Loss of CDT to the SSV token upgrade contract

Summary of Proposal

Dear All, This proposal is about an honest mistake that was made during the process of a token upgrade of CDT to SSV.

CDT tokens were sent to the SSV token upgrade contract with a “Transfer” function instead of “Convert” function, thus making those CDT tokens lost in the contract without the issuance of new SSV tokens back to the sender’s address as should have been.

The transaction was made a few months ago, and can be seen below: https://etherscan.io/tx/0x3841d711a66009acca799717bb537f76589b2db4e8c8ed2e5e7808399a89c6be

Why was this mistake made?

SSV documentation stated that “A simple CDT deposit into the TokenUpgrade contract will send SSV tokens back to the sender”. I later found this not to be true.

Source: Snapshot

Proposal Details

My proposal is basically to allow the SSV DAO to mint new tokens and send the newly minted tokens back to the sender’s address (0x697302628be3dd222da2c817b405c561ac25fdea) the appropriate amount according to the original CDT → SSV token upgrade process.

According to the above mentioned transaction, a total of 214,691 CDT tokens were transferred to the SSV contract, which applies for 2,146.91 SSV tokens (1:100)

So a total of 2,146.91 SSV tokens should be minted and issued to the address 0x697302628be3dd222da2c817b405c561ac25fdea

The CDT tokens are effectively burned as there is no way to withdraw them from the contract.

Non-technical ELI5 of proposal

A total of 2,146.91 SSV tokens should be minted and issued to the address 0x697302628be3dd222da2c817b405c561ac25fdea due to wrongly sent CDT tokens to the ssv token upgrade contract which are now lost in the contract.

Motivation for Proposing

An honest mistake was made due to unclear language in official documentation. This proposal seeks to rectify this mistake, your support is highly appreciated

Reasons supporting the proposal

A mistake was made due to misleading documentation, let’s fix it. Circulating SSV supply will not be affected as the tokens are locked forever in the conversion contract.

Reasons against the proposal

Total supply will increase by a miniscule amount. (No change to circulating supply as tokens are locked forever in the conversion contract…)