WX DAO is a DAO (Decentralized Autonomous Organisation) based on the Power protocol whose goals are to improve the WX Network platform and increase the WX token price. To achieve these goals, WX DAO participants offer proposals to vote, which may lead to an improvement of the "WX Network" protocol and an increase in the price of the WX token. WX DAO participants are financially interested in offering and accepting thoughtful and high-quality proposals. If the accepted proposals have a positive impact, participants receive 20% of WX DAO treasury's growth in value. The WX DAO treasury includes 10 million WX tokens donated by WX Network team, as well as WXG tokens transferred into the treasury several times a week from this Waves address.
You are a participant of the WX DAO, if:
- you had WX tokens in staking at the time the WX DAO is launched (November 8, 2023);
- you invested $WAVES in WX DAO on pre-launch phase (till November 8, 2023);
- you bought $WXDAO tokens and exchanged them for staked $POWER tokens. $WXDAO token price depends on the treasury's worth: the price increase along with the increase in the treasury's worth. Since several KPI periods are already passed, each new WX DAO participant get a reward from the previous periods during the exchange WXDAO tokens for staked POWER. This reward can be claimed in the 3 months through the My Rewards tab.
Note: all WX DAO participants receive staked $POWER tokens, whose can be unstaked after one full KPI period (one KPI period is 3 months). For example, if user became the WX DAO participant between first and second KPI period, then it will be able to ustake his POWER tokens in the third KPI period.
How to participate in WX DAO
At the WX DAO pre-launch phase, it needed to invest $WAVES or stake $WX tokens to beome the WX DAO participant. All pre-launch participants of WX DAO already received their staker $POWER tokens.
But don't be upset if you didn't join the WX DAO on pre-launch stage! You are able to participate in WX DAO by $WXDAO token purchasing. Just buy it on the Spot market, exchange it for staked $POWER tokens via the WX DAO tab and start to earn for growth of WX DAO treasury value. But do not delay $WXDAO token purchase for long, as its price increases along with the increase in the treasury's worth, e.i. each day.
When you swap WXDAO to staked POWER, you receive a reward for the previous KPI periods. This reward can be claimed in 3 months in the My Rewards tab.
If you have any questions related to WX Network, feel free to contact us.
tags*: community suggest offer proposal power dao vote voting gwx wx newbie wxdao