SWIP-01 Polls Have Closed & The Results Are In
Voting has closed in our first community governance poll, and it’s a landslide victory for USDC!
The Results
SWIP-01 was the public’s first chance to make a decision about the future of the community-led DAO. An overwhelming majority voted to receive their monthly revenue-based dividend in USDC rather than SWD, with a margin of 91.78% to 8.22%. 83,210 SWD of the eligible circulating supply tokens participated out of a pool of approximately 130,000 eligible tokens. This represents 64% of eligible tokens, a fantastic turnout for our first-ever proposal.
Discussion
Based on the discussion forum, users seem to prefer the stability and flexibility that stablecoins offer. Some users say they plan to reinvest their dividends into SWD or SW DAO investment products while enjoying the freedom of choice that stablecoins offer them. Others cited worries about increasing centralization into the hands of early adopters as their reason for voting against payment in SWD.
Moving Forward
The community’s decision presents SW DAO as a unique investment prospect to newcomers, as yield is derived from product revenue rather than token supply issuance. This dividend is then delivered in a form that is unresponsive to the volatility in the crypto market. The inaugural SWD Dividend will be paid out on December 1st to those who participated in the governance process, at a rate of roughly $0.51 per token held.
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