Dubai, UAE – January 17, 2022 – Users of Plenty DeFi, Objkt, Quipuswap, Kalamint, Crunchy, Wrap Protocol, and Hic Et Nunc were notified of their eligibility to claim their portion of the 500 million token airdrop via TezDAO’s Twitter account on the morning of Monday, January 10. Users were defined as wallets having interacted with these platforms from launch until January 7, 2022. The portion of the distribution a user receives was based on a combination of transaction volume across these platforms and the cumulative transaction volume of a given wallet through those platforms during the time frame. Users have until June 30, 2022 to visit the TezDAO website and claim their portion of the airdrop.
TezDAO is the creation of Ian Weyenberg and, Draper Goren Holm founding partner, Josef Holm, intended to serve as an experiment on the viability, power, and sustainability of decentralized autonomous organizations (DAO) within the Tezos ecosystem. While Draper Goren Holm did not invest in TezDAO from a funding standpoint, the firm’s commitment to the Tezos ecosystem and community has led it to provide the development of TezDAO with administrative support, initial guidance, as well as endorsement.
“The importance of a successful community-run DAO, one unbound by external capital and predetermined agendas, is undeniable to any truly decentralized ecosystem. Tezos and the TezDAO platform are positioned better than any project out there to deliver on such a utopian view and, as community members first, DGH wants more than anything to see that happen,” states Josef Holm.
“As a first of its kind DAO on the Tezos ecosystem, TezDAO seeks to enable community participation through DAO governance, community empowered grant distribution to exciting projects, staking, and yield farming by way of its native token, $TezDAO,” said project co-creator Ian Weyenberg. As the project was born absent of outside funding, where it goes from here will solely be determined by its community participants. “The beauty of this project is that its roadmap is a clean slate unimpacted by outside influences. A community of highly engaged, first movers, will be those shaping the future of this project from day one,” shares Josef Holm.
“DAOs are an evolution of networks and organizations, and we are only starting to see the potential,“ said TezDAO contributor Ryan Krueger. “When I learned that a DAO would be forming around this particular group of Tezos users that I was a part of, I joined in and started working with Josef and Ian to talk through ideas and use my skillset. Anyone in the community can join in and influence the future of TezDAO in some way, and I think that’s incredible.”
To establish its initial community, TezDAO creators allocated 50% of the 1 billion token max supply to users of the top Tezos platforms via this fair launch token airdrop. These platforms were selected in order to reward and onboard some of the earliest and most engaged members of the Tezos community.
“Knowing the roadmap will be determined by the TezDAO community, it was critical to identify some of the most passionate community members in the ecosystem right away. Where better to find those individuals than by way of early adopters of Tezos projects,” shares Josef.
The remaining portion of the token supply will see 20% go to staking incentives, 20% go to the TezDAO treasury, and 10% go to LP incentives. For those that may have missed out on the initial token drop, TezDAO liquidity pools have already formed on the Crunchy, Plenty, and Quipuswap platforms.
“The TezDAO community will be well-positioned to serve as the leading, 100% community-controlled, organization in helping to shape the future of the Tezos ecosystem; all Tezonians seeking such an opportunity are welcome,” states Ian.
While the project is not associated with the Tezos Foundation, Tezos was chosen thanks to its position as the premier open-source platform for assets and applications with the built-in ability to evolve over time through a second-to-none on-chain governance structure focused on protocol upgrades.
“The TezDAO project doesn’t seek to change, challenge, nor influence the existing Tezos protocol governance. That’s what Tezos bakers are for. Rather, this project’s goal will be to offer the community its independence in shaping the direction of the ecosystem itself. The future of DAOs is upon us and it’s the Tezos community that will be determining it.” states Josef Holm.
For more information on TezDAO please visit tezDAO.org.