Executed

Renounce Ownership of Relevant (REL) Token Contract


Proposal ID

987287...4632

Proposed

Jun 27th, 2024

Result details

2 addresses

973.08K votes

Final Votes

Quorum

973.08K of 128.23K

Majority support

Yes

For

973.08K

Against

0

Abstain

0

Actions

Type

Address

Details

Custom

0xb6c4...05ec

renounceOwnership(..)

Custom

Account

0xb6c4...05ec

Method

renounceOwnership(..)

Proposal

In view of recent malicious attacks to take control over the REL token smart contract, I am submitting a proposal that will renounce the DAO's ownership of the contract. This will prevent any potential governance attack on the REL token and prevent attackers ability to drain the remaining liquidity pools.

REL contract: https://etherscan.io/address/0xb6c4267C4877BB0D6b1685Cfd85b0FBe82F105ec#readProxyContract

As a result it will no longer be possible to call a number of onlyOwner methods:

setVestingContract - no longer needed

setInflation - we will not be able to update inflation rate (currently at 10%)

burn - not necessary (we already burned all an-allocated tokens)

updateAllocatedRewards - not needed (internal accounting method)

vestAllocatedTokens - not needed - we already sent all the tokens that we needed to the vesting contracts

Final Votes

Quorum

973.08K of 128.23K

Majority support

Yes

For

973.08K

Against

0

Abstain

0

Final Votes

2 addresses

973.08K votes

Status

Thu Jun 27, 03:26 am

Draft created

Thu Jun 27, 03:26 am

Published onchain

Mon Jul 1, 06:51 am

Voting period started

Sun Jul 7, 03:35 pm

Voting period ended

Wed Jul 10, 05:14 pm

Proposal queued

Wed Jul 17, 06:56 pm

Proposal executed