A proposal to use a “One model, one token” precept has been pushed to a vote on BitDAO’s snapshot and requires changing BitDAO’s token (BIT) with a brand new governance token. Snapshot serves as an off-chain governance voting platform for Decentralized Autonomous Organizations (DAOs) and different blockchain initiatives.
Based on the BIP-21 proposal, the BitDAO ecosystem – governance (BitDAO) and product (Mantle) – will likely be unified underneath the Mantle title. Governance processes and treasury administration will stay unchanged, however after neighborhood approval, BIT holders will endure a token conversion course of for the brand new Mantle token.
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