Proposal: Solution to Alameda / FTX SOL allocation

Obviously, this is one of the major current issues, and many teams lost assets to FTX. Given the damage clearly could be larger than the value of the Alameda / FTX SOL allocation (locked and unlocked), and that they are clearly a "bad actor:, it seems good to start a discussion on ways to solve.

Here are some ideas:

  1. Do nothing.
  2. Fork Solana so that:
    a) The errant allocation is burned, or;
    b) Increase the lock to 10 years on the errant allocation, or;
    c) Airdrop all SOL token holders additional SOL, except for the party holding the errant allocation.
    d) a combination of the above.

Any other ideas the community may have?

Not sure how governance actually works, but taking some type of action here seems to make sense.

2 Likes

b) Increase the lock to 10 years on the errant allocation, or;

good

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I think we should just burn the FTX and Alameda allocation )))

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The 10% Crypto is not that much of an issue,
When a creepy guy’s Serum is inside of you that should be more concerning.

as much as I think everyone would agree their allocation should not be returned to them, I think it would be extremely bad for the ecosystem for anyone to be able to control the tokens part from the token owners, having any form of censorship would not be good.
Its important to note what bankruptcy gets filed for FTX/Alameda, chapter 7 then the assets get liquidated and are simply market sold all at once, (though how the locked Solana is digested I don’t know, as legally locked assets is a new legal issue , but if the bankruptcy gets filed as a chapter 11 and this is what lawyers will push for as the creditors will get more of the funds returned, essential all assets and estates get auctioned to highest bidder, and this takes a long time so in this case the Solana holdings would not hit the market for a long time, The MTGOX exchange is in a version on chapter 11 and its been 9-10 years and the creditors have still not received the bitcoin.

But its a very interesting discussion, what should a chain do to bad actors ??? who is the voice of reason ?

the ETH chain is encountering this a lot with big hacks. I wonder how governments will try and enforce chains to act in the future

I vote to burn the errantly allocated and then airdrop holders additional Solana for our losses. This is ridiculous, there should not have be that many coins in one place.

Hopefully governments don’t force anything. Chains should decide how they operate.