Summary of Proposal
This proposal is about an honest mistake that was made during the process of a token upgrade of CDT to SSV.
CDT tokens were sent to the SSV token upgrade contract with a “Transfer” function instead of “Convert” function, thus making those CDT tokens lost in the contract without the issuance of new SSV tokens back to the sender’s address as should have been.
The transaction was made a few months ago, and can be seen below:
Why was this mistake made?
SSV documentation stated that “A simple CDT deposit into the TokenUpgrade contract will send SSV tokens back to the sender”. I later found this not to be true.
My proposal is basically to allow the SSV DAO to mint new tokens and send the newly minted tokens back to the sender’s address (0x697302628be3dd222da2c817b405c561ac25fdea) the appropriate amount according to the original CDT → SSV token upgrade process.
According to the above mentioned transaction, a total of 214,691 CDT tokens were transferred to the SSV contract, which applies for 2,146.91 SSV tokens (1:100)
So a total of 2,146.91 SSV tokens should be minted and issued to the address 0x697302628be3dd222da2c817b405c561ac25fdea
The CDT tokens are effectively burned as there is no way to withdraw them from the contract.
Non-technical ELI5 of proposal
A total of 2,146.91 SSV tokens should be minted and issued to the address 0x697302628be3dd222da2c817b405c561ac25fdea due to wrongly sent CDT tokens to the ssv token upgrade contract which are now lost in the contract.
Motivation for Proposing
An honest mistake was made due to unclear language in official documentation. This proposal seeks to rectify this mistake, your support is highly appreciated
Reasons supporting the proposal
A mistake was made due to misleading documentation, let’s fix it. Circulating SSV supply will not be affected as the tokens are locked forever in the conversion contract.
Reasons against the proposal
Total supply will increase by a miniscule amount. (No change to circulating supply as tokens are locked forever in the conversion contract…)