Ethereum has been confronting backslash for lack in its governance and other shortcomings. However, the more proactive community has now got an opportunity to vote for the upcoming on and off chain governance. Gas DAO is a mega project launched as decentralized autonomous organization (DAO) on Wednesday. And thrives to become “the heartbeat and voice” of Ethereum’s most active users.
Criteria to Take Part in Ethereum’s Governance
Gas DAO has its own native token based EGAS, a ERC-20 token. EGAS has a total circulating supply of 1 trillion. Amongst which 55% of EGAS tokens are preserved for 634,429 eligible wallets which are proactive in network’s activity. Users must have at least spent a $1559 USD on transaction fees.
However, 30% of EGAS tokens are witheld for the DAO treasure accessible immidiately. Remaining 15% of EGAS tokens are conserved for 25 core contributors to Gas DAO platform. Furthermore, users have time till May 1st, 2022 to claim their EGAS tokens. If tokens are left unclaimed then they will be moved into Gas DAO treasury.
Interestingly, users who hold 1 billion EGAS tokens are allowed to submit proposols. And they are allowed to vote on upcoming post on governance. Further, users who hold a minimum of 1.78 million EGAS tokens are allowed to take the role of gas-holder in the Discord. The platform is optimistic of another round of drafting the governance outlook for Gas DAO.
No longer traders realised that Gas DAO is all set for surprise most active users on Ethereum network, Gas DAO burned the most on Ethereum. Interestivngly, more than 133.16 ETH were burnt within just an hour.
Collectively, the platform airdropping 55% of the total supply to 643k amongst the most proactive community. However, Gas DAOs high profile airdrop has managed to impress ETH holders on the first day of its launch. As there are so many competitors arriving in this holiday season, platform preparing itself to fasten up the future upgrades.
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