EmiSwap Explained: the EmiDAO Role
Good news for our regular readers: we plan to publish a series of short articles that describe the key elements of EmiSwap — the first of its kind community-governed exchange powered by NFT mechanics. And today we’d love to tell you more about EmiDAO and its role.
The first truly autonomous DAO
EmiSwap is the first project in the EmiDAO ecosystem governed by the holders of ESW tokens. Being the first truly autonomous DAO, EmiDAO gives the community an opportunity to be the actual owners of the project and entitles them to get a share of the platform’s profits. ESW holders vote on the decisions on the future development of both EmiSwap and new projects to be launched according to a voting procedure.
This way, the mission of EmiDAO is to create an ecosystem of community-governed projects that operate in the DeFi industry and meet the current and emerging needs of users. The EmiDAO economic model works in a balanced way for all project participants and encourages them to make decisions that influence their profits.
Third-party developers are also able to apply for the inclusion of their projects in the EmiDAO ecosystem. Though, a project can be added to the ecosystem first after passing the necessary audits of the source code and taking a vote among the ESW token holders.
ESW governance token
As mentioned in our previous articles, the ESW governance token plays a key role in the EmiDAO ecosystem. Additionally to decision-making powers, each user who buys ESW tokens gets a share of EmiSwap profit proportionately to a share of token ownership: 0.05% of exchange trading volume is distributed among the community members.
There are several ways to get the EmiDAO native ESW tokens: the easiest way is to buy them on the token sale. Only 20% of the total ESW supply will be sold on the token sale at a low price of 0.11 DAI. Participants get vesting for 1 year with a quarter unlock by equal shares.
Note that the EmiSwap beta is already live. To reward the early adopters who join us at this stage, we plan to distribute 50,000 ESW equivalent to 5,500 USDT proportionally among the soft launch participants.
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