Nothing can happen before,

1. A vote of M holders gives a green light to change things
2. PJ says he is willing and able to make these changes

The advantage of your CKG option is it doesn't require either of the above, and maybe most M holders agree with you, but the worth of the IOU token depends 100% on the credibility of who issues it, and everyone knows E1 iOU was backed by risto and is worthless now despite his good rep when he created it, so too was b1 after he added unbacked tokens into the wild. Reputation can't beat a blockchain for player confidence.

I don't see a problem with your CKG bounty, so keep it, just be realistic about what good it will do. It's not a blockchain solution, and only good if the person who issues it has great reputation, and your bounty only requires reputable exchange, not reputable issuer of the IOU.

I have approx 800mil M, and without a depository I can't buy more M yet, so my voice is small, but I plan to buy M when I can.

When in doubt ask the game owners to decide things.