Proposal: PIP-59: Proposal for Returning 40.203 wETH to Bybit (After 10% Bounty Deduction)
Vote: For
Rationale: With two amendments to the original text that we considered essential - the inclusion of ParaSwap in the 10% bounty and the indemnity clause - we voted in favour of this proposal. We know that this is a very controversial and open to interpretation issue, even within our team we have debated a lot to reach a consensus, and we understand and even share the reasons of those who oppose it, but we believe that approving this proposal is the most pragmatic and reasonable solution to put an end to this issue, which will put ParaSwap in the ethical place of a protocol with proven good will and a good ecosystem actor, and could generate a positive commercial reputation or prestige at a very important time for ParaSwap as it moves towards the launch of a new token with the intention of being listed on the major CEXs. We believe that the benefits of this course of action could be far greater than the 40.203 wETH, and this will have a positive impact on both the protocol and the tokenholders.
Whatever decision the DAO makes, the DAO itself will be strengthened as it will have exercised its full authority and decision-making power over its own funds with the participation of the community, tokenholders and delegates who have been able to express themselves in the forum and essentially through voting, which will be a confirmation of ParaSwap’s decentralisation of the decision-making process.
Our comprehensive and extended rationale has been shared in the proposal thread, you can read it here.