SGP-18: Manual Migration of Remaining APW Balances Post-Bridge Expiry

Author: Gaspard Status: v1.0 Category: Governance Proposal (SGP) Created: 2026-03-09

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Summary

This proposal seeks to authorize Perspective SAS (Spectra's DevCo) to manually process migrations of remaining APW balances to SPECTRA for a period of one year following the bridge expiry. Migration requests would be batched periodically and processed only for wallets with a non-zero APW balance and a valid cryptographic signature from the requesting wallet.

Context & Motivation

As part of SIP-3: Token Migration and Tokenomics Upgrade, the Spectra DAO approved the migration from $APW to $SPECTRA at a fixed 1:20 ratio, with the migration bridge open for 52 weeks. Governance contracts, gauge voting, and protocol incentives have since moved entirely to the Base network under the SPECTRA token.

The APW token contract is immutable — it cannot be paused, destroyed, or burned — meaning APW tokens will continue to exist on the networks where they were deployed. However, with the bridge now expired, any APW holder who did not migrate during the 52-week window is left without a path to obtain their corresponding SPECTRA allocation.

There are several legitimate reasons why holders may not have migrated in time. Leaving these holders without recourse would be detrimental to community trust and fairness, particularly since the underlying conversion ratio and tokenomics remain unchanged.

Specification

This proposal authorizes the following:

1. Authorized Entity: Perspective SAS (Spectra's DevCo) is granted permission to manually process APW-to-SPECTRA migrations on behalf of requesting wallets.

2. Eligibility Criteria:

   • The requesting wallet must hold a non-zero APW balance at the time of bridge expiry (snapshot taken at bridge freeze on December 15, 2025).
   • The requesting wallet must provide a valid cryptographic signature proving ownership (signing the message "spectra migration" via Etherscan's verification tool), submitted alongside the migration request.
   • Eligible token types: APW, veAPW, and LP tokens containing APW.

3. Conversion Terms: Migrations follow the same 1:20 APW-to-SPECTRA ratio established by SIP-3 (and lock duration if applicable). No additional fees or penalties apply.

4. Duration: This authorization is valid for one (1) year from the date this proposal passes its Snapshot vote. After this period, the manual migration facility expires and no further migrations will be processed under this authorization.

5. Submission Process: Holders submit their migration request via the dedicated submission form, providing their wallet address, proof of ownership (signed message), optional Base recipient address, and contact information.

6. Processing Cadence: Perspective SAS will batch migration requests and process them periodically (punctually) throughout the authorization period at its operational discretion.

7. Transparency: Each batch of processed migrations will be publicly documented on this forum thread, including wallet addresses and amounts converted, to maintain full transparency for the DAO.

Rationale

Extending a manual migration path is a low-risk, high-goodwill measure. The conversion ratio is unchanged from SIP-3, so no new tokens are created beyond what was already accounted for in the migration framework. By requiring a valid signature from the wallet holder, the process guards against unauthorized claims. Batching requests on a periodic basis keeps operational overhead manageable for Perspective SAS while still offering a practical window for late migrants.

A time-bound authorization of one year strikes a balance between giving remaining holders a fair opportunity and providing a clear end date so the DAO can consider the APW migration chapter fully closed.

Vote Specification

• For — Authorize Perspective SAS to manually process APW-to-SPECTRA migrations for one year under the conditions specified above.
• Against — Do not authorize manual migrations; the bridge expiry remains final.
• Abstain — No preference.