Abstract

This proposal instructs the Obol Association to liquidate 20 million un-claimed OBOL tokens (≈ 4 % of total supply) on the open market at the prevailing spot price and to use the realised proceeds to pay all costs associated with shutting down the Obol Token House and related governance infrastructure. The validator-technology stack ("Obol DVs") and the core engineering team would continue operating on a fee-for-service model, funded by commissions from node operators, without a native token incentive layer.

Motivation

Governance fatigue / unmet expectations Obol Association has seen low turnout and slow delivery on key road-map items. Winding down releases contributors from procedural overhead and makes expectations clear.

Investor dissatisfaction OBOL trades ≈ 80 % below its May-2025 ATH; sentiment is negative. Operational cost overhang Running delegation UI, analytics, security audits, delegate stipends, etc.

Viable fee model exists Obol DVs can charge operators per-validator fees. Technology and team survive without token economics.

Specifications

1. Token tranche to be sold

• Amount: 20,000,000 OBOL (un-claimed airdrop allocation currently held by Association Treasury).
• Transfer status: Already ERC-20 transferable---no contract changes required.

2. Sale mechanism

• TWAP Market-Order Programme* Execute time-weighted-average-price (TWAP) orders of ≤ 1 % of average daily volume every 15 minutes across CEXs and DEXs for 30 consecutive trading days.

  • Use an external market-maker to minimise slippage; target effective sale price within -5 % of prevailing index.

• Fallback OTC Block* If 50 % of the tranche remains after 30 days, authorise OTC blocks with pre-funded counterparties at ≤ 2 % discount to seven-day VWAP.

• Reporting* Publish daily fills (tx-hashes / trade‐IDs) to a public Dune or Google-sheet dashboard.

3.Use-of-funds (wind-down budget)

Legal & compliance 350k Dissolve Association entities, tax filings

Security & data retention 120k 12-month archive of infra / audits

Contributor off-boarding 280k Final payroll, severance, invoice settlement

User communication & PR 80k Press releases, help-desk, site banners

Market-maker & execution 130k Per §2

Conclusion

Selling the dormant airdrop allocation provides a clear, transparent funding source to close the Obol Association responsibly, honour outstanding obligations, and let the Obol DV technology stand on its own commercial merits. Delegates are invited to review the plan, suggest amendments, and---if in agreement---vote YES to authorise the wind-down.