# Proposal for BNT to become an official governance token
**URL:** https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456
**Category:** Information and Templates
**Created:** [September 20, 2023, 10:41am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456 "2023-09-20T10:41:54Z")
**Posts on this page:** 18
**Page:** 1
### Author:  [@alphavalion](https://gov.bancor.network/u/alphavalion)
#### Post date: [September 20, 2023, 10:41am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/1 "2023-09-20T10:41:54Z")
Expected on Snapshot on October 1, 2023
This proposal is split from the discussion that has happened in this thread
> [@Bancorians for a stronger BNT](https://gov.bancor.network/t/bancorians-for-a-stronger-bnt/4434):
>
> A post surfaced in the past about retiring vBNT and Bancorians should read that proposal to get an understanding about this thread I have taken that thread and turned it into a set of proposals to get the DAO moving forward on this process. While creating proposals to sunset Bancor 3 for different tokens I skipped vBNT as it is different than the others. Now that Carbon is out on Ethereum, the discussion can continue on how to sunset vBNT. I think we will need these proposals to make this a…
and Bancorians should read that post to have an understanding about this proposal
**TL;DR**
- BNT to become an official governance token of the Bancor network
- vBNT to remain as a governance token of Bancor
**Summary**
This is a fairly simple and straight forward proposal. Bancor 3 is a protocol in the process of being sunset and to be shutdown. Bancorians should NOT have any dependency on Bancor 3. This proposal wants to have BNT be added as a governance token in addition to vBNT.
Bancorians should be able to stake BNT ANYWHERE on the Bancor site and be able get voting power in governance. This proposal is NOT looking to remove vBNT as a voting token and it will continue for now. How will BNT be made into a governance token? That I will leave to the devs, the only thing that’s important is that it happens safe manner.
# For
Make BNT a governance token of Bancor
# Against
Do nothing.
---
### Author:  [@foxsteven](https://gov.bancor.network/u/foxsteven)
#### Post date: [September 21, 2023, 9:33am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/2 "2023-09-21T09:33:17Z")
Just wanted to add a note that if people can vote with BNT, there might be a lot of BNT unstaked from B3 (as some might have BNT staked only to participate in governance) which will cause the supply of BNT to rise.
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### Author:  [@alphavalion](https://gov.bancor.network/u/alphavalion)
#### Post date: [September 24, 2023, 10:31pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/3 "2023-09-24T22:31:31Z")
foxsteven
What is the current amount of staked BNT in bancor3 that belongs to user?
I have doubts about bancorians unstaking from b3 since there is no benefit to locking bnt somewhere else for voting. It is a waste of gas and provides zero benefits.
The benefit is a more streamlined staking process for NEW tokens holders that don’t have to learn about vBNT or a deprecated protocol.
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### Author:  [@foxsteven](https://gov.bancor.network/u/foxsteven)
#### Post date: [September 25, 2023, 8:01am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/4 "2023-09-25T08:01:34Z")
You can see the amount of bnBNT to get a decent approximation.
> **[Bancor BNT Pool Token (bnBNT) Token Tracker | Etherscan](https://etherscan.io/token/0xAB05Cf7C6c3a288cd36326e4f7b8600e7268E344)**
>
> Bancor BNT Pool Token (bnBNT) Token Tracker on Etherscan shows the price of the Token $0.00, total supply 62,694,696.662702920961241756, number of holders 941 and updated information of the token. The token tracker page also shows the analytics and...
I’m not saying this is a reason to not do it, I simply don’t want people surprised or confused if this is a consequence of the proposal passing.
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### Author:  [@alphavalion](https://gov.bancor.network/u/alphavalion)
#### Post date: [September 25, 2023, 1:55pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/5 "2023-09-25T13:55:42Z")
How much of the bnBNT is owned by the users vs the Bancor 3 protocol? Can the DAO get some exact numbers?
> [@foxsteven](#):
>
> I’m not saying this is a reason to not do it, I simply don’t want people surprised or confused if this is a consequence of the proposal passing.
There is no benefit for existing Bancorians to migrate and it will be a waste of gas. I only see new BNT holders locking via the new process as it is easier. I don’t think it is much of a concern.
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### Author:  [@yudi](https://gov.bancor.network/u/yudi)
#### Post date: [September 26, 2023, 10:12am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/6 "2023-09-26T10:12:49Z")
Hey,
The bnBNT amount held by the protocol is in the BNTPool -
> **[Bancor: BNT Pool V3 | Address 0x02651e355d26f3506c1e644ba393fdd9ac95eaca |...](https://etherscan.io/address/0x02651e355d26f3506c1e644ba393fdd9ac95eaca)**
>
> The Contract Address 0x02651e355d26f3506c1e644ba393fdd9ac95eaca page allows users to view the source code, transactions, balances, and analytics for the contract address. Users can also interact and make transactions to the contract directly on...
So I took the total bnBNT supply and deducted the total owned by the protocol, then multiplied by the bnBNT/BNT ratio and the result is ~21,234,373 BNT - this is the amount currently held by all BNT LPs.
