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TIP-222.md

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id Title Status Author Description Discussions to Created
TIP-222 Formalizing the agreement with HGS Draft Danijel Formalizing the agreement with HGS https://discord.gg/thales 2024-08-17

Simple Summary

This TIP serves to formalize an agreement reached between Harrison Smith and Thales DAO. The agreement is copied in its original form in the specification section

Motivation

As a result of erronous data being pushed to the chain, Thales DAO offered overly generous payouts via its SportsAMMV2 smart contract on 13th of August, resulting in an LP loss of roughly ~140k in crypto currencies. The bulk of those tokens were obtained by a single user, acting as a white hack, who now wishes to return the funds. Thales DAO will reward the user for his return of the funds, by allowing him to keep roughly around 50k in cryptocurrencies.

Specification

Thales DAO <> Harrison Smith Proposal

WHEREAS, Thales DAO is a community of over 3,000 members;

WHEREAS, Thales DAO operates exclusively as a Decentralized Autonomous

Organization (“DAO”) and formalizes its decisions via on-chain votes on its governance website;

WHEREAS, there is a dispute between Thales DAO and Harrison Smith regarding an aggregate amount of roughly, but no less than $130,000 in digital assets that was acquired by Harrison Smith on or around Tuesday, August 13, 2024 (hereinafter, the “Acquired Amount”);

WHEREAS, Thales DAO and Harrison Smith desire to fully and finally resolve all matters between them relating to the Acquired Amount.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and without acknowledging any fault or liability, Thales DAO and Harrison Smith confirm the following as terms of resolution of their dispute:

  1. Thales DAO and Harrison Smith will agree that the acquisition of the Acquired Amount (the “Incident”) was not based on any malicious intent.

  2. Thales DAO and Harrison Smith agree and covenant that each shall not, at any time, directly or indirectly, make, publish or communicate to any person or entity or in any forum, whether public or private (including through any form of social media) any defamatory or disparaging remarks, comments or statements concerning the other, or (if applicable) any related entity or affiliates, or any such related entity or affiliate’s employees, officers or other associated third parties.

  3. As soon as reasonably practicable and in no event later than August 20, 2024, Thales DAO will withdraw its complaint to Coinbase regarding the Incident and advise Coinbase to lift any and all restrictions on Harrison Smith, which will, among other things, permit payment to Thales DAO, based on the terms provided herein.

  4. Upon lifting of the Coinbase restrictions, and no later than forty-eight (48) hours from notification of the restrictions lift, Harrison Smith shall use best efforts to collaborate with Thales DAO to return no less than $80,000 USDC in ETH and USDC (the “Settlement Amount”), to the following receiving wallet address: Optimism 0x489863b61C625a15C74FB4C21486baCb4A3937AB or Ethereum mainnent 0xDaC09f37E132D91b962F30E6ec40d2D08b82b0Fa.

  5. As consideration for Harrison Smith’s cooperation and return, Thales DAO will permit Harrison Smith to retain any remaining Acquired Amount after payment of the Settlement Amount, which shall be a reward (the “Bug Bounty”) for identifying the oracle error and preventing further losses to the DAOs liquidity providers. Harrison Smith acknowledges and understands that Thales DAO shall have no further obligation to pay, and Harrison Smith is not entitled to any other compensation other than the Bug Bounty.

  6. These statements and this agreement, including the consideration provided herein, shall not be construed as an admission of liability or wrongdoing by either party.

  7. Both parties acknowledge and agree that these statements, this agreement, and the consideration exchange represent a full and final settlement of any and all claims relating to the subject matters described herein, and that neither party shall have the right to bring any future claim, lawsuit, or legal action against the other with respect to the matters covered by this agreement. Further, this agreement shall not be used in any way as evidence against any party except for the purposes of establishing resolution of the claims released herein.

Thales DAO and Harrison Smith agree that these terms will be sent and presented to the members of the DAO and shall be ratified by an on-chain vote as soon as reasonably practicable, and this will result in an immutable digital footprint of the parties’ mutual settlement and release agreement.

Copyright

Copyright and related rights waived via CC0.