Synopsis#

Approve PonziDAO's project in the rescue terminal, allowing them to recover ~4.5 ETH from a permanently locked cycle.

Motivation#

From nizo, the project's owner:

We created a juicebox to raise funds within a small French NFT telegram community, and invited members to participate in a NFT degen adventure. We weren't very familiar with the process, and after Cycle 1 we intended to stop funding, but some people kept sending, and we've been unable to access funds ever since. That adventure is now over, and we're in the process of reimbursing users, but those 4,5 ethers are still lost in space, and we seem to have no solution for recovering them.

The funds are locked in a cycle which is permanently locked. Redemptions are disabled, meaning that if JuiceboxDAO does not allow PonziDAO to rescue the funds, the funds will be locked permanently.

Specification#

Call toggleRescue(...) on the mainnet TerminalV1Rescue contract 0xE05605882C3F34B4Ef3586D70dE294f3f9654Ee8, specifying the PonziDAO project ID (140).

Rationale#

This will allow PonziDAO to recover the funds through the v1.1-recovery frontend with the process simulated here on Tenderly.

Risks#

This would be the second time JuiceboxDAO has completed a v1 rescue, but this could still establish a dangerous precedent. The funds are permanently locked, and we may be missing context – the community may have locked the funds intentionally.

However, if JuiceboxDAO doesn't act, the funds are locked forever and cannot be recovered, as redemptions from the project are disabled.

Timeline#

To be executed within the 14 days following the proposal's approval.