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Mars Hub Governance Proposal: Refund of Unmigrated MARS Tokens for Affected Users
Proposal Metadata
• Title: Refund of Unmigrated MARS Tokens from Community Pool for Users Missing January 2025 Deadline
• Author: Bluerise1 (Discord: Bluerise1)
• Proposal Type: Community Pool Spend
• Submission Date: May 13, 2025
• Forum Discussion: [Link to your forum post, e.g., Mars Hub Forum Thread: “Missed Migration Deadline for MARS Tokens”]
Summary
This proposal requests the Mars Hub community to allocate funds from the community pool to refund 21,913.61 unmigrated MARS tokens (valued at approximately $400 at the time of purchase on January 27, 2025) for the proposer, and potentially other affected users, who missed the token migration deadline of January 27, 2025, due to insufficient communication. The refund would be issued in new tokenFactory MARS tokens on Neutron or an equivalent value in a stablecoin (e.g., axlUSDC) to compensate for the loss of unmigrated tokens.
Background
On July 29, 2024, Mars Hub passed a governance proposal to transition protocol governance from the Mars Hub app-chain to a DAODAO instance on Neutron, accompanied by a token migration from the old IBC.MARS token to a new tokenFactory MARS token on Neutron. Token holders were required to convert their tokens via a 1:1 0% fee Astroport transmuter pool. The migration deadline was January 27, 2025, after which unmigrated tokens were to be withdrawn by governance and burned, reducing the total supply.
The proposer, Bluerise1, purchased and staked 21,913.61 MARS tokens on Osmosis on January 27, 2025, unaware of the migration requirement. Due to a lack of clear communication or notifications on platforms like Osmosis or X, the proposer missed the deadline, rendering the tokens unusable. The proposer’s forum post on the Mars Hub community forum indicates that others may be in a similar situation, highlighting a potential gap in community outreach during the migration process.
Problem Statement
The migration process, while approved by governance, appears to have lacked sufficient communication to ensure all token holders, particularly new or less active ones, were informed of the deadline. The proposer, a new participant in the Mars Hub ecosystem, was not notified of the migration requirement through Osmosis, X, or other accessible channels. As a result, 21,913.61 MARS tokens, representing a $400 investment, are now lost, as the old chain cannot be revived, and unmigrated tokens are scheduled for burning. This situation risks alienating community members and undermining trust in the protocol, especially for those who intended to stake and hold long-term.
Proposal Details
This proposal seeks to:
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Refund the Proposer’s Tokens: Allocate 21,913.61 new tokenFactory MARS tokens from the Mars Hub community pool to the proposer’s wallet (to be provided securely upon proposal approval) or an equivalent value in axlUSDC (approximately $400, based on the purchase price on January 27, 2025, adjusted for current market conditions).
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Establish a Refund Mechanism for Others: Create a process for other affected users to submit claims for unmigrated tokens, subject to verification (e.g., proof of token ownership on Osmosis or Mars Hub before the deadline). Claims would be capped at a total community pool spend of [TBD amount, e.g., 1% of the community pool] to balance fairness and fiscal responsibility.
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Improve Communication Protocols: Recommend that the Martian Council implement mandatory multi-channel notifications (e.g., Osmosis UI alerts, X announcements, email blasts via Keplr/Station) for future critical protocol changes to prevent similar issues.
Rationale
• Fairness and Community Trust: Compensating affected users demonstrates Mars Hub’s commitment to its community, especially new participants who may not be active in governance discussions. The proposer’s loss of $400, while small relative to the community pool, represents a significant personal investment.
• Precedent for Community Pool Use: The Mars Hub community pool has been used for incentives, such as liquidity provider rewards on Osmosis (e.g., 310,000 OSMO proposed in 2023). Allocating a small portion for refunds aligns with the pool’s purpose of supporting ecosystem growth and user welfare.
• Mitigating Reputation Risk: Failing to address unmigrated token losses could deter new users from engaging with Mars Hub, particularly as the protocol expands to new outposts and aims to attract DeFi participants.
• Feasibility: The community pool, bolstered by returned genesis validator tokens (50 million MARS in 2023), likely has sufficient funds to cover the proposed refund without significant depletion.
Implementation
- Refund Execution:
• Upon proposal approval, the Martian Council or a designated SubDAO will transfer 21,913.61 tokenFactory MARS tokens or $400 in axlUSDC to the proposer’s wallet.
