Authors & Contributors:

twMatt

Summary:

We as Tapioca Foundation released the Tapioca Protocol yesterday, June 22nd 2024, and while the core protocol is working perfectly as intended, the twAML system included a mathematical error which resulted in the protocol becoming economically disabled. Pearl Labs has worked on Tapioca since February 22nd, 2022, and twAML was the most complex component of the protocol with extremely sophisticated mathematical formulas. A post mortem will be released soon to discuss the minutia of the path forward regarding the refactored twAML and how the undesired outcome occurred in detail. This proposal however is centered on funds being owed to Pearl Labs developers, legal personnel, white hats, and service providers, accrued from start time of deployments to today.

Motivation

During the deployment phase, developers, other Pearl Labs staff, and white hats were awaiting the protocol to go live and a budget proposal to be passed, and Chaos Labs is owed for their work for the prior month on parameter recommendations for Big Bang & Singularity. A number of white hats also have worked with 0xRektora on the twAML refactor and testing as well during the war room held yesterday. Generally in a working system state, Tapioca's oTAP call option incentives would be bringing in Protocol Owned Liquidity to the DAO Treasury, but even with that removed, the DAO has over $10 million in base assets.

Specification

Pearl Labs

0xRektora - $38,480 0xKosmog - $38,460 Jon Crabb - $23,076 Giulio - $23,076 Shippoor - $18,462 0xWeiss - $32,618 Jayrod - $15,000 MoMe - $13,845 GrayMatter - $27,288 (includes lbp seed liquidity being returned) PunkGod - $4845 Mir0x - $3750 Sara Chekroun - $18,700

Security Researchers

Victor Martinez - $14,000 CarrotSmuggler - $16,000 0xAdrii - $14,000 nican0r - $1950 0xRaz -$3000

Chaos Labs: $39,583

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Total: $346,133

Implementation

1. Foundation will send immediate payments totaling $346,133 to all parties named above upon passage to continue development.