0xf5e19192…fd8dsent to0xcb162218…f85c·#22,883,318·0x8f13d9f9…b7911b
# Shutdown of the Obol Association.
## Abstract
This proposal instructs the Obol Association to **liquidate 20 million un-claimed OBOL tokens** (≈ 4 % of total supply) on the open market at the prevailing spot price and to use the realised proceeds to pay all costs associated with **shutting down the Obol Token House and related governance infrastructure**.
The validator-technology stack (“Obol DVs”) and the core engineering team would continue operating on a fee-for-service model, funded by commissions from node operators, without a native token incentive layer.
## Motivation
**Governance fatigue / unmet expectations** Obol Association has seen low turnout and slow delivery on key road-map items. Winding down releases contributors from procedural overhead and makes expectations clear.
**Investor dissatisfaction** OBOL trades ≈ 80 % below its May-2025 ATH; sentiment is negative. **Operational cost overhang** Running delegation UI, analytics, security audits, delegate stipends, etc.
**Viable fee model exists** Obol DVs can charge operators per-validator fees. Technology and team survive without token economics.
## Specifications
### 1. Token tranche to be sold
* **Amount:** 20,000,000 OBOL (un-claimed airdrop allocation currently held by Association Treasury).
* **Transfer status:** Already ERC-20 transferable—no contract changes required.
### 2. Sale mechanism
* **TWAP Market-Order Programme*** Execute **time-weighted-average-price (TWAP)** orders of ≤ 1 % of average daily volume every 15 minutes across CEXs and DEXs for **30 consecutive trading days**.
* Use an external market-maker to minimise slippage; target effective sale price within **-5 %** of prevailing index.
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* **Fallback OTC Block*** If 50 % of the tranche remains after 30 days, authorise OTC blocks with pre-funded counterparties at ≤ 2 % discount to seven-day VWAP.
* **Reporting*** Publish daily fills (tx-hashes / trade‐IDs) to a public Dune or Google-sheet dashboard.
### **3.Use-of-funds (wind-down budget)**
Legal & compliance 350k Dissolve Association entities, tax filings
Security & data retention 120k 12-month archive of infra / audits
Contributor off-boarding 280k Final payroll, severance, invoice settlement
User communication & PR 80k Press releases, help-desk, site banners
Market-maker & execution 130k Per §2
## Conclusion
Selling the dormant airdrop allocation provides a clear, transparent funding source to **close the Obol Association responsibly**, honour outstanding obligations, and let the Obol DV technology stand on its own commercial merits.
Delegates are invited to review the plan, suggest amendments, and—if in agreement—vote **YES** to authorise the wind-down.