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Title: Distribution trategy for ASTR distribution following the option 1 selection

Date: Mar 4th 2024

Proposed by: Starlay Chan Initiative (SCI)

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Summary

Following the community's decision to select the option 1 (https://snapshot.org/#/starlay.eth/proposal/0x7510efe48b5ddf4fbec29a06b5fb0c41f7c03288383a11fdab9eb5a380d783c4), we propose to allocate 50% of the ASTR/WASTR in our treasury (https://debank.com/profile/0x99baebbd28bac1125b84ce1e4b49f077049122e3) for compensation to users affected by the recent incident. This document outlines two potential approaches for distribution, seeks community feedback, and is open to discussing new suggestions.

Specification

Option 1-1: USD-Based ASTR Distribution This approach calculates compensation based on the USD value of DOT/LDOT at the incident's time, with ASTR distributed accordingly. It ensures a swift and straightforward distribution process.

Option 1-2: DOT-Based ASTR Conversion and Distribution Alternatively, this option involves converting ASTR to DOT based on current valuation and then distributing DOT to affected users. While this aligns compensation more closely with the original asset lost, it may necessitate additional conversion steps and more time consuming.

Recovery and Excess Funds: For both options, should any stolen funds be recovered, the compensation increase from the initial loss percentage. Any surplus recovered beyond user losses ## Voting Schedule

Snapshot Voting: 7th Mar, 09:00 UTC - 10th Mar, 09:00 UTC.

Voting Option

1. Option 1-1: USD-Based ASTR Distribution
2. Option 1-2: DOT-Based ASTR Conversion and Distribution