Should blacklisted wallets have their remaining tokens vested after returning excess tokens?

FLOKI’s first DAO vote conclusively decided that blacklisted wallets that gained excess tokens during the V1 to V2 migration due to an inflation bug should return these tokens.

According to data from the committee set up to review cases related to the inflation bug:

~1.3 trillion extra tokens were gained by blacklisted wallets due to the bug and should be returned. ~346 billion tokens are legitimately owned and will be retained by affected wallets.

However, we’ve received several reports (from credible sources!) that some of the blacklisted wallet owners are planning a coordinated dump of the remaining tokens they get to exact “revenge” on the project.

Since we owe it to the FLOKI community to protect their interests, especially in light of key information like this, we’re putting a proposal to the DAO to decide on whether or not to vest these tokens in the interest of the project and the community.

If this proposal passes:

After sending back the excess tokens, wallets currently on the blacklist will have what should be their actual tokens vested for a period of 6 months with a monthly release schedule until they get all their tokens back. This makes it impossible to coordinate the kind of “dump” that some of the affected parties are plotting (which can negatively affect the project!).

Some other minor additions if this proposal passes:

The vested tokens will have a nominal interest rate of 5% to offset the inconvenience this might cause the affected holders due to not having immediate access to their tokens.

As a mitigating factor, blacklisted wallets that held or bought more since V1 will get a 5% bonus of what should be their actual tokens (after the excess tokens they got has been returned!). As a mitigating factor, blacklisted wallets that should get back zero tokens when the excess tokens have been returned (due to having sold their “actual” tokens) will get 5% of what they held – provided they have never sold up to $1 million in FLOKI tokens combined. This is a goodwill gesture considering their emotional investment in the project and also incentivizes them to send back the excess tokens.

Affected wallets that purchased after the blacklist (on the V4 contract, mostly to qualify for the Gemstone NFT incentives) will have the tokens they purchased post-V4 upgrade immediately released since it was purchased after the blacklist since the aim of the blacklist is to address the V1 inflation bug (this applies ONLY to tokens they bought after the Nottingham/V4 upgrade).

In all, the above ensures the interest of the FLOKI project as a whole is protected while also taking into consideration the feelings of the blacklisted wallet owners and their emotional investment in the project.

While we believe that owners of these wallets have a right to sell their tokens when they so choose, we believe that information about coordinating selling of these tokens in an attempt to harm the project shouldn’t simply be ignored.

With this proposal, the DAO will decide whether these remaining tokens should be vested or not – and the DAO’s decision will be binding.

More importantly, in order to allow people who truly choose to exit in a non-malicious way to do so without infringing on their rights, owners of blacklisted wallets who want to exit their position immediately can do so securely through an OTC arrangement with our institutional partner Wintermute – since they can exit their position without the tokens being immediately dumped to drain the liquidity pool. Details will be communicated to those who prefer this option.

So this proposal is a simply YES or NO proposal:

If you vote YES, the proposal to vest the remaining tokens held by blacklisted wallets (after excess tokens have been returned), as well as the other minor additions/mitigating factors detailed above, will pass.

PS. Votes from inflated tokens won’t count and will be manually excluded.