Voting on SWIP-05 has ended and it’s a landslide victory of “Yes”, with the support of 67 governance members representing 76,000 SWD tokens to implement change. We look forward to these new improvements and seeing how they’ll have a major impact on the SW DAO ecosystem going forward.
100% of the 67 governance members representing 76,000 SWD tokens voted “Yes” approving of all three-in-one changes. This change will shift a significant portion of SW DAO activity like the dividend to Polygon, clean up the DAO Treasury Balance Sheet, and optimize the DAO Treasury Balance Sheet.
Some community members suggested increasing SW DAO product allocation on the balance sheet in favor of Ethereum. Every community member agreed without argument that moving to Polygon is the right decision, specifically due to the lower fees.
The monthly USDC dividend will be airdropped solely via the Polygon network beginning on March 1st. February 1st will be a hybrid Layer 1/Layer 2 dividend airdrop acting as a grace period for non-bridged token holders. The dividend multiplier will be unaffected by all who bridge to Polygon.
The 100 SWD token hurdle will be removed beginning February 1st for all Polygon network SWD holders. We are excited to give full governance access and incentives now to both larger and smaller SW DAO investors.
SW DAO Treasury will convert 41.84% of total assets to ETH, 23.26% of total assets to SWAP, 23.26% of total assets to SWYF, and 11.63% of total assets to MATIC.
SWD token liquidity will be distributed 70% in a new Polygon Balancer Pool with SWAP/SWYF/ETH/MATIC, and 30% on Uniswap, Sushiswap, and Quickswap for SWD-ETH pairing.
Thank you all for participating in January’s governance votes!
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