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Fortress DAOFortress DAOby0x57E04786E231Af3343562C062E0d058F25daCE9E0x57E0…CE9E

Proposal: move redemption date to after Wonderland ragequit

Voting ended about 4 years agoSucceeded

When the previous time-limited redemption proposal passed, it appeared that Feb 25th would provide enough time to exit positions for redemption. However, the Wonderland ragequit was delayed by several weeks.

If this proposal passes, the following will change from the approved plan:

  1. The trigger date will be the 25th as passed.

  2. A new snapshot proposal will be using the same block as this proposal, in which people will be able to vote whether they want to redeem in USDC or FUSD. There will be no fee for USDC redemption.

  3. 90% of the LP will be removed immediately in order to not allow more buys in, due to the snapshot made to list all holders who can get into the redemption. (After this snapshot, new wallets or purchases CAN NOT REDEEM)

  4. If redemption is triggered, a whitelist will be prepared with all the addresses that voted in the proposal in 2 and a contract will be released with the full amount of USDC and FUSD needed to redeem everyone. After redemption is complete, liquidity will be set to 10% of the circulating supply, subtracting any tokens held by FUSD.

The amount per wsfort is currently expected to be approximately $56.39, but this is subject to change as the treasury changes.

Off-Chain Vote

For
151.28K 74%
Against
52.87K 25.9%
Abstain
356.51 0.2%
Download mobile app to vote

Timeline

Feb 22, 2022Proposal created
Feb 22, 2022Proposal vote started
Feb 23, 2022Proposal vote ended
Oct 26, 2023Proposal updated