IDIP-4: Dissolution of IDRISS DAO

This is an optimistic approval. If you agree with this proposal, you don’t need to vote.

Vote options: • VETO — Reject the proposal • ABSTAIN — Do not reject (neutral, does not count toward quorum)

Quorum to veto: 14,299,660 IDRISS

IDIP number: IDIP-4 IDIP title: Dissolution of IDRISS DAO Date created: April 9, 2026 IDIP type: Metagovernance

Abstract This proposal initiates the formal dissolution of IDRISS DAO. It covers the handling of DAO-held liquidity on Aerodrome and Uniswap, the burning of remaining DAO- and team-held tokens, and instructions for direct smart contract interactions after wind down.

Motivation Continuing IDRISS would require both capital and operational capacity that are no longer available to the DAO. Following several weeks of private outreach and a public call for ideas and partnerships, no viable path forward materialized. The IDRISS apps will be discontinued by the DAO's service provider, who is no longer in a position to continue contributing. Dissolution ensures contributors and tokenholders can conclude with clarity and fairness, rather than leaving the DAO in an indefinite inactive state. Should this proposal pass, the managing members will initiate the formal dissolution of IDRISS DAO with the government of the Marshall Islands.

Specification

App wind-down The IDRISS apps, vault interface, and Discord server will be shut down on May 31, 2026. Users should withdraw funds and/or export their wallet from the app interface before this date. Token holders with locked tokens in the vault should claim their tokens and any accrued APR from the app interface before May 31.

Contributor token treatment Founding contributors conclude with zero tokens. Team contributor vesting contracts have already concluded, with vesting according to time spent contributing. Community contributors retain full vesting running through January 2028.

DAO-held liquidity (Aerodrome & Uniswap) and treasury The DAO's LP positions on Aerodrome and Uniswap will be donated in full to Gitcoin (0xBc1652d85AFa5148207Ae0Bc3C906c5C6dBcBbF2), with a lockup until the end of January 2028 applied before the recipients gain control over the positions. Additionally, the DAO’s treasury assets (currently worth less than $20 spread across several tokens) will be donated to Gitcoin. Six-figure liquidity should not remain idle without an active project to support, and is instead directed toward valuable work within the ecosystem. The donation will be unlocked only after community contributors complete vesting in January 2028 to ensure all token holders, including them, have sufficient time to exit. The DAO and its members relinquish all future control and claims over these liquidity positions upon execution of the transfer. After the lockup period, the recipient organization has full control over the liquidity and may withdraw the liquidity in full.

This approach is consistent with the RMI DAO LLC dissolution requirements docs.midao.org, under which any remaining assets after winding up must be conveyed to another charitable organization or non-profit entity engaging in the same activity or purposes. Both IDRISS and Gitcoin are projects supporting the open-source Ethereum community and enabling donations to others, making this transfer consistent with the requirement.

Token burns As part of the dissolution, all remaining DAO- and team-held IDRISS tokens will be burned by sending them to 0x000000000000000000000000000000000000dEaD, to remove any future smart contract or custody risk that could affect positions of token holders. Note that the actual null address (0x0000000000000000000000000000000000000000) is not a valid recipient in the IDRISS token contract and cannot be used.

The following SAFE multisigs will send the full IDRISS balance and remaining vesting streams to the burn address: Treasury tokens: 0x0186B0018082B35E53c084c9389659B8562ca956: full balance minus 1,538,416,474,536,093,138,893,895 wei (~1.54M IDRISS) reserved for vault APR rewards, which remain claimable through the rewards contract. Team tokens: 0xECAe5326474144FeAc16c7Fc574107B0623ED3d6: full balance. Unclaimed airdrop tokens: 0xADCFcC97cC9152f775197c3aD864E7A559C3BdB5: full balance.

Smart contract interactions after wind down Instructions for claiming tokens and withdrawing from the vault directly via smart contract after the app interfaces are discontinued are available in the IDRISS GitHub Repository.

Backwards compatibility This proposal does not retroactively affect any past decisions, contributor agreements, or previously processed governance actions.

Security considerations Donating the liquidity positions introduces a dependency on Gitcoin’s multisig. The address should be verified before execution. After the lockup period (January 2028), the recipient has full discretion over the positions, including the ability to withdraw the liquidity in full. This would result in the inability to trade IDRISS. All known DAO-controlled assets are accounted for and addressed within this proposal.

Release of liability and duties Upon completion of the items listed in this proposal, including the formal dissolution filing with the government of the Marshall Islands, all contributors and affiliated parties are permanently released from any and all operational responsibility, administrative duties, fiduciary duties, or ongoing obligations relating to DAO assets, execution of this proposal, or the winding down of the DAO. To the maximum extent permitted by applicable law, no such party shall have any continuing duty, liability, or responsibility to monitor, manage, control, or intervene in any assets or contracts referenced in this proposal following its execution.

Copyright waiver Copyright and related rights waived via the CC0 1.0 Universal license.