K9 DAO Chain Selection Vote: Where Should Replacement KNINE Be Minted?

Proposal Details

Following the Shibarium bridge exploit, ~25% of the KNINE supply was stolen, leaving the ecosystem in a broken state where the compromised bridge remains uncompensated, holders on Shibarium cannot exit, and the token’s original economics cannot function without corrective action.

The DAO evaluated multiple post-exploit pathways in the governance paper and subsequently moved the strategic pathway decision to Snapshot, where Option 5 passed (52.12%).

Winner requires >50% of votes.

If no option exceeds 50%, the top 2 options by vote share advance to a runoff Snapshot vote.

In a runoff, highest % wins.

What Option 5 means operationally (high-level):

Phase 1: Shut down Shibarium operations to reduce costs and preserve runway

Phase 2: Mint replacement KNINE on a new chain to make affected users whole

Purpose of this vote: This Snapshot vote selects which chain will be used to mint the replacement KNINE (the stolen ~25%). It is strictly a settlement/mint location decision.

This vote does NOT decide: launching liquid staking on the chosen chain

a new product roadmap

broader ecosystem expansion

Any of those would require separate proposals, budgets, and execution plans.

Why these options: The forum discussion explicitly raised and discussed multiple candidate chains - including Base, BNB, Arbitrum, Avalanche, and Polygon.