Bitway Governance

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Current Results

78.4%

12,847,392 BWP

64,237 unique addresses

14.2%

2,327,109 BWP

11,654 unique addresses

7.4%

1,212,819 BWP

6,064 unique addresses

For 78.4%

Against 14.2%

Abstain 7.4%

Proposal Metrics

Treasury Size

$48.2M

Total locked value

Proposed APR Range

11–14%

Weighted blended yield

Execution Threshold

66%

Simple majority required

Reward Allocation Breakdown

USDT Earn Vault

50%

$24.1M

Native BTC Lending

25%

$12.05M

ɃTCT Bridge Liquidity

15%

$7.23M

Protocol Reserve Buffer

10%

$4.82M

Proposal Details

BIP-24 proposes a strategic reallocation of Bitway Earn's Q2 2026 reward budget totaling $48.2M USDT across four core protocol verticals. The current Q1 distribution has been reviewed by the Treasury Council and found to be over-weighted toward low-yield fixed income products relative to emerging higher-velocity strategies.

The proposed allocation increases Native BTC Lending from 18% → 25%, reflecting strong borrower demand and a 340% rise in collateral utilization since the lending module launched in January 2026.

The USDT Earn Vault remains the largest allocation at 50%, underpinned by principal-protected strategies managed through Bitway's offchain execution layer. This segment provides the yield floor for the protocol's stakers.

ɃTCT Bridge Liquidity is expanded from 10% → 15% to support the anticipated surge in cross-chain BTC settlement volume following the Bitway Ledger mainnet milestone. A 10% Protocol Reserve Buffer is maintained to buffer against any unforeseen market dislocations or smart contract remediation needs.

All reallocations are subject to a 72-hour timelock after proposal execution, during which the Guardian Committee retains veto authority. The new distribution becomes effective on April 15, 2026.

Phase 01

Proposal Submitted

Mar 28, 2026 — Bitway Treasury Council

Phase 02

Community Review Period

Mar 28 – Apr 1, 2026 — Forum discussion + Snapshot temperature check

Phase 03

On-Chain Voting

Apr 1 – Apr 8, 2026

In Progress

Phase 04

Timelock Window

Apr 8 – Apr 11, 2026 — 72-hour Guardian veto period

Phase 05

Execution & Distribution

Apr 15, 2026 — New Q2 allocation activates

Low Smart Contract Risk

All strategy contracts governing this allocation have completed two independent security audits (Trail of Bits, Zellic). The timelock mechanism adds a 72-hour window for emergency intervention. No critical or high-severity vulnerabilities were identified.

Medium Liquidity Concentration Risk

Increasing the USDT Vault allocation to 50% concentrates principal-protected exposure in a single strategy. In the event of USDT depegging or the offchain execution layer experiencing operational issues, a higher proportion of treasury capital is at risk. The Reserve Buffer partially mitigates this exposure.

Medium BTC Lending Collateral Risk

The expanded BTC Lending allocation (25%) is backed by over-collateralized on-chain positions with a minimum 130% collateral ratio. Rapid BTC price declines could trigger cascade liquidations. The protocol's liquidation engine has been load-tested for up to 40% BTC drawdowns within 24-hour periods.

Low Governance Execution Delay

The 72-hour Guardian Committee veto window could delay execution if a majority of guardians exercise veto rights. However, given that this proposal does not alter core protocol parameters and is within precedented treasury scope, Guardian intervention is considered unlikely.

High Regulatory Uncertainty

Cross-border DeFi yield strategies remain subject to evolving regulatory frameworks in multiple jurisdictions. An adverse regulatory action targeting institutional-grade DeFi lending or stablecoin yield products could require rapid strategy unwinding. The Reserve Buffer is specifically sized to accommodate this scenario.

0x7f3a…9b12

2,340,000 BWP

For

0x2c8d…4f77

1,890,500 BWP

For

0xab4e…cc09

1,203,100 BWP

Against

0x54f1…8a3d

987,400 BWP

For

0xe9a2…b640

754,820 BWP

Abstain

0x31c0…2e88

621,055 BWP

For