Governance on Binance Smart Chain
Compared to Ethereum network, Binance Smart Chain (BSC) is cheaper in terms of gas fee, and faster in terms of transaction handling. For new Defi applications, it is extremely difficult to cold-start in Ethereumm now, and BSC becomes a better choice to experiment and prove some noval ideas.
FeSwap DAO has decided to deploy its commission-free DEX Dapp on BSC, considering it is EVM compliant, crypto asset aboundant and ecosytem mature.
FESW@B will be minted to be used as the governance token on BSC. FESW@B has no correlation with the FESW token on Ethereum, which has been distributed, locked, and cannot be moved off Ethereum.
Total supply of FESW@B token is 1 billion, all are minted at the momemt of deployment, and cannot be minted any more.
- FESW@B Name: FeSwap DAO
- FESW@B Symbol: FESW@B
- FESW@B Total supply: 1,000,000,000
- FESW@B Inflation rate: 0
70% of FESW@B will be airdropped to community members, mainly including liquidity providers, asset pair NFT creaters and bidders:
| Community Members | Percentage | Rules |
|---|---|---|
| Liquidity Providers | 50% | Liquidity mining of main crypto asset exchange pools |
| NFT Creaters | 5% | First 50,000 NFT creators of the asset exchange pools |
| NFT Bidders | 15% | NFT bidders of the exchange pool NFTs |
30% of FESW@B will be distributed to FeSwap contributors, development team, and FeSwap DAO treasury fund:
| Distribution Target | Percentage | Goals |
|---|---|---|
| Current Contributers | 3% | Encourage contributors |
| Future Development Team | 12% | Drive future developing |
| FeSwap DAO Treasury Fund | 15% | Fund FeSwap DAO growth on BSC |