SWIP-05 Voting Opens in 24 Hours

see you soon :alarm_clock:

One very important SW DAO Improvement Proposal will both come up for a 72-hour vote beginning January 26th at 00:00 UTC on vote.swdao.org.

Be sure to turn on desktop notifications at our voting page so that you never miss an upcoming vote.

SWIP-05: Do you approve of the following changes to SW DAO?

  1. 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.

  1. 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.

  1. 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.

All three changes outlined above will be approved or denied in a single vote. ‌Governance participants will select one of the following two options:

  1. “Yes”
  2. “No”

Forum Discussion:

SWIP-05: The Polygon Proposal, Balance Sheet Clean-Up, and Liquidity Optimization Plan

Snapshot Vote:

https://vote.swdao.org/#/proposal/0xc2b46575e2d0f070a073990d597711160ea553dd391484da258715aac1c52074

Why Participate?

If you like the idea of governing a bank and receiving passive income for doing so, here’s what you need to do:

  1. Purchase at least 100 SWD tokens here . Unfortunately, gas fees currently prohibit us from sending the dividend to addresses with less than 100 tokens. We are seeking to address this in SWIP-05.
  2. Hold those tokens for at least 30 days.
  3. Participate in more than 50% of community governance votes per month.

That’s all! Just buy, hold, and participate. You’ll automatically become eligible for the monthly USDC dividend.

Get Involved

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