Web 3 Data Union Swash is aiming to kickstart its eponymous DAO and enhance uptake of its native $SWASH token, commencing this month. The DAO Ignition marketing campaign will get rolling on February 15, giving contributors the chance to affect the path of the game-changing information possession platform shifting ahead.
That’s not the one incentive, although: there may also be a grand prize up for grabs, with Swash including $20 to the rising prize pool for each individual that participates, till it reaches a most cap of $300K. Should that cap be reached, Swash has pledged to donate $100K to a charity as a part of its Data for Good program.
Whatever the quantity within the ultimate prize pot, a single winner will declare the lot on the conclusion of the marketing campaign, although all contributors will likely be classed as DAO early hen members. As such, they may have the flexibility to influence Swash’s future trajectory.
Ready for Liftoff
Swash confidently refers to DAO Ignition as “the biggest DAO campaign of 2022” – a daring declare given the variety of each established and fledgling decentralized autonomous organizations within the area. Then once more, it’s the form of confidence that stems from having expanded the Data Union base from 5,000 to 220,000 over the course of 2021.
With DAO Ignition, some 10% of the month-to-month common of the quantity held by the neighborhood throughout the year-long marketing campaign will likely be burned, till Swash has finally eliminated a most of 5,000,000 $SWASH from circulation. Thus, by merely holding on to their tokens to maintain the month-to-month common held by the neighborhood excessive, customers press Swash to burn extra tokens over the course of the marketing campaign.
The end result of DAO Ignition will herald the long-awaited launch of the Swash DAO, giving stake-holders the flexibility to collectively reshape a knowledge trade that has, for too lengthy, vested energy into the arms of the identical well-known massive information suppliers: Google, Facebook and Amazon.
To take part within the marketing campaign and enter this system, customers should meet the eligibility standards outlined by Swash here.
After registering, to qualify for an opportunity to win the prize, a minimal of 5,000 $SWASH should be held for at the very least 60 days in complete throughout the course of the marketing campaign (February 15, 2022, till February 15, 2023). These don’t have to be consecutive days, by the way, however should quantity to at the very least 60 days cumulatively whereas the marketing campaign is ongoing.
Reaching New Heights
Swash’s native asset, which has been tokenized on Ethereum in addition to xDai and Polygon, is the lifeblood of a platform that remunerates members for their participation in a good, clear information economic system. Businesses, too, get to profit from entry to better-quality, zero-party information captured in a completely compliant means.
Built utilizing open-source know-how, the startup has expanded from a easy browser plug-in to a complete information ecosystem ruled by the rules of Web 3. With its aggressive burn mechanics and six-figure prize pool, the mission’s upcoming DAO marketing campaign is for certain to make headlines over the subsequent 12 months. After all, when blockchain ventures burn tokens they have an inclination to retain full management over the quantity faraway from circulation. In this case, Swash is throwing it out to the neighborhood: the extra tokens customers hodl, the extra will likely be eradicated from the provision. It’s a captivating proposition and one that ought to set Swash up properly for its full DAO launch early subsequent yr.