As I'm sure you are all aware there is currently an upgrade in process that fixes some security issues with Gridcoin. While testing some exploits TomasBrod managed to extract around 30K of Gridcoin from the main network that should never have been minted.
Now that the exploits have been patched there is an ongoing poll to decide what to do with the coins. Here are the possible options:
- Burn Them
- The Foundation
- Public Faucet
- Use As Development Bounties
- Rain, Based On Magnitude At The Time Of The Hacks
- Abstain
Out of the list of options in my opinion the best course of action is to Burn Them. The reason why I think the full 30K should be burnt is because the coins should never have existed in the first place. Doing anything other than burning the coins could potentially put downward pressure on the coin when people come to sell them.
I know it's not much and will likely make no difference to the price but it's about principle. The dev team are now getting paid to find and solve issues like this and the exploited coins should not be rewarded to the dev team or anyone else because if they are, where do you draw the line?
Can the devs exploit millions of GRC in the future and have it all rewarded as bounties?
As of this writing Use As Development Bounties is in the lead and in my opinion this should not happen. I don't even think it should have been an option on the poll.
It was good of Tomas to find the exploit, fix it, and then notify everyone, but I think it sets a bad example if the coins wrongly minted are then given to the rest of the developers or anyone else.
My Vote: Burn Them