Prop 90: Finalize Rave Shutdown: Disable Bridge 17 and Recover Escrowed INIT
1. TL;DR
Rave (rave-1, bridge 17) has been shut down following its wind-down notice. All user funds bridged to Rave have already been reimbursed 1:1 on Initia L1, 187,609.164518 INIT distributed to all 350 holders on 2026-08-03. This proposal completes the wind-down by (1) disabling OP bridge 17 so no further deposits can enter the retired rollup, and (2) recovering the 211,275.815167 INIT remaining in the IBC escrow to a team-controlled address.
2. Background
Rave was delisted from VIP via Proposal 89 and its Minitswap pool was deregistered via Proposal 86. The rollup halted at block 32380209 on 2026-08-03, inside the window committed in the user notice. Rave has been removed from the Initia chain registry.
A snapshot of all INIT holders on Rave was taken and verified three ways: it sums exactly to the on-chain token supplies, it matches an independently produced snapshot, and it is identical to the final chain state at halt.
3. User Reimbursement (already completed)
Every Rave INIT holder was paid 1:1 on Initia L1 from a team wallet on 2026-08-03, before this proposal:
| Tx | Height | Sends | INIT |
|---|---|---|---|
2B1B848D…61FA |
20232214 | 100 | 187,497.187960 |
EB93988372…C357 |
20232248 | 100 | 103.362503 |
1251F89B2D…D32D |
20232269 | 100 | 8.363916 |
6C9FFEF8A4…6016 |
20232282 | 50 | 0.250139 |
| Total | 350 | 187,609.164518 |
The remaining escrow balance therefore has no outstanding user claim. It consists of: the reimbursement owed to the team for the fronted distribution, Minitswap backing, and protocol fees.
4. Technical Change
Message 1 - MsgDisableBridge: disables OP bridge 17, preventing further deposits into the retired rollup.
Message 2 - MsgGovExecuteJSON executing 0x1::coin::transfer:
sender:init1a3lx753q8dzsu2hdxv6hzxrn0srdpaysyzlzl2(channel-38 IBC transfer escrow)recipient:init1kgxgq8fcnjlnuyn9vxhp0n7lnmawmsq7yynjzz(team-controlled address)metadata:0x8e4733bdabcf7d4afc3d14f0dd46c9bf52fb0fce9e4b996c939e195b8bc891d9(uinit)amount:211275815167(the full escrow balance)
5. Governance Votes
- Yes: Disable bridge 17 and recover the escrowed INIT to the team-controlled address.
- No: Do not disable the bridge or recover the escrow.
- No With Veto
- Abstain