Ethereum Proposal To Return Hacked Funds via the $360M Parity Contract Shut Down - EIP999 Update / TLDR Overview

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The week-long vote on EIP999, a proposal to recover the funds locked in the Parity multi-sig wallet, has ended with 55% of votes in favour of no action.

Vote Results:

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It is not clear whether the vote will usher in a definitive end to EIP999, but the Parity team did release multiple statements stating that they have no intention of harming the Ethereum ecosystem and look forward to finding consensus around a solution.

Seeing as this is unlikely to be the last time user funds are misplaced/lost, several community members have proposed solutions for mitigating such occurrences:

1. DeHedge is a decentralized risk-hedging platform for crypto asset investors: investors can hedge investments in ICOs and crypto assets, protecting against exchange rate fluctuations, scams, and project cancellations.

2. Alex Van de Sande has proposed the creation of a Recovery Token.

3. Lane Rettig places EIP999 in the context of Ethereum’s model of governance and suggests moving forward with the creation of a standardized Ethereum recovery proposal (EIP-867).

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The links are here:

http://telegra.ph/Ethereum-Proposal-To-Resurrect-Disabled-360-Mln-Parity-Contract-Shut-Down-04-25-2

https://twitter.com/paritytech/status/989106479885103104?s=21

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Thanks for Reading!