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### Author:  [@zilayo](https://gov.bancor.network/u/zilayo)
#### Post date: [October 1, 2023, 1:24pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/7 "2023-10-01T13:24:29Z")
so now that this is live for voting on snapshot ([Snapshot](https://snapshot.org/#/bancornetwork.eth/proposal/0x1c01ac0c41e3fcbe5a3fd67d5ec2acf3b8431879eb9743c390ee6c09169e5314)), I am curious:
what is the purpose of having governance at all if forum proposals are being deleted without even the opportunity for discussion? See [Reevaluate the thread deletion process](https://gov.bancor.network/t/reevaluate-the-thread-deletion-process/4471)
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### Author:  [@alphavalion](https://gov.bancor.network/u/alphavalion)
#### Post date: [October 1, 2023, 6:19pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/9 "2023-10-01T18:19:52Z")
I am reporting this post as it has nothing to do with my proposal. This topic is to discuss BNT becoming a governance token not to discuss rules around posts in governance.
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### Author:  [@zilayo](https://gov.bancor.network/u/zilayo)
#### Post date: [October 1, 2023, 8:29pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/10 "2023-10-01T20:29:17Z")
respectfully it has everything to do with the proposal.
this proposal could have an impact on vBNT, and if attempts at governance by token holders are immediately deleted then it is unclear what benefit making BNT a governance token would have.
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### Author:  [@alphavalion](https://gov.bancor.network/u/alphavalion)
#### Post date: [October 4, 2023, 4:25am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/11 "2023-10-04T04:25:23Z")
You can reply in the thread that you linked for changing the rules in the governance forums and create a proposal for it.
This proposal has nothing to do with your topic of reevaluating the deletion process.
Based on the current results, this proposal is going to pass in 12 hours.
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### Author:  [@alphavalion](https://gov.bancor.network/u/alphavalion)
#### Post date: [October 12, 2023, 10:19am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/12 "2023-10-12T10:19:14Z")
foxsteven yudi richardsonmark
Can you provide any updates to the community about timelines for this proposal?
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### Author:  [@foxsteven](https://gov.bancor.network/u/foxsteven)
#### Post date: [October 12, 2023, 2:32pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/13 "2023-10-12T14:32:20Z")
This is being work on now.
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### Author:  [@alphavalion](https://gov.bancor.network/u/alphavalion)
#### Post date: [October 16, 2023, 12:35pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/14 "2023-10-16T12:35:22Z")
foxsteven yudi richardsonmark
how long will it take to get implemented?
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### Author:  [@yudi](https://gov.bancor.network/u/yudi)
#### Post date: [October 16, 2023, 3:45pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/15 "2023-10-16T15:45:50Z")
hey @alphavalion it’s already in process - the new gov contract for BNT is already deployed and the rest is on its way.
snapshot needs to be updated as well as the app to allow staking/unstaking in governance.
probably about a week until everything is live.
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### Author:  [@alphavalion](https://gov.bancor.network/u/alphavalion)
#### Post date: [October 19, 2023, 12:13am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/16 "2023-10-19T00:13:50Z")
foxsteven yudi richardsonmark
Can you provide the Bancor DAO with an address for the new governance contract?
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### Author:  [@yudi](https://gov.bancor.network/u/yudi)
#### Post date: [October 19, 2023, 11:04am UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/17 "2023-10-19T11:04:22Z")
Hey,
Here’s the contract -
> **[BancorGovernance | Address 0xebFaFc802533F3D2835Af7464Fcd4492e8F82eB2 |...](https://etherscan.io/address/0xebFaFc802533F3D2835Af7464Fcd4492e8F82eB2)**
>
> The Contract Address 0xebFaFc802533F3D2835Af7464Fcd4492e8F82eB2 page allows users to view the source code, transactions, balances, and analytics for the contract address. Users can also interact and make transactions to the contract directly on...
Still under testing though so FYI.
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### Author:  [@yudi](https://gov.bancor.network/u/yudi)
#### Post date: [October 24, 2023, 12:29pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/18 "2023-10-24T12:29:00Z")
Hey everyone, staking/voting with BNT is now supported in the contract and on snapshot.
So technically it’s now possible to stake in the new BNT gov contract available here -
> **[BancorGovernance | Address 0xebFaFc802533F3D2835Af7464Fcd4492e8F82eB2 |...](https://etherscan.io/address/0xebFaFc802533F3D2835Af7464Fcd4492e8F82eB2)**
>
> The Contract Address 0xebFaFc802533F3D2835Af7464Fcd4492e8F82eB2 page allows users to view the source code, transactions, balances, and analytics for the contract address. Users can also interact and make transactions to the contract directly on...
and it will allow you to vote on snapshot.
The app still doesn’t support staking/unstaking BNT for gov - this will take a few more days - will update.
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### Author:  [@foxsteven](https://gov.bancor.network/u/foxsteven)
#### Post date: [November 7, 2023, 12:41pm UTC](https://gov.bancor.network/t/proposal-for-bnt-to-become-an-official-governance-token/4456/19 "2023-11-07T12:41:51Z")
Now supported in the app
app.bancor.network/vote