OTC protocol Whales Market launches Whales Market DAO and tweaks token economics
Over-the-counter trading protocol Whales Market announced the launch of Whales Market DAO and adjusted the token economics. When preparing the first DAO proposal, 10% of the team's token allocation (equivalent to 950,000 WHALES tokens) will be converted to xWHALES to give core contributors governance rights, enabling the team to actively participate in proposals and decisions for the long-term development of Whales Market.
In addition, Whales Market also stated that any decision to cancel xWHALES staking in the future will be publicly communicated to ensure that the community is fully informed and involved in important decisions. As xWHALES accumulates profit-sharing shares, the DAO will redistribute rewards to members who actively participate in governance in the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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