DAWN: Token Swap Closure

DAWN: Token Swap Closure

 According to a publication on January 27, 2021, DAWN has been looking to close their token swap that they previously enacted. Prior to discussing the relevance of this closure, it is imperative that the reader understand the inception of this opening of the token swap as well as the timeline of the decision-making. 

Their announcement of token swap happened early last year, with the recognition that approximately 71.99% of the coins were migrated off of the network (according to Etherscan data). This announcement is something exceptional and important to understand, as it shows that a relatively substantial amount of coins still remain on the network; however, the swap was largely successful due to the help of the community and the partners of DAWN Protocol. Given that the network migration process has been coming to a close, the developers behind Dawn Protocol want to invite their community to participate in deciding the final closure date to be announced. 

DAWN provides their community and platform members with the following closure date options: 

  1. Three (3) Months from the 14th of April
  2. Six (6) Months from the 14th of April 
  3. Nine (9) Months from the 14th of April
  4. Twelve (12) Months from the 14th of April 

These proposed timelines are an interesting feat, as it demonstrates the importance that Dawn places on its own users and consumers – rather than enforce a predetermined closure date, the developers behind DAWN put faith and trust into their own users. Whichever date receives the majority vote from users will be the established closure date, causing the migration process to come to an end; remaining outstanding tokens will not be able to be migrated off of the network after the selected date. 

While there has yet to be an option selected out of the four below, viewers should recognize that “The first 100 voters are going to receive an airdrop of 150 tokens, and the following 100 voters will receive 100 tokens, so there’s even more reason to vote”. The contents of this quotation, provided directly by Dawn’s website, demonstrates their attempted incentivization of voting from their token holders – again, showing that they value the voice of their community and platform members. Assuming the community looks to provide one another with the longest possible time to move their tokens off of the network, they would likely select the fourth option. In noting that, though, one could recognize that fewer tokens migrated off the network results in minimal demand and a potential upward trend in pricing. Regardless of the particular option chosen, readers should understand the media presentation by Dawn Protocol and their emphasis on listening to their community.

Magic21

I am a computer engineer more interested on blockchain technology and bitcoin.

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