Formally sunset Sturdy V1

While Sturdy V1 has not received active contributions in 6+ months, contributors still spend time answering user questions regarding V1, maintaining the V1 UI, and responding to queries regarding V1’s active bug bounty. These activities take valuable time away from contributing to Sturdy V2, which holds nearly all of Sturdy’s TVL at the time of writing.

If passed, this proposal would formally sunset Sturdy V1, and the following would happen after a 45 day period:

  • Lend APR and Borrow APR would be set to 0% and 200% respectively for all markets regardless of utilization rate
  • The V1 UI hosted at would be terminated
  • The bug bounty on V1 contracts would be closed
  • Ownership of all V1 contracts would be renounced
  • Claims for users impacted by the June 2023 V1 exploit would be closed

Note that this proposal does not in any way impact Sturdy V2.