[RFC] Deprecating BDTF and CLUB

More DTFs
1

Both BDTF and CLUB are largely inactive DTFs with very little TVL (~$5,000 each). For the safety of any remaining holders, it is appropriate to deprecate DTFs that do not have an active governance community.

It is proposed to deprecate the DTFS BDTF and CLUB with the following series of actions:

  1. upgrade to 4.0.0
  2. add `0x7DaAf7Bc2eE8bf4C0ac7f37E6b6cfaEB3ed9a868` as an auction launcher
  3. rebalance the entire basket into USDC
  4. fully deprecate (remove all roles and call deprecateFolio)

Upgrading to 4.0.0 allows auctions to be processed in the most correct fashion (BDTF is currently on 2.0.0, and CLUB is currently on 1.0.0).

Adding `0x7DaAf7Bc2eE8bf4C0ac7f37E6b6cfaEB3ed9a868`as an auction launcher gives ABC Labs the ability to launch permissioned auctions.

Rebalancing into USDC makes redemptions easier later in case any of the current underlying basket tokens lose value or get otherwise deprecated.

Removing all active roles removes all control of the DTF, and calling deprecateFolio permanently blocks anymore mints, while still allowing redemptions to take place.

5 Likes
2

In light of recent governance attacks, very much in favour of this proposal.

1 Like
3

Recent governance attacks have demonstrated the vulnerability of DTFs with limited or no ownership/attention. This is especially true when combined with a governance token (this is the case for BDTF) that has lost its value in the broadest sense of the word. in other words: fully agree these DTFs should be deprecated.

1 Like
4

excellent! autumn cleaning!

5

Will remaining holders see a clear notice on the DTF pages explaining the change and how to redeem afterward? A short guide linked there would help people who don’t follow governance discussions.

6

You can redeem the DTFs for their constituting tokens with one click in the Reserve App.
New mints are disabled for CLUB and BDTF.

At some point they will be removed from the App.

1 Like
7

Thanks for clarifying. Will a redemption link or guide remain available after they’re removed from the app?

8

You will always be able to redeem via the smart contracts. In the age of AI this has become extremely simple.

1 Like