Amend veSQUID Locking Deadline to Enable Payouts for Late Lockoooors

TLDR: Retroactively extend deadline for veSQUID locking to match community Medium deadline of December 20, 2021, 0500 UTC. Leading to an additional payout for such lockers of 0.05337 wsSQUID. This amount should be paid out of treasury by market buying required SQUID, wrapping, and disbursing using disperse.app or by extracting the relevant amount of SQUID out of the LP and disbursing through disperse.app.

For: Yes, amend the deadline and authorize the payment of additional SQUID rewards either out of treasury or LP - at the discretion of the team

Against: No, do not amend the deadline, no additional payment authorized

Context

On December 11, veSQUID was announced to be live in this Discord message with deadline to be December 20th, 0500 UTC. https://discord.com/channels/899531896571187210/899600248836591637/918906293165654046

Later on December 11, veSQUID deadline was adjusted to be 7 days from the first lock, which would be approximately December 18th, 0000 UTC https://discord.com/channels/899531896571187210/899600248836591637/919241398774022154

On December 13, veSQUID explainer article was published to Medium which referenced the original December 20th, 0500 UTC deadline. https://discord.com/channels/899531896571187210/899600248836591637/919953127476719726

On December 18, 1200 UTC, bonding fee payments were made. According to data received, the total amount paid out was ˜1.22756 wsSQUID, of which 0.61378112 wsSQUID was reserved for veSQUID holders. This was publicly announced in Discord on December 20. https://discord.com/channels/899531896571187210/899600248836591637/922496974459134022

Problem

On December 21 onwards, a number of messages in Discord suggested that a lot of would-be lockers had not received their rewards. After some digging it was established that there was a significant disparity in when people thought the deadline was. FUD ensued.

Solution

To adjust the locking deadline retroactively to December 21, 0500 UTC to match the SquidDAO Medium. This will ensure that all community members had a fair and equal shot at locking and that all such early adopters are suitably rewarded. The Numbers

https://docs.google.com/spreadsheets/d/1Yl7sdhCnVsLUc8ZcURO-Ae0UV95ZA04oRFXP0JctocA/edit#gid=0 Sets out the basis for the calculations below.

Based on data received from the Devs, we can establish: -- There was a balance of 9.3115 veSQUID as of the official locking deadline. -- A further 0.8868 veSQUID was locked between the actual deadline and the deadline in the Medium which is the most charitable deadline we can give the community. -- There was a fixed amount of wsSQUID to be distributed to all veSQUID holders of 0.6138. -- If we assume a new balance of 10.1983 veSQUID, we can then calculate those people's pro rata shares as per the spreadsheet to calculate each wsSQUID reward. -- The total missing reward is 0.05337 wsSQUID. This is the amount to be paid out to the addresses noted in the spreadsheet.

Pros & Cons

Pros: -- Community is upset at the mistakes in communication and believes this is symptomatic of a larger issue - we can try and right this mistake by fixing and providing those who were eligible with their rewards -- Amount is relatively negligible but will earn us kudos for doing the right thing as a DAO - at least from the majority community's perspective as voiced on Discord -- There are 30+ lockers that will benefit from this (out of a total of 130+) - so this is a small price to pay for making good with a large segment of our Diamond Tentacles. -- Market buying the SQUID may have a (v. small) positive impact on SQUID price

Cons: -- By having a smaller balance of 9.3115 to share the initial 0.6138 wsSQUID, those that locked at or before December 18, 2021 will have received a slightly larger portion than they would have had we had measured the balance as of December 20, 2021. Given we can't realistically get these disbursed tokens back, we need to be comfortable with this windfall for our early adopters. -- Will cost SQUID to fix this communication error

Next Steps, If Passed

-- Communicate on Discord that this proposal has been passed -- Make public the spreadsheet so that parties can check and ensure that the numbers are accurate -- To work with the team to ensure that the wsSQUID can be market bought / extracted from LP within 48 hours of this snapshot passing and disbursed to the relevant addresses immediately thereafter.