Executed

Renounce Ownership of Relevant (REL) Token Contract


ID 987287...4632

ID 987287...4632

Proposed on: Jun 27th, 2024

Proposed on: Jun 27th, 2024

Votes

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

Votes
Status