CIP-Draft: Allowing CoW DAO and Grants DAO to discard PoW assets received as airdrop / fork

Governance Inactive Proposals
,
1 
CIP: <to be assigned when moved to phase 2>
title: Allowing CoW DAO and Grants DAO to discard PoW assets received as airdrop / fork
author: Luis Machado (luis@cow.fi)
status: Draft
created: 2022-09-08

Simple Summary

With the CoW Team and overall CoW Community committed to ETH PoS, this CIP proposes that the CoW DAO can discard any PoW assets arising from the Merge (and a possible Fork).

Motivation

The CoW team is fully supporting an ETH PoS position in line with the strategy set forth by the Ethereum Foundation. With the merge, a PoW chain may be forked and PoW assets can be airdropped / duplicated in CoW DAO’s PoW wallets.

With this possibility, the CoW DAO and CoW Grants DAO should be enabled by means of this governance proposal to sell or transact potential PoW assets that may appear or be claimable for the DAO’s owned wallets.

The goal of this proposal is to:

  1. Confirm the CoWmunity’s stance of supporting the transition to PoS in line with the Ethereum Foundation;
  2. To opportunistically increase the DAO’s treasury and ensure higher funding for continuous investment in the ecosystem by discarding PoW assets.

Proposal

That the CoW DAO and CoW Grants DAO sell all Ethereum Mainnet PoW assets in its wallets for PoS ETH ≈, DAI or USDC. For these operations CoW DAO may resort to exchanges or aggregators should CoW Swap not fulfill the orders.

7 Likes
2

I support this proposal and should be put to a vote ASAP.

1 Like