Appeared Gas DAO (ΞGAS) – token airdrop project for people who pay a lot of gas fees on Ethereum

The December airdrop/retroactive wave continues with the Gas DAO – the project claims to allocate ΞGAS tokens based on the amount of gas fees used by users on the Ethereum network.

Appeared Gas DAO (ΞGAS) – an airdrop token project for people who pay a lot of gas fees on Ethereum

Launched on the morning of December 29, Gas DAO announced that it has ambitions to become the “voice and pulse” of the Ethereum user community, from DeFi investors, dApp users, GameFi players and even collectors NFT, through the establishment of a self-governing decentralized organization (DAO).

To empower this DAO organization, Gas DAO will conduct an airdrop of its token ΞGAS to Ethereum users who have spent more than 1559 USD to pay gas fees on the network. The number 1559 alludes to EIP-1559, a proposal to establish a base fee for Ethereum transactions and burn it, which was implemented on Ethereum in August.

According to the information provided by the Gas DAO, ΞGAS is an ERC-20 token issued on Ethereum with a total supply of 1 trillion units. In there:

  • 55% of the total supply will be airdropped directly to ETH users;
  • 30% will be kept as a fund for the DAO organization in the future;
  • 15% of tokens are reserved by the project development team (with 20% unlocked immediately, the remaining 80% locked within 6 months).
Gas DAO Token Allocation (ΞGAS)

The main use of ΞGAS will be to participate in the governance of Gas DAO. Holders of 1 billion GAS or more will be able to create proposals for the DAO community, while those who own 1.78 million GAS will be considered a community member and participate in the project’s Discord channel . Gas DAO said it will soon publish details on how to participate in governance in the coming days.

Gas DAO claims to have captured the balance of all Ethereum addresses at block number 13880000, mined on December 26, 2021. Accordingly, there are 634,429 ETH wallet addresses spent from 1559 USD as Ethereum transaction fees.

Eligible users were able to connect their wallet to the Gas DAO website and proceed to receive ΞGAS tokens. At the time of writing, the ΞGAS token has not been listed on any major CEX exchange, but is available on DEXs such as Uniswap and SushiSwap.

This is the next notable airdrop event in recent months, after Ethereum Name Service (ENS), ParaSwap (PSP), DappRadar (RADAR), BitMEX (BMEX), Terra Name Service (TNS) and the latest is OpenDAO (SOS).

Synthetic Coin68

Maybe you are interested:

Maybe you are interested:

Categorized as news

By Nguyen Manh Cuong

Nguyen Manh Cuong is the author and founder of the nguyendiep blog. With over 14 years of experience in Online Marketing, he now runs a number of successful websites, and occasionally shares his experience & knowledge on this blog.

Leave a comment

Your email address will not be published. Required fields are marked *