Middle Ground - Fastest Solution - Stronger Together
- 1:35 Swap Ratio AKRO:ADEL
- A middle ground where all parties concede a little, but the negative effects on all sides are minimized.
- Fastest solution that does not require discussing $ values of either token at any given time, and allows team and community to come together and move forward stronger.
- ADEL is removed from circulation - Delphi v1 is not continued. This is to avoid confusion of multiple tokens, and any further division of Akropolis community.
- If proposal is chosen the community is given 5 days to allow any who do not wish to go through with mandatory swap to sell. The aim of this is to have the quickest timeframe possible that is acceptable.
- The swap will be based on a snapshot of ADEL holdings taken at the teams discretion + any rewards accrued since + all vested rewards.
- All vested rewards remain in current vested schedule but as AKRO tokens, with the option to vote later on changing vesting schedule or vesting generally.
- As has been discussed in previous proposal, in the hack on Kucoin exchange 283 million AKRO were stolen and subsequently frozen by the team to avoid being sold. These are effectively burnt and can be used to offset this merge from the teams burden to supply AKRO tokens. If we reallocate those tokens (in a manner technically suitable to the team) to this merge, the remaining ~ 117million tokens is far less burden on the team than would have been otherwise and that saved $ can be used for potential future developments at the teams discretion.
- Overall this proposal would allocated roughly 400million AKRO to the entire ADEL ecosystem which is only 10% of the entire AKRO ecosystem. This is a middle ground valuation ratio that will bring value to AKRO by bringing the community together whilst not effecting AKRO by significant dilution, and allowing team to quickly move forward and focus on yEarn merge, integration and development.
The two token system has created division amongst the Akropolis community and we should return to one token as quickly and efficiently as possible, allowing us to move forward stronger together. This proposal seeks to find a middle ground in which all parties are brought together, and in fairness, all parties concede a little. By using the Kucoin hack as a means to supply this merge, we will effectively take a bad situation that was beyond our control and turn it into a good solution to help us move forward. Those stolen tokens will make up the majority of the tokens used to swap ADEL into AKRO.
~10% of AKRO supply will be allocated to ADEL merge. ADEL will be removed from circulation and officially dropped. Delphi v1 will be decommissioned and officially closed. All focus will be on AKRO and Delphi v2 alongside the yEarn ecosystem.
Technical Specification (Optional)
The team should decide the best path technically in order to reallocate the stolen tokens from the Kucoin hack. Most likely the stolen tokens remain frozen or ‘burnt’ in the inaccessible wallet, and new tokens are minted to take their place, however their may be a preferred option for them to decide