Burn unclaimed FPIS


After the initial airdrop of the FPIS token, approx. 1.7m FPIS have been unclaimed after the deadline. This proposal will help to clarify how to make best use of them.

Background and Motivation
Currently, the FPIS remains in the FPIS contract. We should vote on what to do with them.

There are two options.

1 Burn the unclaimed tokens
The total supply if FPIS is 100m. Burning the unclaimed tokens will help keep the peg of FPI by being able to mint FPIS tokens in the future. Side effect is a potential increase in FPIS value due to lower circulation.

2 Do nothing
If you are not sure what to do with the unclaimed tokens and option 1 is not the best way, this option is for you.

For: Burn the unclaimed tokens
Against: Do nothing.


I think you are a bit confused about the FPIS distribution.

The docs show that the airdrop FPIS has been burned on the deadline of August 20th 2022 Frax Price Index Share (FPIS) - Frax Finance ¤

This has been in the documentation for months now. The 1.7m FPIS is not unclaimed from an airdrop, that’s an EOA account. The airdrop contract address is here: Frax Finance: FPIS Airgrab | Address 0x3266724e4e58e5891eb30e6d329ba119a192483c | Etherscan

Which you can clearly see has the unclaimed tokens burned. So your proposal can’t really be enacted or voted on because it isn’t doable. If you want to suggest a new FIP, feel free to do so with the new information :slight_smile:

Thanks for clarifying Sam! I will withdraw my proposal.

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