LIP-10 Burning the bridge

I’ve been thinking about this for the past couple of days. My first thoughts were “hell yeah, let’s get it done!” but I have since evolved my view.

I think the bridge should have a few months to provide ample notice about a cut off date. I do agree that we want generally active members in the DAO but I don’t like the idea of someone being penalised because they have taken a break from the market. The overall market is a shit show right now, many people have stepped away to take a breather and not look at their portfolios as it upsets them. There’s also the common phrase “sell in May and go away” and while they didn’t sell their lizard, I think people may be enjoying summer vacation or some time away for the markets due to this downturn.

I like the overall proposal but I think we should extend the deadline. I would like to see something like a date set 3 months out in order to provide ample notice for those who haven’t to bridge their lizards and at that time the bridge may be burned. In that case, the bridge would have been available ~6 months with 3 months notice of a cut off date.

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I agree. We are basically deleting thousands of dollars from peoples wallets, and I don’t think all council members have even weighed in on it (all of whom are iguanas I think). It obviously makes sense for the active discord members, but if our plan as genesis holders goes how we want it to, the type of people who we want to own iguanas aren’t necessarily people who hang out in discords tbh. Public facing it seems not only greedy, but also is a red flag for volume/interest…

I agree with @Lemz and @jacuzzi_mane that there should be a longer time period and announcements with warnings. Think minimum 2-3 months. So many people are taking a break form the market right now and may be on summer vacation or other things keeping them away.

If there is some way to automatically migrate the remaining ones would be even better. Maybe not possible tho. I wouldn’t want to leave behind any OGs and burn their valuable NFT.

Also - everyone needs to remember that we’re different than ILV. Ethlizards governance does not rely on Council approvil for LIPs. It is the community vote that matters.

I would suggest that if we close the bridge we should keep the remaining lizards in the treasury for 6 months to a year, and if the owners make contact they can manually burn their liz and we can send out the replacement. This will reduce the security footprint of having the bridge open and also give us a plan for when angry & confused liz holders show up. We really shouldn’t leave any holders behind, it creates a bad precedent.

Only 14 lizards left…

Overall I’ve been convinced that having a longer window is better if we can avoid leaving anyone upset. Do we have a good enough idea of the kinds of the kinds of issues/vectors leaving the bridge open longer has? Overall it does seem ideal if it’s wrapped up before staking is rolled out.

I don’t mind @yeehah’s idea of the treasury essentially minting the remaining genesis erc721 and holding in the vault for a longer period of time but that might affect any revdis if they are then burned after a year.

Another approach I wasn’t sure about was the possibility of just airdropping the erc721 version into the holder’s account…

Is there an interest in finalising this topic through a new proposal?

  • ERC-721 editions of all unbridged genesis lizards should be transferred/ held by the DAO.

  • If /when the original owner comes forward with verification, their ERC-721 should be returned to them.

It’s fair to original owners and it’s not a total wasted opportunity from a Revenue Distribution perspective.

Revenue Distributions from the unbridged lizards can be either;

a) Kept by the DAO for reinvestment
b) Distributed evenly to all other holders