Law firm urges Metaplex rethink fee sweep or risk ‘extended litigation’
Burwick Law has criticized Metaplex's plan to sweep unclaimed Solana (SOL) into its treasury instead of returning it to NFT holders, warning of potential litigation. Metaplex discovered a method to reduce on-chain storage for NFTs, allowing holders to claim SOL. A deadline of April 25 was set for NFT holders to execute a "resize optimization," after which unclaimed SOL would be transferred to the Metaplex DAO. Burwick highlighted that over 54,000 SOL tokens are at risk, with only 7,043 claimed, amounting to over $6.5 million unclaimed. Concerns were raised about the lack of clear communication regarding the sweep. Burwick suggested pausing the plan and refunding rent directly to NFT holders while keeping a 10% maintenance bounty. This approach aims to protect users and preserve DAO funding, promoting self-regulation within the Solana ecosystem.
