This proposal claims the approximately 400 ETH in sudoAMM fees accumulated by the protocol currently sitting in pair factory smart contracts, and sends them to a ragequit smart contract that lets SUDO holders exchange their tokens for a fixed ETH rate. The proposal also burns the governance’s module power to mint SUDO tokens, by transfering ownership to the burn address, in order to remove any potential governance attack risk with regards to the mint function.

The fixed rate is of 0.00001563744154ETH per SUDO and was determined by dividing the circulating supply of SUDO by the total sudoAMM fees collected by the protocol, and the circulating supply of SUDO was determined by subtracting the SUDO in the governance treasury and in SudoRandom’s multisig from the total supply. 

 

The ragequit smart contract has no time limit, and is opt-in. SUDO may be exchanged for ETH at the fixed rate as long as sufficient ETH remains in the smart contract. Once exchanged, SUDO tokens will be sitting in the ragequit contract and cannot be exchanged back.