Welcome to Botto's Monthly Roundup, a snapshot of news and updates from the previous 4 weeks.
Overview
I. Top News
II. Sales Report
III. Top Fragments
IV. Top Proposals
V. Town Halls
VI. Editorials
VII. A Look Ahead
I. Top News
August was a particularly noteworthy month for Botto on multiple fronts, from major secondary sales to a bonanza of governance initiatives that are pushing the project forward in many exciting directions. BottoDAO is now gearing up for a busy and fruitful Fall season, while laying the foundations for many unique initiatives that will carry us into 2025.
Secondary sales
A couple notable secondary sales made waves over the past month, starting with the private secondary sale of Genesis period work Communicate Displace, to renowned generative and ai art collector, delronde.
August also saw a very rare secondary sale of Seaport Subject, a deep cut from Botto’s oeuvre that was released in an edition of 10 at the conclusion of the Genesis period. The collector, Jediwolf, acquired the piece for a USD value of $17,303, representing a 245% appreciation in the 15 months from the last sale of this piece.
August BIPapolooza
August saw the confluence of the most concurrent BIPs in Botto’s history, a testament to the accelerating growth and development of Botto in various areas. Improvements to the art engine, new collaborations, changes to Botto’s staking mechanisms and protocol owned liquidity are among the exciting areas of major development we’ll be seeing in the coming months.
II. Sales Report
August saw the opening of 5 auctions, which together produced 14.5691 ETH in total sales and royalties after fees.
August also saw the opening of an adjustment in rewards percentage. As of the passing of BIP-59, 20% of revenue is now designated to Protocol Owned Liquidity.
Total Rewards for August
Active Rewards: 8.1079 ETH
To Treasury: 8.1079 ETH
Total to POL: 1.41221
#005, Confluence of Gathered Thoughts
Acquired by @ultragrails
Price realized: 3.691 ETH
#006, Veils of Poured Colors
Acquired by @Peacelandbread
Price realized: 3.666 ETH
#007, Whispers of Nature’s Tapestry
Acquired by @ellllllbarto
Price realized: 4.465 ETH
#008, Mothers Amidst Morphing Forms
Acquired by @cyborgdao
Price realized: 4.5 ETH
#009, Unmade Layers of Blossoming Flamingos
Acquired by: @ellllllbarto
Price realized: 4.059 ETH
III. Top Fragments
Under Stranding Wake
Voting Points: 5,088,648
Round: 127
Score: 52.63
Veiled Dance of Consciousness
Voting Points: 3,163,949
Round: 133
Score: 73.63
Stripped Vines in Pickled Performances
Voting Points: 2,139,881
Round: 126
Score: 39.89
IV. Top Proposals
Recently Passed
BIP-62: Reduce Minimum Staking Requirement for Active Rewards Eligibility
This BIP approval reduces the minimum staking quantity for Active Rewards eligibility from 2000 $BOTTO to 100 $BOTTO, and reduces the minimum claim amount from .01 ETH to .001 ETH.
BIP-59: Increasing BottoDAO’s Protocol Owned Liquidity
Botto DAO’s Protocol Owned Liquidity (POL) will be increased, and thus grow its treasury’s ownership of the liquidity in the BOTTO + ETH pool on Uniswap V2 on Ethereum mainnet through ongoing POL contributions from a portion of Botto DAO’s weekly net revenue.
BIP-58: Tutoring Botto in Art History
This BIP lays out an initial architecture for tutoring Botto in art history, enabling it to have a greater voice in its creative direction. It also explores some of the beneficial ways Botto can use its newfound voice and identifies a first project in installation art to showcase its new capabilities.
BIP-57: Botto in Series 7 of Notable Pepes
This proposal is presented by AOTM and aims to set up a collaboration with Notable Pepes to produce a unique card for their Series 7 collection in September 2024. The goal is to enhance Botto's visibility in the meme art ecosystem, reach new audiences, and generate revenue.
Ongoing
BIP-63: Botto gets Based
This BIP proposes the deployment of a parallel $BOTTO ERC-20 token contract on Base via Supermigrate. With deployment, ETH rewards will be claimable on base. Up to 20% of Protocol-Owned Liquidity will be migrated to Base to support liquidity.
BIP-61: Sotheby’s Solo Show
Sotheby's has proposed hosting Botto for a solo exhibition / auction on October 19-23 at its New York City location. Works from Botto's treasury will be offered for sale.
BIP-60: Incentivizing DAO Stewards for Successfully Passed Proposals
This BIP aims to establish a formal incentive system for DAO stewards who successfully pass proposals through the snapshot voting process. The goal is to encourage more active and higher quality participation in governance.
V. Town Halls
In this Townhall, we discussed key topics including Botto's participation in the Notable Pepe series and recent collaborations, community discussions on Discord, and extending Botto's P5.js exploration. We explored the idea of lowering the minimum staking requirement for rewards to foster growth and accessibility. We also examined the potential benefits of rewarding successful BIPs from the community. Additionally, Repsol introduces a new proposal voting system aimed at balancing small and large investors' influence on governance proposals.
In this Townhall, we introduced Lauren, the new marketing lead, and discuss a series of important proposals and events. Key proposals include a protocol and liquidity proposal, reducing the minimum staking requirement, and incentivizing DAO stewards.
The Townhall also covered upcoming events, such as exhibitions and events in Milan, Istanbul, Korea, and participation in Art Crush.Discussions extend to how badges can evolve the Botto economy by rewarding participants and enhancing their on-chain profile. Lastly, upcoming activities include Sotheby's auction for Lumen and new projects like Botto P5.
In this Townhall, we discussed several significant topics, including updates on Sotheby's auctions, the Lumen Prize benefit auction, and developments in P5.JS and the large language model prototype. We also delve into upcoming budget discussions and the launch of the V2 app and website.
The conversation covered liquidity management across mainnet and base, addressing liquidity fragmentation and rewards distribution. Additionally, we talked about enhancing user participation through improved user experiences and marketing strategies. We encourage feedback from both live and asynchronous listeners to shape future engagements and updates.
VI. Editorials
As we passed the mid-way point of Morphogenesis, we took a close look at the work of the period's first works and offered thoughts on their relationships with one another as well as the idea of morphogenesis itself.
Read here
XII. A Look Ahead
September will mark the final month of the Morphogenesis period, and theme voting for Botto’s 9th period will open soon. Now that BIP-55 has passed, upgrades to Botto’s art engine may be implemented, with new aesthetic strategies sure to arise after Botto’s adoption of new tools.
The DAO also looks forward to upcoming events in September, including our participation in Silk Road in Istanbul, and Botto’s inclusion in the exhibition Right: Click Remix at Frieze Korea.
