Across DAO Treasury to claw back any unclaimed ACX airdrop rewards

Author(s): Britt

Summary:

The ACX token has been live for over a year now, and we'd like to allow the Across DAO Treasury to claw back any unclaimed tokens from the airdrop.

Motivation:

The ACX token launched over a year ago, and any airdrop-eligible wallets have been able to claim at any time up until now. The airdrop was intended to reward early users of the protocol, and it makes sense to end claimability at some point. Of the ~111M tokens originally allocated to the airdrop, only ~6M remain. This is a pretty strong claim rate, and we believe that it's time for any remaining ACX to return to the treasury.

Specification & Implementation:

To give potential airdrop recipients one last chance to claim, this proposal will be set up in a way that provides a buffer between passing and execution. This implementation does not use oSnap and needs to be executed manually. Should this proposal pass, this is the anticipated timeline of action:

Dec 18 - proposal goes live Dec 25 - voting ends Dec 27 - announce if the proposal has passed and provide claim instructions + deadline of Jan 2 to claim. Jan 2 - Across DAO executors call two functions on the Merkel Distributor contract that was used for the ACX airdrop to execute the claw back.

• deleteWindow to invalidate all further claims
• withdrawRewards to remove all claimed funds back to the Across DAO treasury.

Rationale:

To execute this via oSnap, and give people one last chance to claim their airdrop, it would need to be done through separate 3 votes. We decided that it would be a better voter experience to simply have this be 1 vote followed by manual execution.

Voting:

A "Yes" vote leads to ~6.7M ACX (or whatever remains after last-minute claims) being clawed back to the Across DAO Treasury. These tokens become no longer claimable, and the airdrop is officially over.

A "No" vote means that no actions are taken on the ~6.7M remaining ACX in the airdrop Merkel Distributor contract.