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PlutusPlutusby0xb0E6686645136185390426B4A5c4083B2363337D0xb0E6…337D

PRFC-16: Burn 12M $PLS from defunct vesting contract

Voting ended 8 months agoSucceeded

Overview

There are 12M PLS in 0x00e314654ba860c7146e1a973590f16a67e19624 which is labeled as "defunct team vester" in the transparency report which was published before setting the vote on the fate of the protocol.

These 12M $PLS tokens also are deducted from circulating supply in calculations both internally and in e.g. coingecko.

Screenshot 2025-06-09 at 22.53.22.png

The vester contract doesn't allow to retrieve the tokens because it checks against whether the retreived token is checked against ths pls contract and reverts with "token = underlying"

function retrieve(IERC20 _token) external onlyOwner {
    require(_token != pls, 'token = underlying'); <-- reverts if retrieval is attempted

    if (address(this).balance > 0) {
      payable(owner()).transfer(address(this).balance);
    }

    _token.transfer(owner(), _token.balanceOf(address(this)));
  }

Proposal

Because the tokens are not considered circulating, they are not retrievable, and they are referred to as being in a "defunct vester" we propose to burn the 12M tokens in the contract to show a concrete reduction in potential conversions to $PLUTUS by reducing the total and maximum supply of PLS from 100M to 88M.

Voting Options

FOR – burn tokens in 0x00e314654ba860c7146e1a973590f16a67e19624 AGAINST – do not burn tokens ABSTAIN – count towards quorum without expressing a preference

Off-Chain Vote

For
10.99M bPLS100%
Against
0 bPLS0%
Abstain
0 bPLS0%
Download mobile app to vote

Discussion

PlutusPRFC-16: Burn 12M $PLS from defunct vesting contract

Timeline

Jun 09, 2025Proposal created
Jun 09, 2025Proposal vote started
Jun 12, 2025Proposal vote ended
Jun 12, 2025Proposal updated