FLOKI DAO VOTE: Should excess tokens from blacklisted wallets be returned?
The Nottingham Upgrade uncovered a critical V1 inflation bug that resulted in people getting excess tokens. Some of the beneficiaries have gone on to sell these excess tokens in a way that has harmed the project by putting unnecessary downward pressure on the project liquidity pool. In the interests of FLOKI, the largest beneficiaries (whose actions could most negatively impact the project) were blacklisted based on a cut off. A committee was then set up to review these cases on a case by case basis.
This DAO vote will decide what happens to the blacklisted wallets.
The DAO can vote that they return the excess tokens to the project's multisig wallet before their wallets is released from the blacklist or that they should be allowed to retain the excess tokens.
If the DAO votes to take back the excess tokens, these tokens will be set apart in a separate wallet where another DAO vote will take place in the future to determine what happens to them.
If the DAO votes that the wallets be released, everybody on the blacklist will be cleared.
You can read our official Medium update for a full breakdown of the inflation bug and how it was addressed:
Before we remove a wallet from the blacklist, should they return their excess (V1 inflation bug) tokens?
Off-Chain Vote
Yes, return excess tokens.
2.16T 85.9%
No, keep excess tokens.
355.77B 14.1%
Timeline
Feb 09, 2022Proposal created
Feb 09, 2022Proposal vote started
Feb 11, 2022Proposal vote ended
Mar 24, 2025Proposal updated