• The exact token price for conversion (if MARS tokens are issued) will be based on the 7-day average MARS/NTRN trading pair on Astroport as of the proposal’s passing date.
- Claim Process for Others:
• A 30-day claim window will open for other affected users to submit proof of unmigrated token ownership (e.g., wallet transaction history) via a designated Mars Hub portal or DAODAO interface.
• Claims will be reviewed by a community-managed multisig (e.g., mars1mxumghlfzw57jvk2uc06ersx9ag6m77z6w2wk7) to ensure legitimacy.
• Total refunds will be capped to prevent excessive community pool expenditure.
- Communication Improvements:
• The Martian Council will collaborate with Osmosis and Neutron teams to integrate migration alerts into user interfaces (e.g., Keplr, Osmosis DEX) for future protocol changes.
• A governance proposal will be submitted within 60 days to formalize multi-channel notification requirements.
Financial Impact
• Proposer’s Refund: 21,913.61 MARS tokens or $400 in axlUSDC, a negligible fraction of the community pool.
• Potential Additional Refunds: Assuming users with similar losses (to be estimated via forum/Discord feedback), the total cost could range from [Y] to [Z] MARS tokens or stablecoin equivalent, capped at [TBD amount].
• Community Pool Status: As of 2023, the pool received 50 million MARS tokens from genesis validators, and protocol revenue from Osmosis/Neutron outposts may have increased reserves. Exact pool balance should be verified by the Martian Council.
Risks and Mitigations
• Risk: Excessive refund claims could strain the community pool.
• Mitigation: Cap total refunds and prioritize claims based on submission date and proof of loss.
• Risk: Moral hazard, where users expect refunds for future missed deadlines.
• Mitigation: Clearly state that this is a one-time refund due to unique communication failures, and implement robust notification protocols moving forward.
• Risk: Disagreement over refund valuation (MARS vs. stablecoin).
• Mitigation: Offer the proposer a choice between MARS tokens or axlUSDC, and use transparent market data for conversions.
Voting Options
• Yes: Approve the refund of 21,913.61 MARS tokens or $400 in axlUSDC to the proposer, establish a claim process for others, and recommend communication improvements.
• No: Reject the proposal, maintaining the status quo of burning unmigrated tokens.
• Abstain: Neutral stance, allowing other stakers to decide.
• No with Veto: Reject the proposal and signal strong opposition to community pool refunds.
Call to Action
I urge the Martian Council and MARS stakers to support this proposal to rectify an unintended loss caused by inadequate communication during the token migration. By refunding affected users and improving outreach, Mars Hub can strengthen its community and uphold its reputation as a user-centric DeFi protocol. I am available for further discussion on the Mars Hub Forum and Discord (Bluerise1) to address questions or refine this proposal.
Thank you for your consideration.
Notes for Submission
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Forum Discussion: Before submitting this proposal on-chain, post it to the Mars Hub Forum (or equivalent governance discussion platform) to gather feedback and gauge community support. Reference your existing forum post to build momentum.
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On-Chain Submission: Use the Mars Hub DAODAO interface on Neutron (or Keplr/Station wallet) to submit the proposal. Ensure you have sufficient staked MARS tokens to meet the proposal deposit requirement (if applicable).
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Community Engagement: Share the proposal on X and the Mars Hub Discord, tagging key community members or validators (e.g., @ExpeditionMars) to increase visibility. Be prepared to answer questions about the number of affected users or the community pool’s capacity.
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Verification: Be ready to provide proof of your 21,913.61 MARS token purchase and staking on Osmosis (e.g., wallet transaction history) to the Martian Council or multisig upon proposal approval.
Assumptions and Limitations
• The exact community pool balance is unknown, but historical data suggests it is substantial enough to cover the refund.
• The number of other affected users is unclear; the proposal assumes a limited number based on your forum post’s context.
• The migration deadline of January 27, 2025, is inferred from your forum post and web sources indicating a 6-month window from July 29, 2024.
• If the community rejects direct refunds, you could propose an alternative, such as incentivizing a new transmuter pool with extended deadlines, though this may be less feasible given the burning schedule.
Let me know if you need assistance drafting a forum post, formatting the proposal for DAODAO, or engaging with the community on Discord/X! If you have additional details (e.g., exact purchase price per token, wallet address for verification, or responses to your forum post), I can refine the proposal further.
sounds good , will support.
Yes, let’s do that. It’s not the best tool here to write a proposal. Let’s do that somewhere else. I’ve added you on discord.