The SWEAT token team from Sweat Economy has recently presented a new Web3 governance proposal that will allow the community to decide on the fate of 100 million of its native tokens. The voting procedure is scheduled to happen on April 18th and will give the community the power to choose how to handle the 100 million SWEAT tokens. They will also decide how much of it will be rewarded to long-term stakers and how much of it will be burned. The interesting aspect of the vote is that those who have liquid tokens will be able to vote, but those who have their SWEAT staked won’t be able to participate. One token will equal one vote.
- Oleg Fomenk, the co-founder of Sweat Economy, added:
“We believe that everyone should have a say in the direction of our company, regardless of the amount of tokens they hold, their knowledge of Web3 governance, or wallet connection. Our innovative vote mechanism will make it easy for anyone to have a voice and participate in the decision-making process.”
- The press release, as shared by CryptoPotato, mentions that there will be five percentages to denote the denominations: 0%, 25%, 50%, 75%, and 100%. If there is a decision to distribute a part of the funds, the average of the selected denominations will be calculated after the voting window. Those who stake in the app for 12 months will receive a proportionate amount of tokens from the 100M token pool.