$ELP-1 compensation plan

As per discussions with the community, the team is putting forth the following proposals regarding the $ELP-1 compensation for those affected on Arbitrum regarding the exploit which occurred on the 30th of May 2023.

Key details:

1. Whatever cost is incurred by the treasury will be net neutral as whatever $ELP-1 is removed will be replaced with the corresponding $EDE tokens.

2. Whatever $EDET is required to be minted to facilitate option 1 / 2 of this redemption plan, the corresponding $EDE will be injected into the treasury to ensure $EDET is not devalued through this process.

3. Assuming option 1 or 2 is selected, compensation can occur within 24hours of the end of the proposal time, with the estimated time for this occurring to be roughly the 19th of June 2023.

4. Option 3 has no timeline for completion as there is no way to estimate when the required $238,000 can be raised.

The proposal has 4 voting options. These options are:

Option 1 Complete the $238,000 compensation plan, $90,000 of $ELP-1 to be distributed to recipients eligible for compensation and the remaining $148,000 to be distributed in $EDET.

Option 2 Complete the $238,000 compensation plan, $119,000 of $ELP-1 to be distributed to recipients eligible for compensation and the remaining $119,000 to be distributed in $EDET.

Option 3 Delay compensation entirely until $238,000 can be distributed in stable coins or stable coin equivalents.

Option 4 Reject proposed proposals and go back to discussion until a better proposal has been established by the community.

If option 1 or 2 is selected, compensation can happen on roughly the 19th of June 2023.

Data surrounding the compensation can be found using the following spreadsheet link: https://docs.google.com/spreadsheets/d/136-ZxqeuxmuZWlJa6naRe_Kgy08Ukkoze3W2F30n26o/edit#gid=961202563