Governance Shutdown

This proposal will redistribute all remaining liquidity in the PoolTogether governance system to POOL token holders via AMMs. The governance system will then be permanently shut down.

Scope of Work

Motivation

The majority of POOL token holders are staked in the protocol to win prizes. POOL is no longer staked in governance, so engagement has diminished to myself (a whale) and a few other token holders. If I stake my tokens in the protocol, then the treasury would be defenseless against attacks.

That being said, the treasury has reached the end of its runway: with approx 24 ETH and 1.1m POOL remaining.

It's time to distribute the remaining tokens and shut down governance permanently.

Goal

The goal is to:

• Empty the treasury
• Distribute the non-POOL assets (mostly ETH) to POOL token holders via AMM liquidity.
• Create a World Chain POOL LP position.
• Adjust remaining POOL LP positions to be within range.

Deliverables

On-chain Actions

1. Transfer Uniswap V3 LP Positions - Transfer all 6 LP positions
2. Withdraw przWETH
3. Withdraw POOL
4. Withdraw stETH
5. Withdraw Av2-POOL-LP
6. Disable Timelock

Post-Proposal Actions

These actions will be executed manually:

• Collect LP fees
• Create a new broad WETH/POOL LP position on Ethereum. Use all of the WETH and the corresponding amount of POOL.
• Create new WETH/POOL LP position on World
• Adjust POOL LP across other chains
• Burn all LP positions: transfer ownership to 0x0 (or 0x1 if 0x0 is restricted)

Timeline

The on-chain portion will occur on execution, and the post-proposal actions shouldn't take more than a few hours.