RELP 6 - Termination of $REL Token Claims and Disposal of Unclaimed Tokens

Abstract:

The claiming period for the $REL tokens from the First Season of REL Airdrop 4 will conclude on July 2, 2024. This proposal outlines two options for handling unclaimed tokens: burning them by sending them to a blackhole address, or returning them to the DAO reserve for future deployment. Both courses of action are designed to encourage active participation in our protocol and help maintain token value stability.

Motivation:

Despite allocating a significant share of 50,000,000 $REL tokens for the airdrop, approximately 80% of these tokens have remained unclaimed, and several addresses are no longer active in the Relation Protocol. To address this situation and ensure efficient token distribution, we propose two approaches for handling the remaining unclaimed tokens: burning them or transferring them into the DAO reserve.

Key Terms

• To Burn $REL: To send all unclaimed $REL tokens to a blackhole address, effectively removing them from circulation. This action will reduce the total supply of $REL tokens and potentially increase the value of the remaining tokens.
• To Return $REL: To transfer all unclaimed $REL tokens to the DAO reserve for future deployment in initiatives that benefit the Relation Protocol ecosystem. This option allows for more flexibility in utilizing the tokens to support the growth and development of the protocol.

More details:

https://forum.relationlabs.ai/t/draft-termination-of-rel-token-claims-and-disposal-of-unclaimed-tokens/118/1

The Vote:

The vote will take place on Snapshot from June 24th, 12 PM UTC to July 1st, 12 PM UTC.

Each $REL holder possesses the same voting weight, regardless of the amount of $REL held.