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The law firm warns that Metaplex's zeroing of unclaimed fees may lead to long-term litigation.
Mars Financial News, crypto law firm Burwick Law sent an open letter to Metaplex, an NFT protocol in the Solana ecosystem, urging it to reconsider its plan to transfer unclaimed SOL after NFT adjustment and optimization to the DAO treasury, saying that the act may constitute unjust enrichment and may trigger long-term litigation. Metaplex has announced that TM NFT holders can claim a small amount of SOL through the "resize" operation before April 25, and those who fail to do so within the time limit will have their unclaimed assets automatically transferred to the DAO treasury. Burwick said that the program lacks transparency and that more than 54,000 SOLs have been put at risk of zeroing, with only about 7,043 currently claimed, with the unclaimed portion worth more than $6.5 million. Burwick suggested that Metaplex should immediately suspend the current program, directly refund 90% of the unclaimed SOL to NFT holders, and reserve 10% for network maintenance to avoid lawsuits and maintain user trust. (Cointelegraph)