MFIP-3: $MST on Base token migration

Summary Please be aware that this Snapshot has a shortened 24-hour voting window, as the proposal includes the temporary removal of the MST-ETH liquidity pool and bridge unlinking.

MFIP-3's Snapshot proposes the following main points:

• Migrating the current $MST token on Base to a new contract, while MST tokens on other networks will remain unchanged. The total supply will remain at 10 million tokens.

• This token migration will not affect any users that have interacted with their MST tokens on the base network since the TGE. Any accounts that have not interacted with the tokens, will be affected.

• A 2 week grace period will be provided post migration for any users who did not receive the new airdrop to make representation to the team to receive the new MST token.

• The Meridian Bridge will temporarily be disconnected from Base while upgrades are made.

• A new liquidity pool will be deployed on Aerodrome with the exact same ratio and token amounts post migration.

Rationale Meridian has always been a community-first protocol, as reflected in many of its key decisions. One of the major commitments made during the MST TGE event was the airdrop of 30% of the MST supply to active users of a previous project, Omnidex, aiming to onboard the same dedicated community into Meridian.

However, on-chain analytics indicate that 6.7% of the $MST supply is currently held in accounts that have never made a transaction on the Base network, claimed the MST or interacted with Meridian. Removing these dormant tokens will bring several benefits to the Meridian ecosystem:

• Reducing Future Selling Pressure: Meridian is strategically built to preserve and grow value for $MST holders and all users. Allowing inactive recipients to re-enter the market later and sell large amounts of free tokens could pose significant risks to our growth and revenue distribution model.

• Raising Funds for Growth: Tokens transferred to the PoL can be strategically utilized to secure funding for future development and expansion. We are already exploring this route, with ongoing efforts behind the scenes to strengthen Meridian’s long-term vision and products offering.

Voting Yes - The $MST migration on Base will take place with new tokens airdropped to active users, liquidity redeposited, and 674,407 MST transferred to PoL (more about PoL - MFIP-4)

Voting No - No migration will be made.