Gitcoin Sets Final Withdrawal Deadline for PGN Assets
Gitcoin has issued an urgent advisory to all users of the Public Goods Network (PGN), marking a firm deadline for asset recovery. Individuals and entities with remaining funds on the sunsetting network must complete their withdrawals by 21:00 UTC on April 20, 2024.
Fate of Unclaimed Funds Post-Deadline
This deadline follows the execution of a previously approved governance vote. The community decision mandates that any fees and unclaimed assets remaining in PGN after the cutoff will be transferred to the Gitcoin Foundation Treasury. Failure to act by the specified time will result in the forfeiture of these funds to the foundation, as per community governance.
Network Status and Secure Recovery Path for Users
The Public Goods Network (PGN), an Ethereum Layer 2 solution focused on funding public goods, ceased operations in October 2023. To safeguard user assets during and after the wind-down process, the development team implemented key safety mechanisms:
- Modified Bridge Escrow Functionality: The cross-chain asset bridge was preserved and specifically reconfigured to maintain a secure withdrawal pathway for a defined period.
- Deployment of a Dedicated Claim Contract: A specialized "Balance Claimer" smart contract was deployed. This contract serves a vital purpose: it enables users to securely claim and transfer any funds left on PGN directly back to their Ethereum mainnet wallet address, even after the network has fully shut down.
This action by Gitcoin represents a final commitment to user asset security during the project's transition phase. All affected users are strongly advised to check their holdings immediately and utilize the active claim contract to secure their assets before the window closes.