DAO Time — Revault’s First Community Based Decision
“If there were a nation of Gods, it would govern itself democratically”
As we’ve been saying from the get-go, Revault was and always will be a community-driven project. Born from the community’s need for a single place to keep their assets yields as high as possible, funded by a small group of close community members, we are now thrilled to announce Revault’s DAO first proposal, and boy oh boy it’s a big one.
As our team is still working on the DAO page on our app, we have decided to start our DAO voting and governance process using Snapshot.org.
Due to the fluctuation of BNB price between the Revault Pre-sale and ILO date, and in order to maintain the agreed $REVA price difference between the 2 rounds, we eventually provided liquidity to Pancakeswap with 57,652 $REVA less than the planned 2.5% (454,545.45 REVA).
These 57,652 $REVA belong to Revault’s community and the Revault team is determined to bring them back to the community in a way that will best assist with the project’s growth.
Accordingly, we believe it is most appropriate that the first DAO proposal of Revault will deal with the way in which the spare $REVA will be used to bring the most value to the project and the core community backing it.
Therefore, the first proposal on Revault’s DAO is hereby raised:
Utilizing the remaining 57,652 $REVA tokens left from the ILO (USD amounts are based on quotes from November 10th, 2021):
- 12,000 $REVA, (Approximately USD 180,000), will be burnt for the sake of strengthening and stabilizing $REVA price.
- 25,000 $REVA, (Approximately USD 375,000), will be used for an Airdrop distribution, proportionally among all $REVA stakers. Eligibility will be determined based on a network snapshot to be taken in the coming days. The $REVA amount per participant will vary based on the amount staked and the lock duration (7–90 days).
- 20,652 $REVA, (Approximately USD 310,000), will be used as incentives for user acquisition pools on major AMM platforms such as Syrup pool on Pancakeswap.
If you are a $REVA staker we urge you to go to Snapshot.org and cast your vote either FOR or AGAINST our first DAO proposal.
History in the making