has established or reestablished two governing bodies, the Badger Treasury Council and The Badger Community Council. Both of these groups have succeeded in expediting decision making for the benefit of the DAO and the community. These two bodies are a successful implementation of a democratic republic structure in the DAO.
Badger is focused on developing new products that will benefit from emissions. Approving this BIP will provide the flexibility needed to align emissions with the product goals of the DAO, while maintaining overall economic health.
Badger Community Council:
The Badger Council has proven itself capable of directing emissions to produce cost efficient yield for Badger token holders. Therefore, the 8k BADGER weekly allowance for the Badger Community Council to use at their discretion will remain in place.
The Badger Community Council will have line-item veto power over emissions changes directed by the Badger Treasury Council. A veto requires a 5 of 7 super-majority vote of the Community Council.
Badger Treasury Council:
The Badger Treasury is responsible for optimizing the value of assets in the Treasury which are the same assets the community holds. The Badger Treasury Council spends their working hours researching the best way to earn yield on these assets. This makes them the best group of active BadgerDAO members to study and direct emissions when considering the economic health of the DAO and the benefit of emissions to supporting current and new products.
Giving the Treasury Council responsibility for allocating emissions will provide the flexibility to innovate, optimize yield and maximize efficiency for the health of the community and the DAO.
Implementation:
At the passing of this BIP, emissions will be managed by the Treasury Council with the Community Council continuing to direct up to 8k BADGER weekly.
- Yes - Approve These Changes
- No - Reject These Changes
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