Abstract
During the distribution of Pyth locked tokens, a Pyth Publisher received locked PYTH tokens in a wallet which cannot interact with smart contracts on the Solana blockchain. As a result, these funds, which are now partially vested, are inaccessible.
In previous Constitutional PIPs (CO-PIP-2 and CO-PIP-7), similar problems were resolved by using the Staking Program’s recovery functionality to reassign ownership of bricked locked token accounts.
This proposal aims to do the same: recover funds for one Pyth Token Holder (PTH), a long-term Pyth Publisher, whose 352,500 PYTH tokens are currently inaccessible across 5 locked token accounts.
Rationale
The Pyth Staking Program (PSP) requires a PTH-supplied Solana Wallet Address so that the PTH can interact with the program to stake, vote, and withdraw once tokens have vested. Transactions signed by the private key of this Solana Wallet Address allow the PTH to operate these functions.
During the distribution of locked Pyth tokens, one PTH inadvertently supplied a Solana Wallet Address which, due to the way the private key is custodied, cannot interact with Solana programs. Therefore, any locked tokens assigned to that wallet are currently inaccessible.
This proposal reassigns ownership of 5 locked token accounts from the current owner address to a new wallet provided by the PTH.
Current owner (bricked): BTfjRGPradYrBvP8VAaTU2VjXF1k5MYWFoaU3fuaRSuc
New owner: J3bJGh4FZeB4QvSKPeM6gy3w88pmFf4H87RQmG3MdtCP
This change allows the locked token accounts to be re-parented via Constitutional DAO vote (67% threshold). This functionality is exclusively available through governance vote to prevent silent transfers of locked token ownership without DAO approval.
Implementation Plan
DAO Vote: PROPOSAL LINK
Upon passage, this vote will trigger reassignment of the affected locked token accounts to the new owner address.
Locked token accounts to be recovered (5 total — 352,500 PYTH):
Account:
-
6DPQYmopvQtWEKhuy5XrcUUN6YDJj9AsmUccFt23ZmLW -
2oR1W8Dg2og28Lnryt3zkBZdHXuJCQmFFZyBgsHuoAuE -
HBaxJcyzXzPkjCG63S58mRyDNBDYa33H3gGbSYr68S6d -
8bgpRxDFiKXVeWRaiidp2YmQTT8w4jyHanZCdsUQ6e9C -
46qES156EeCFWnCEKrsfS5E9guoedrX3Q42vStfmFfqx
All accounts are currently owned by: BTfjRGPradYrBvP8VAaTU2VjXF1k5MYWFoaU3fuaRSuc
Ownership will be transferred to: J3bJGh4FZeB4QvSKPeM6gy3w88pmFf4H87RQmG3MdtCP
Upon completion, the affected PTH will have ownership of their locked tokens restored and can stake, vote, and withdraw subject to the terms of the smart contract.