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MorphoMorphoby0x2286f24f5662D3a0E4806a0262B69Da0DB1Ee51dpaulframbot.eth

MIP75 & MIP76 Minor technical adjustments

Voting ended about 1 year agoSucceeded

The Morpho DAO has recently passed two proposals involving the MORPHO token:

  1. To implement an upgradeable wrapped token (https://snapshot.org/#/morpho.eth/proposal/0x53c5f01dac396b97650f37fccfa0910457b27a1fc06c5ec5d54ee0e6e5408180) that will enable onchain governance and other functionality, and make this the primary form of the MORPHO token for integrations
  2. To make the MORPHO token transferable (https://snapshot.org/#/morpho.eth/proposal/0x0657c83ada33fe85478672483c81dd1c11282b633031c0ff60f5a06417b5ef52)

This situation creates a risk that users will accidentally use the legacy MORPHO token instead of the wrapped one when using external integrations like decentralized exchanges, potentially resulting in loss of funds.

This is a proposal to amend the technical implementation steps for these proposals such that only whitelisted contracts such as the wrapper, bundler, and onchain vesting contracts can transfer the legacy MORPHO token, but EoAs cannot, ensuring that the risk described above is prevented. All users will still be able to freely convert 1:1 between the wrapped and unwrapped forms at any time.

Off-Chain Vote

For
3.56M MORPHO100%
Against
10.22 MORPHO0%
Abstain
0 MORPHO0%
Quorum:712%
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Timeline

Nov 07, 2024Proposal created
Nov 07, 2024Proposal vote started
Nov 10, 2024Proposal vote ended
Nov 14, 2024Proposal updated