Consistent with Proposals C4IP-27 & C4IP-28: Code4rena DAO restructuring and as provided for under the Association Agreement contained in C4IP-19: Code4rena adoption of UNA legal entity structure, this proposal dissolves the Code4rena UNA effective immediately upon passage.

The legal UNA entity continues to exist only for the purposes of winding up its operations, which includes:

• the discharge of the Association’s debts, obligations and other liabilities;
• the settling and closer of the Association’s business; and
• the distribution of any remaining property.

This proposal authorizes Code4 Corporation as administrator to engage in the windup of the association. Accordingly, Code4 is authorized to take the following actions on behalf of the DAO:

• preserve the Association's operations and property as a going concern for a reasonable time;
• file and sign the final tax returns and make any necessary payments;
• prosecute and defend actions and proceedings, whether civil, criminal, or administrative;
• transfer the association's property;
• settle disputes by mediation or arbitration; and
• perform other acts necessary or appropriate in winding up.

This proposal authorizes the following distributions:

• $220,000 to purchase the tokens from holders whose tokens were granted through the initial airdrop and other community contributors who rendered services and/or joined via OTC purchases.
• $30,000 to early contributors for services rendered.
• The remainder to be distributed to Code 4 Corporation to continue support for the security marketplace upon satisfaction of all outstanding debts and obligations.

Another proposal will follow shortly handling the burning of the ARENA tokens held in the treasury.