Governance Proposal - Migration for Individual Unconverted old AADA Token Holder

Governance General
1

Description:
As an OG private sale member that purchased 28,000 AADA tokens, I propose compassion for an individual holding 700 AADA tokens who missed the conversion deadline. This proposal emphasizes a precedent where a whale received special treatment after the deadline, and it advocates for fairness, community support, and inclusivity.

  • Approve
  • Disapprove

0 voters

Summary:
This proposal seeks a one-time migration for 700 AADA tokens, drawing attention to a previous case where a whale received special treatment after the deadline. It underscores the importance of community support and inclusivity for all members, irrespective of token holdings, and aims to rectify a unique circumstance impacting the individual’s portfolio.

Rationale:
Highlighting the precedence set by a prior case involving a whale, this proposal argues for a fair and empathetic approach to support the individual facing potential loss. It emphasizes Lenfi’s commitment to inclusivity and community support, citing a previous exception made for unique circumstances after the deadline.

Impact:
Migrating 700 AADA tokens for the individual in question would have a minimal impact on the Lenfi community DAO/Treasury while demonstrating flexibility and understanding, but would have a huge impact on the holder, who has a very small portfolio. He is categorized as a crypto newb and while it’s impressive he was able to purchase old AADA when he did, he was not able to keep up with announcements during the bear market and is now at risk of losing everything.

Conclusion:

As much as we think everyone should be paying attention, the reality is, normies are not. Let’s not punish someone for making a great investment, but being a normie.

https://twitter.com/ZssBecker/status/1723121351240614027

This proposal urges the Lenfi community to consider helping out a crypto newb, inspired by the precedence set by a previous case involving a whale. It emphasizes fairness, empathy, and community support for all members, regardless of their token holdings. Let’s use the DAO for good, supporting each other and ensuring that Lenfi’s growth benefits everyone. Leaving someone behind due to missing an arbitrary deadline contradicts the spirit of the Lenfi community and DAO, and this proposal seeks to rectify that.

6 Likes
2

Let’s vote no as this have been given over two years and multiple emails and reminders everywhere for users to convert!! Come on a whole two years of reminders

1 Like
4

I’m the guy that this proposal is about.
I made a mistake (a few mistakes) and was unaware that I needed to convert the tokens.

Because I bought them on muesliswap soon after the initial pre-sale, I wasn’t on an email list to receive the notifications etc.

I’m hopeful that the conversion can still occur and the treasury will provide me with the tokens I purchased, instead of keeping them for a small group who would benefit by me missing a deadline I wasn’t aware of.

Thank you for your support and consideration.

1 Like
5

Thanks Johnny. He actually got the tokens at a really interesting time. Bought them on SundaeSwap when it first launched. Wasn’t in any of the private or public sales, so they didn’t have his email address. Shortly after buying old AADA I think it converted to AADA, where most people bought it on the open market. There was a pretty small window when you could buy old AADA on the open market, he unfortunately was in that window, and then wasn’t active in the community.

6

If he had bought his tokens on Sundaeswap, this changes the whole story. In the proposal you say he received 700 oldAADA from the private sale but forgot to swap them. Turns out he had bought them off the market. And FYI, when Sundaeswap launched, the new V2 AADA token was already out and traded freely.

7

I would kindly ask your friend to prove if he had received his 700 oldAADA tokens from Private Sale. If he had bought them from the open market, the entire responsibility for buying oldAADA is his because the new AADA token was already out and he knew that it was being swapped.

8

Please vote no as these tokens he speaks of are not even his. He is making a proposal for someone else. Furthermore he bought these on muesliswap and failed to DYOR and also to monitor his holdings. This is about making someone of someone whole for being negligent with his finances.

9

He seems to have the same problem as i do. I see some people say no and i wonder why. What is it to you really? if he purchased the token he should be given a new. he has not stolen it from anyone and you cannot expect everyone to keep an eye on their crypto investments day and night. It is not normal to expect that tokens you paid for will one day be changed to something new, especially within a small time window. I only recently found out about it. I still have 100 aada id love to change to Lenfi but there is nothing on their website to tell me how to do it. I have never received any emails or any notifications about it. My apology for not being a crypto nerd and not being in 100%. I am just a normal guy with family and kids… i just dont have time for it like some seem to do. This is the biggest problem with crypto, everyone wants a mass adoption but nobody has done anything to make it easy for normal people. It is all designed for IT nerds and programmers, and while i am a big believer and supporter things like this just leave a bitter taste. I mean imagine if your government one day without telling you changes your money, and one day you realise it is worthless and then they just said well we emailed some people about it and you should have know about it too. That being said id appreciate if anyone would tell me how i can swap my old aada for the new tokens. Otherwise, they can choke on my money. :slight_smile:

10

im the same i bought it on muesli just to support the project and here we are getting punished for it lol its ridiculous that you have to beg to get what is rightfully yours. You paid for it, its yours, and then they changed the token without telling and this is somehow your fault?!

2 Likes
11

I’m delight this was put this forward. I lost out on a similar distribution held by Deadpxlz for $DING staking. Locked tokens for like 6 month and missed a 30 day window to un-stake and lost all the rewards. Make no sense IMO to hit community with a stick after hanging a carrot in their face.

1 Like
12

It’s honestly a joke. A couple of die-hards in a forum that believe they represent an entire community group and have power.

The fact that there has to be 100 votes for an item like this also makes the whole purpose useless - why would 99.9% of people care about this as it doesn’t affect them.

Still working on getting this done for the people who deserve it - hopefully we can get our tokens that we paid for and rightfully belong to us.

2 Likes
13

I could not agree more. It may be in fact a breach of contract, in my opinion. This is because we had paid for AADA, which then without our knowledge, was transformed to another token making our purchase worthless, and without our approval. I am a litigator. So, i know what im talking about. Of course, this will put many people off this product. I bought like 30 different ADA projects in early 2022 just to support them, but this puts me off. I am sure there will be a lot of pissed off people. I am sure none of them knowingly failed to swap the tokens and lose the money. They are all investors. And now some a…holes are trying to get the hands on someone else’s money.

1 Like