[HIP-25] Lito Departure

Author: Chris Whinfrey

Proposal written on behalf of Authereum Labs and Lito, jointly.

Authereum Labs and Lito have mutually agreed to end our working relationship at this time.

When Hop DAO was created, the DAO was given control of all team members service-dependent vesting HOP allocations to ensure accountability from the founders and broader team alike. Because Lito will no longer be contributing to Hop, we’ve agreed any unvested allocation should be revoked by Hop DAO via on-chain execution of this proposal. A portion of his HOP allocation has vested, is duly earned, and is his to keep but will continue to be subject to any lockups or unlock schedules in place.

This proposal will execute the following:

• The TokenLock contract at 0x313143c4088A47c469D06Fe3fA5fd4196Be6a4d6 is 22.92% vested as of February 15th, 2023. It will be revoked entirely and the vested HOP will be placed in a new TokenLock contract that will unlock on June 9th, 2023. The unvested HOP will be returned to Hop DAO.
• The TokenLock contract at 0x95C6d7128dD7Bee3a3ce74A6d16A4C90e178327e does not start vesting until June 2024 and then follows a two-year linear schedule. As such, it should be revoked entirely. All HOP will be returned to Hop DAO.

Lito has other HOP allocations from his contributions to Hop prior to the DAO launch that have vested entirely and are not listed in this proposal. These allocations will remain unchanged and in Lito’s control and will unlock linearly over 3 years with a one year lock-up.

Voting Options:
* For
* Against
* Abstain