Governance on Polygon (MATIC)
FeSwap has been deployed on Ethereum mainnet, but not been widely adopted for the sake of high gas fees and low available liquidities. So FeSwap DAO decides to deploy its commission-free DEX Dapp on Polygon considering the lower transaction cost and higher transaction performance.
FESW@M will be minted to be used as the governance token on Polygon. FESW@M has no correlation with FESW-like tokens on other Ethereum-compliant network, and just can be used as the governance token on Polygon.
Total supply of FESW@M token is 1 billion, all are minted at the momemt of deployment, and cannot be minted any more.
- FESW@M Name: FeSwap DAO
- FESW@M Symbol: FESW@M
- FESW@M Total supply: 1,000,000,000
- FESW@M Inflation rate: 0
70% of FESW@M will be airdropped to community members, mainly 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 | 3% | First 10,000 NFT creators of the asset exchange pools |
| NFT Bidders | 17% | NFT bidders of the exchange pool NFTs |
30% of FESW@M 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 Polygon |