# Increase Timelock to 2 Days (172800 seconds)
With the recent DAO attacks, we're proposing to increase the time lock from 2 hours to 2 days. This will reduce the risk of a DAO attack executing a proposal before it can be cancelled.
# Remove Treasury and Operations Taxes
Remove Taxes as per the Whitepaper Treasury section.
As the project no longer uses a smart contract for trading, the auditing requirement is now unncessary.
This is a permanent modification to the token contract. Once these taxes are disabled they can never be enabled again.
# First Ladder Reward Distribution
This proposal is to allocate 5.25 ETH from the treasury as a reward to the participants of the first ladder.
5 ETH will purchase BIGCAP tokens on Uniswap, in 5 transactions of 1 ETH to reduce the likelihood of frontrunning.
0.25 ETH will be used to cover transaction gas fees for the swaps and distribution to ladder participants.
The following rules will be enforced for the rewards. If the rules are not satisfied, the tokens will be returned to the DAO treasury:
- All participants will recieve an equally divided share of the 5 ETH worth of BIGCAP tokens.
- Participants are only eligible for a reward if they perform a trade in the ladder. Registering for the ladder **does not** automatically guarantee a reward, the participant must perform one or more trades to be eligibile.
- Multiple trades does not increase reward distribution.
- **A minimum of 25 individuals** need to participate in the ladder (to prevent collusion to reduce the numbers to increase the reward).
- The rewards will be distributed no later than 2 weeks after the first ladder finishes.
# Transfer 10 ETH to the Treasury Wallet for the First Ladder
This proposal is to transfer 10 ETH for the first ladder to the following address:
0x61a2360447C4d1062a8b54b74AaBc12a075f43A5 (ens:bigcapcrypto.eth)
These funds will be held until the first ladder is activated. As the DAO process takes some time to execute this will save waiting for the DAO when the ladder is reading for trading.
# Release 10 ETH to add to DEX liquidity #1
The BIGCAP DAO currently holds 25.24 ETH. As the first BIGCAP ladder is limited to 10 ETH, there is excess currently available beyond what is needed for starting the ladders.
This proposal is requesting to release 10 ETH to the BIGCAP deployer address: 0x61a2360447C4d1062a8b54b74AaBc12a075f43A5
5 ETH will be used to purchase BIGCAP from Uniswap at the market rate of the time. The BIGCAP purchased will then be added as liquidity pair tokens using the remaining 5 ETH.
Also this proposal will modify the DAO to only allow addresses holding 100,000 BIGCAP to open proposals (set proposal threshold to 100000000000000000000000)
https://github.com/congruentlabs/bigcap-dao/issues/1
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