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  • William Ryan

Dawn Token Proposal: Unswapped Tokens


Background:

Since we announced our token swap last year. Now we’ve completed the migration of over 78.81% (+6.8% from last proposal) of the network according to Etherscan and special thanks to our community and partners who helped us accomplish this. As the community is participating on [ Proposal #2 ] and deciding how long before swap is closed, we would like to introduce a new proposal for network participants to decide on what to do with the unswapped tokens.


Purpose:

Due to overwhelming feedback from active network participants (current Dawn holders), we are initiating this proposal with the intention of figuring out the best way to move forward with the unswapped tokens since these tokens will eventually be locked in the contract. Hopefully, by the end of this proposal, we will be able to move forward with a plan that’s most advantageous to the entire community.

Proposals:


Please choose the plan in which you would like unswapped tokens to be treated.


Proposal #1:

Burn the entirety of unswapped tokens to reduce redundant network supply as soon as token swap concludes. We will send the unswapped tokens, on a schedule, to a one-directional address and provide proof to the community.

Proposal #2:

Do nothing with unswapped tokens

Proposal #3:

Contribute unswapped tokens to a DAO which can be used as incentives for community engagement, development and marketing growth. All token holders can submit and vote on proposals how the DAO allocates its budget.

Proposal #4:

Contribute unswapped tokens to a liquidity mining pool (Dawn LMP) which can be used as incentives for holders to stake and provide decentralized liquidity. The incentives will be distributed on an adjusted APY% based amount of LP participations.

To Participate:

You need to withdraw your tokens from a cryptocurrency exchange to an Ethereum wallet that supports DeFi, like MetaMask or to a hardware wallet like Trezor.

To get started, visit https://snapshot.org/#/dawn/proposal/QmWiyWiBsCEmaf1Uun4YvD8TPF9bWhDywoASCUFbP8hnzU.


Important Details:

Thank you for participating!

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