GM! This post outlines the final implementation plan for the TEC token sunset.
Sem and I are managing the technical execution, and I have to say, it’s great to be working with Sem again in the TEC 
1. Snapshot Details (Important)
As stated in the previous forum post, To prevent last-minute speculation, the amount each address can claim will be based on:
the LOWER of:
(1) TEC balance held on July 23, 2025 (when the sunset plan was publicly announced), or
(2) TEC balance at the dissolution date (when this proposal passes & the snapshot is taken).
This means 2 things:
-
People who sold TEC after July 23rd should really buy TEC back.
-
Anyone who accumulated additional TEC after July 23 will have those excess tokens deducted from their final claimable amount, so those people should sell the TEC they bought.
Here is a spreadsheet outlining the differences in balances from July 23rd and Nov 26th:
2. Addresses Requiring Balance Deductions
If the final snapshot were Nov 26th, these would be the amounts will be subtracted from their balances before calculating claims:
| Amount to Deduct | Address |
|---|---|
| 14,348.58 | 0xd0cCFeEF904cCE8e0C70014dB37e5133a6A8AA1c |
| 5,073.765377 | 0xD4FE5d6111bCC563Dbc1830CB30ce8140628123F |
| 160 | 0xB941365430A16659658bb23B88eFAede1D839354 |
| 64.7089312 | 0x404a8094656CBfe38353F637E815fCc05820E949 |
| 41.16796195 | 0x82079d8B7fa26D82b3db500c84b213b4B6A013c7 |
| 20.4681082 | 0xcb84A9c28e74A87E118Cf23889CF2D4C16dE8c5e |
| 4.511925333 | 0x006004d6c39590d39310a0d34181e15d9aDe3902 |
| 2.273129121 | 0xcD6b980029E6E6e0733ac8eC3E02be9410D09799 |
| 1.638111116 | 0x66dF5A7715C5D4AfbBFA52435c66aa20733be0d1 |
| 1.452293064 | 0xCa423977156BB05b13A2BA3b76Bc5419E2fE9680 |
| 0.1143463414 | 0x08F498Ad4952628546D8EE700605b9131a0C6e8e |
| 0.08712505665 | 0xeAD571eDa530604e6Bb354B0D574efaB23c60d69 |
| 0.07959812275 | 0xd39B2A01D4dca42F32Ff52244a1b28811e40045F |
| 0.04969817151 | 0x4ACb6C4321253548a7d4Bb9C84032Cc4eE04bFD7 |
This is not the final adjustment, that will be done based on the snapshot at dissolution and the extra funds that would go to these speculators will instead be split pro rata to every other TEC holder.
Special note! It seems like 0x711B4F66c19a741D7dB95AC87641BD8635FB21c8 may have sent 14k TEC to 0xd0cCFeEF904cCE8e0C70014dB37e5133a6A8AA1c…. I hope they send it back. 
3. What We Are Building
We are replacing the bonding curve with a minimal withdrawal / claims contract that distributes the treasury to TEC holders.
Core Features
-
Users call contract, TEC is taken from their address, and they receive a proportional share of treasury.
-
Pro-rata payout based on circulating supply (excluding TEC held by DAO contracts, LPs, or burned).
-
Two-token distribution:
- rETH
- DAI
-
~6-month claim window (after which Giveth can close claims).
-
After window closes:
-
claimRemaining()becomes callable by grants.giv.eth - All unclaimed funds → giv.eth
-
-
No hacked-wallet logic in the contract
- All edge cases are handled manually before or after the window.
You can read the contract source code at GitHub: TECClaim.sol. It includes tests that cover all edge cases we could think of and all the life-cycle of the claim contract.
We simulated the vote and the post-vote transactions in a Tenderly simulation using EVMcrispr, and everything is good.
4. Frontend & Hosting
-
A simple claims UI will be hosted at:
https://convert.tecommons.org/ -
Early draft preview (h/t to Zep for helping me vibe code it):
https://tec-claims-contract-olls.bolt.host/
5. Pre-Deployment Treasury Work
Before the contract goes live, the Stewards team is:
-
Sending all reachable treasury assets to
0xb98bcd4911d16715a28cd7b83b158ccc41969534 -
Removing liquidity:
- TEC/OP LP → recover TEC + OP
- TEC/GIV LP → recover TEC + GIV
-
Convert all volatile assets into RETH and stable assets into DAI, and bridge to Optimism.
-
Send all TEC, RETH & DAI to the Common Pool, except for amounts needed for the final contributor payments.
6. Governance Steps
The final TEC vote.
The proposal will:
- Withdraw the rETH from the ABC and send to the Common Pool
- Approve the claims contract to withdraw rETH + DAI from the Common Pool.
- Burn the TEC in the Common Pool
- Define the dissolution timestamp for the snapshot.
7. Claims Preparation Post-Vote
Before the opening of claims we will prepare:
- TEC Balance Snapshot after dissolution
- Final applicable TEC balances after taking into account the lower of the July 23, 2025 and dissolution date balances.
- Total circulating TEC supply considering TEC balance deductions and subtracting the amount of TEC held in the Common Pool, and any other TEC owned contract to ensure correct pro-rata calculations.
8. Timeline
- Governance vote: first week of December
- Claims open: mid-December
- Hard deadline: Before Christmas
- Edge Case Reporting Deadline: January 31, 2026
- Claims Close: June 20th, 2026
9. Edge Cases & Manual Handling
Lost / Hacked Wallets and other edge cases
- Report edge cases to @ZeptimusQ on telegram.
- If we are notified before the Edge Case Reporting Deadline, Giveth may manually send funds from the unclaimed pool after claiming the left over funds.
Unclaimed RETH & DAI
- After the window, all remaining funds are sent to giv.eth.
Final Notes
This post is the authoritative description of the TEC sunset implementation. If anything here contradicts an older post, this is because it was technically difficult, this version is the final version.
Please add comments or questions below, we’ll iterate quickly.
Thanks everyone for helping bring the TEC experiment to a responsible and transparent close.
Griff + Sem
