Close ESD > ESS Migration Pathway

Overview

In the past weeks the community has taken a number of steps to help secure the governance process of the Emptyset DAO. Extending the voting period, increasing the quorum, & liquidating the treasury all help secure the governance of the proctol which in turn reduces risks for protocols utilising DSU within their protocol.

The migrator as it stands holds 37% of the total ESS supply, these ESS represent the outstanding ESD tokens within the V1 DAO, wallets and LPs. In order to continue to improve the security of the V2 protocol and remove potential governance risks, I think it’d be prudent to remove the ability for ESD to be converted to ESS at some point in the future.

Effect

This move would neutralise roughly 700 million ESS (at present) from suddenly becoming active in governance, via being bought cheap cheaply or through an inifinte mint bug in the dormant v1 DAO contracts.

Technical Implementation

I’m not sure about the specific actions required to neutralise the migrator, I’ll leave that up to the more technically minded :see_no_evil:.

Timeline

The current governor has a 7 day voting cycle, which would be too short to provide notice to token holders who haven’t yet migrated. So instead of putting this up to a vote immediately, we should use this post to signal the intention to do.

Within the next month or two, given a consensus in the community I will propose this as a proposal.

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