Sweat Economy – a fitness-focused decentralized application – announced the launch of a new governance vote on June 7th in the Sweat Wallet application. The move would enable the community to decide the fate of 2 billion idle SWEAT tokens in inactive user accounts. According to the official press release shared with CryptoPotato, users will be given two options. They can either vote in favor of having the 2 billion idle SWEAT tokens recovered and transferred back to the ecosystem treasury for potential future distribution (or other uses as decided by upcoming votes), or they can vote in favor of leaving these tokens in inactive user accounts. For the proposal to be approved or denied, a minimum of 75,000 votes is required. This criterion is requisite to ensure everyone
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Sweat Economy – a fitness-focused decentralized application – announced the launch of a new governance vote on June 7th in the Sweat Wallet application.
The move would enable the community to decide the fate of 2 billion idle SWEAT tokens in inactive user accounts.
- According to the official press release shared with CryptoPotato, users will be given two options.
- They can either vote in favor of having the 2 billion idle SWEAT tokens recovered and transferred back to the ecosystem treasury for potential future distribution (or other uses as decided by upcoming votes), or they can vote in favor of leaving these tokens in inactive user accounts.
- For the proposal to be approved or denied, a minimum of 75,000 votes is required. This criterion is requisite to ensure everyone has a fair opportunity to make their vote count.
- Besides, the proposal will run for at least seven days. A three-day extension may be granted in the event of an ongoing influx of votes.
“The new governance vote aims to resolve the lingering question: what should be done with these idle tokens? Sweat Economy now allows token holders to participate directly in the decision-making process, exercising the principle of one person, one vote, thereby democratizing the token’s future.”
- The team behind the network believes the new governance vote is “notable” due to the vast volume of SWEAT tokens at stake as well as the “deepening commitment” of the ecosystem to community-centric decision-making.
- Sweat Economy said that the previous vote reportedly garnered 153,783 participants and expects to witness higher engagement numbers this time around.