Get Ready For The Power Airdrop: Waves And Locked Tokens Snapshot On March 10

Power DAO has 1,000,000 POWER tokens, with 90% of the supply (900,000) allocated for airdrops to promote decentralization and distribute governance authority to the community. The remaining 10% (100,000) will be held in the Power DAO treasury for incentives, rewards, buybacks, and Special Purpose DAO grants as decided by the community.

According to a statement published on Twitter by Sasha.waves, next Friday, March 10th, a snapshot will be taken of $Waves tokens (and any tokens locked in $Waves). This snapshot is a necessary step in the process of distributing free $Power tokens to eligible $Waves holders.

$waves (and all the tokens that have $waves locked) snapshot for $power airdrop will happen next Friday, the 10th.

— Sasha.waves (@sasha35625) March 3, 2023

To ensure maximum community control, POWER’s allocation model is straightforward. Instead of the total allocated tokens being distributed in a single airdrop, it will be executed in two phases. The first phase will be the Genesis Airdrop, consisting of 10,000 unstaked POWER tokens.

During this phase, the minimum quorum for votes is 20% of all POWER holders, with 90% of the Genesis Airdrop allocated to WAVES token holders and the remaining 10% to WCT token holders. The second phase will be a series of Community Airdrops, with each proposed community or group receiving 1% of the remaining total supply of POWER.

Successful candidates for a Community Airdrop must have a proven track record of community engagement and governance participation, clear goals and plans for the use of the airdrop, strong leadership and a dedicated team, transparency and accountability in managing the airdrop, evidence of community support and buy-in, and a clear and transparent process for evaluating and distributing the airdrop.

Staked POWER tokens will have full utility and voting functionality, and the airdrop has been designed to maintain scarcity over time, encouraging price discovery and appreciation. As the price of POWER increases, rewards and competition for achieving KPIs will become more valuable, attracting the most talented and high-performing contributors to Power Protocol communities

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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