Migration proposal

Migration proposal

Dear BoringDAO community!

Today, I would like to present a proposal which I believe is in favour of perfecting BoringDAO in all aspects.

As BoringDAO is smoothly shifting from V2 to V3, numbers of new functions and products have been introduced or will be introduced within a short period. BoringDAO is expending in a steady rate, however, the denomination of a single BOR token is quiet large which affects BOR’s liquidity and is not exactly user-friendly to some extent. Meanwhile, community members have realised that there are some problems exist in centre part of the project which could potentially drag the pace of development of BoringDAO. Today, we would like to offer a solution which we believe is capable of solving the problem.

Problem 1:

The initial supply of BOR is only 200,000 which is not helpful for the decentralisation and liquidity of the project and considering the current market price for 1 BOR is over 600 dollars which is not friendly enough to new users.

Problem 2:

There are some smart contracts which are not elegant enough in satellite city part. We would love to perfect them for the sake of profession.

Solution

The current total supply of BOR token is 200,000 BOR. We would like to issue a new token named ‘BORING’. The total supply is up to community’s votes.

How to do so?

BoringDAO will offer BOR holders a smart contract which allows holders to migrate their BOR to BORING Token on both ETH and BSC with no time limit.

Migration ratio option:

1:100

1:1000

1:10000

1:60000

1:1000000

1 Like

OMG, this huge.
I agree with it, but I was wondering which token will be gover token? BORING or BOR?

Personally, I think it will run a little bit different than Yearn and Bounce.
Bounce issued new token, replaced $BOT with $Auction, Yearn issued new token $woofy, but still use YFI in system.
For Boring, there are a lot of partners, so we can not just use new token all of a sudden. But Yearn way is more like an interesting community event instead of integrating Woofy. So it would be great if boringdao can allow 2 way migration, and use $BORING token gradually.

i think it would be a great idea and will benefit the market price.
I personally vote 1: 1000

1 Like

Totally agree with the Woofy solution. I personally think 1:10000 would be a good idea. From the Chinese community’s perspective, despite high possibility of failure, Shib and Doge did set up a new paradigm that people do like the ‘erase the 0’ game. It also leaves more options for community events like airdrop or bounty.

Mike, I would think of some better ticker like ‘$Brog’ considering our mascot is a blue Pepe frog. ‘Boring’ is good but guess we can make it more relatable to the meme?

lol, good idea:Boring + Frog
but I am afarid of that animal coin will not be as popular as it is now.

Agree.
I feel gross about these animal coins

Hello guys, I agree with BORING, Frogcoin already has TOAD,FGC, Going with the flow is not our style, 1:10,000 migration

Hi everyborer, I agree with BORING, it’s so coool,1:10000 i think.

Does the migration contract plan to be audit?

yes, CertiK will do the code audit