BitDAO Launches Community Proposal: 1% $BIT to 1% $FTT

TokenInsight reports that Alameda has launched a proposal to "convert $BIT to $FTT" on the BitDAO forum. The proposal is to convert 100 million $BIT (1% of total $BIT) to 3,362,315 million $FTT (1% of total $FTT) and both parties will commit not to sell their token holdings for three years. Voting will open on October 20 and will last for 10 days.