AIP-11: Relinquish Ownership of Ethereum Mainnet $AITV Token Contract

Governance
1

AIP-11: Relinquish Ownership of Ethereum Mainnet $AITV Token Contract

AIP-number: 11
title: Relinquishing Ownership of the Ethereum Mainnet $AITV Token Contract
author: Jelli (@dOrgJelli)
status: Voting
created: 2025-11-25

:receipt: Simple Summary

This proposal requests approval for the AITV DAO to permanently relinquish ownership of the Ethereum mainnet $AITV token contract by setting its owner to the 0x0000000000000000000000000000000000000000 (zero) address.

This action removes upgradeability privileges, eliminates external control, and ensures the token contract is fully immutable—resolving warnings on aggregators like CoinGecko that currently flag owner-controlled tokens as potentially upgradeable.

:magnifying_glass_tilted_left: Motivation

Many token listing platforms (such as CoinGecko and CMC) display warnings when a token contract has an upgradeable proxy or an owner with upgrade authority. Although the DAO has no intention of modifying the core $AITV token contract, these warnings can create confusion or concern among holders and purchasers.

By renouncing ownership:

  • The contract becomes permanently immutable.
  • External dashboards will remove “owner can change the contract” warnings.
  • Transparency and trust in the token improve.
  • The DAO aligns with the industry’s best practices for governance-minimized ERC-20 tokens.

This strengthens credibility and reduces friction for new token holders.

:gear: Specification

If approved, the DAO will execute a single on-chain action:

  • Set the owner of the Ethereum mainnet $AITV token contract to the zero address (0x00…00).

Technical details:

  • Contract: $AITV Token (Ethereum Mainnet)
  • Current owner: AITV DAO Treasury
  • New owner: 0x0000000000000000000000000000000000000000
  • Effect: Owner privileges (e.g., upgrade, admin operations) are permanently removed and cannot be restored.

This action does not change token mechanics, supply, balances, emissions, utilities, or functionality.

:light_bulb: Rationale

Renouncing ownership is a widely accepted practice for ERC-20 tokens that no longer require upgradeability or active administrative control. This proposal prioritizes:

  • Security: No entity—including the DAO—will have special privileges over the token contract.
  • Immutability: Users can verify the token cannot ever be modified.
  • Reputation & Transparency: Many platforms automatically trust owner-less contracts more than admin-controlled ones.
  • Simplicity: There are no complex alternatives needed.

Given the token’s mature state and lack of need for future modification, renouncing ownership is the clearest and safest path forward.

:outbox_tray: Transaction Details

Action:
Execute the renounceOwnership() function on the Ethereum mainnet $AITV token contract, resulting in:

  • Owner set to: 0x0000000000000000000000000000000000000000

Outcome:

  • The DAO relinquishes all upgrade or admin privileges over the token.
  • No further changes to the token contract will ever be possible.

:date: Snapshot Link (after forum phase)

https://snapshot.org/#/s:aitv.eth/proposal/0x9ae165384d958260e0373cc2bd9213f8e77042845ad95d99dc276f1931e08f60

4 Likes
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My Thoughts on the AITV Token Ownership Proposal…

I believe that making the AITV token immutable is a positive step. Having our own native token that can’t be changed in the future means we’re building trust and stability, especially as we operate under the Base network and Ethereum. This approach can help us stand on our own and reduce the risks of sudden, unexpected changes.

However, my main concern is ensuring that we fully understand what can and can’t be changed once the ownership is renounced. It’s crucial that we carefully review the contract and confirm that there are no essential functions that we might need in the future. If everything is solid and secure, then I’m in support of this move. It’s an exciting development that can help AITV grow and gain more credibility.

I’m in support of the proposal, as long as we ensure that all potential future needs are considered. It’s definitely a step towards greater independence and trust for the AITV community.

4 Likes
3

Am in support of this because even Base App flagged the Token. This is a positive upgrade here.

1 Like
4

This will actually help the aitv token and I’m in support

1 Like
5

Hey @AhoyGodSon you bring up a great question: are we sure that we will not need a token upgrade for any future essential functionality?

Myself and Jure aka Nerfzael (our lead protocol engineer) have determined that this is safe to do. If there are other core functionalities we want to deploy for the token, we can simply implement those within external contracts. For example, we have deployed an external staking contract to enable the veAITV governance token.

2 Likes
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Sir, dOrgJelli

I’m supportive of the idea of a native token for AITV.

My main concern is making sure that we’ve considered all essential features upfront so that we can avoid the need for upgrades in the future. I believe that by thoroughly planning now, we can create a stable and resilient token that grows with the platform. I’m excited about this direction and look forward to seeing how AITV evolves.

1 Like
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I do agree that executing on this front will definitely make the token look better.

One question that I have is that the token is also in base & bsc - Do we plan to do the same there? Maybe I am wrong but I think that the token will still be flagged in those pools if we don’t do the same in other chains

1 Like
8

Totally agree with this proposal the move seeks to give the token required recognition needed in order for it to fully attain the main purpose the devs set out for it.

1 Like
9

Unfortunately the L2 tokens (BSC, Base) are Wormhole wrapped tokens, and there’s no way for us to relinquish control as the owner is the Wormhole network. Luckily most token trackers (Coingecko, CoinMarketCap) use the mainnet token.

2 Likes
10

I would say that this is a smart move and I would definitely go for and not against this proposal. Relinquish ownership, is worth trying and with this there will be transparency.