SW DAO Opens the Floor for Discussion on SWIP-05
Time to discuss— voting opens January 26th
It’s time to talk about SWIP-05! This vote has the potential for a huge impact on the financial health of the DAO and we’re excited to read everyone’s thoughts in our discord discussion channel #swip-5.
Our new proposal SWIP-05 looks to address some of the concerns traders and investors have about ETH Layer 1 fees, our Liquidity Provisions, and assets on the DAO Treasury Balance Sheet.
SWIP-05: Do you approve of the following changes to SW DAO?
- 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.
- 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.
All three changes outlined above will be approved or denied in a single vote. Governance participants will select one of the following two options:
- “Yes”
- “No”
Voting Period
SWIP-05 voting will be open Wednesday, January 26th at 00:00 UTC until January 29th at 00:00 UTC. Voting will occur via our Snapshot page at vote.swdao.org.
Participation in SWIP-05 is a requirement for monthly Dividend eligibility as this is our only SWIP for January. Pending the outcome, token holders of under 100 SWD tokens will be eligible for a share of the Monthly USDC dividend airdrop.
We can’t wait to read all of your comments and feedback as we head into this week’s community discussion in Discord!
Get Involved
- Join the community on Discord by clicking here
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