Proposal Title: Return BIT Mistakenly Sent to Contract Address at a rate of 90%
Return BIT mistakenly sent to the contract address. I̶f̶ ̶t̶h̶i̶s̶ ̶i̶s̶ ̶n̶o̶t̶ ̶p̶o̶s̶s̶i̶b̶l̶e̶ ̶f̶r̶o̶m̶ ̶t̶h̶e̶ ̶c̶o̶n̶t̶r̶a̶c̶t̶ ̶a̶d̶d̶r̶e̶s̶s̶ ̶i̶t̶s̶e̶l̶f̶,̶ ̶t̶h̶e̶n̶ ̶t̶h̶r̶o̶u̶g̶h̶ ̶a̶l̶l̶o̶c̶a̶t̶i̶o̶n̶s̶ ̶f̶r̶o̶m̶ ̶t̶h̶e̶ ̶t̶r̶e̶a̶s̶u̶r̶y̶ ̶f̶u̶n̶d̶.̶ ̶D̶o̶ ̶t̶h̶i̶s̶ ̶f̶o̶r̶ ̶t̶r̶a̶n̶s̶f̶e̶r̶s̶ ̶a̶b̶o̶v̶e̶ ̶a̶ ̶s̶p̶e̶c̶i̶f̶i̶c̶ ̶t̶h̶r̶e̶s̶h̶o̶l̶d̶,̶ ̶a̶n̶d̶ ̶a̶t̶ ̶a̶ ̶r̶a̶t̶e̶ ̶o̶f̶ ̶9̶0̶%̶ ̶a̶s̶ ̶a̶ ̶m̶e̶c̶h̶a̶n̶i̶s̶m̶ ̶t̶o̶ ̶a̶v̶o̶i̶d̶ ̶e̶x̶p̶l̶o̶i̶t̶a̶t̶i̶o̶n̶.̶ ̶C̶o̶n̶s̶i̶d̶e̶r̶ ̶t̶h̶e̶ ̶o̶r̶i̶g̶i̶n̶a̶l̶ ̶B̶I̶T̶ ̶t̶o̶ ̶b̶e̶ ̶b̶u̶r̶n̶e̶d̶.̶
Furthermore, encourage industry partners to implement a mechanism that notifies any individual who is attempting to make a transfer to the contract address.
**EDIT: Upon further investigation into the contract, it appears that the dev is able to transfer funds out of the contract address. I would like to amend this proposal to a 90% return of funds, with 5% going to the treasury, and 5% (up to a maximum threshold) going to a developer’s fund.
Authors: deefs. Apologies if my proposal is lacking in any way, has any glaring holes / gaps, or is based on any fundamental misunderstandings. I’m very open to criticism, including “well that sounds like a you problem” (it really is, you wouldn’t be wrong).
I’ve been lurking DAO boards for a bit (hehe), and when I made this mistake myself (this morning on my way to class uwu) I figured it was an opportunity to look for a solution through our Governance process. I was actually transferring out of Bybit so that I could delegate!
Date: October 18th, 2021.
How will your proposal, if activated, benefit BitDAO?
Besides contributing to the treasury, this would demonstrate mercy on those who made this mistake, while still disencentivizing exploitation through the treasury contribution.
For some, lost value can be a life-changing set of events that directly relates to real challenges (my Bybit drop was going to help me pay my tuition this semester!). This would implement a solution that would not only
What are the projected outcomes?
The return of value to those community members who have mistakenly sent their BIT into the figurative black hole that is the contract address.
The adoption of an industry wide ‘best-practice’ in which attempts to transfer or withdraw a token to its contract addresses are identified, and would require prior whitelisting with a notification requesting confirmation.
How long will it take to complete your proposed changes?
This I, unfortunately, do not have the expertise to answer with any degree of accuracy.
Who is involved?
Predominantly those who have mistakenly sent tokens to the contract address, though this has a tangible effect on the whole of the BitDAO community.
Industry partners for the adoption of the aforementioned ‘best practice’.
What are the milestones?
The return of tokens.
The implementation of said ‘best practice’ by our industry partners.
Again, I do not have the expertise- but I imagine there would be a way to automate this effectively.
Next Steps? If this proposal is accepted, what are the immediate action items?
Providing a form for requests dating back to the inception of the protocol.
Thanks for your time! <3