LEASH V2

Blogs

• LEASH v2 Unified DAO Proposal — Community Blog
• LEASH Investigation — How Supply Changed Despite Renounced Claims

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TL;DR

• Issue: LEASH v1’s supply was increased through a still-active rebase pathway despite apparent ownership renouncement, causing ~20%+ dilution from the ~107,646 baseline.
• Proposal: Migrate to LEASH v2, a fixed-supply, audited token, using the last trusted pre-rebase snapshot with fairness filters.
• No Free Airdrop: v2 will be a burn-to-claim swap — you must burn v1 to claim v2.
• xLEASH / veLEASH and Metaverse Lock Stakers: Must unstake/unlock and burn-to-claim.
• Shibarium Bridge Users: Will be handled separately.
• LP Providers: Policy to be announced.

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Options Considered

Option A — Pre-Rebase Snapshot

Pros

• Reverses unauthorized dilution.
• Strongest ethical stance.
• Protects long-term holders.
• Sets clear precedent against manipulation.

Cons

• Post-rebase buyers may feel penalized.
• Some CEX reconciliation complexity.
• Requires careful messaging.

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Option B — Current State Migration

Pros

• Simplest operationally.
• Minimum friction for CEXs/DEXs.
• No immediate losers.

Cons

• Legitimizes manipulation.
• Long-term holders remain diluted.
• Damages trust.

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Option C — Pro-Rata Reduction to Original Supply

Pros

• Equal percentage treatment.
• Mathematically returns supply to intended cap.

Cons

• Punishes good and bad actors alike.
• Ignores injustice.
• Complex to communicate.

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Option D — Hybrid with Penalties

Pros

• Maximizes fairness and deterrence.
• Acknowledges different behaviors.

Cons

• High classification complexity.
• Potential appeals volume.
• Legal/PR risks.