To this end, the newly formed Decentralized Autonomous Organization (DAO), Gas DAO, intends to provide users with a “platform to make our collective wishes and needs heard”, as expressed in twitter by Gas DAO, and dropped the newly created GAS token to the most active users on Ethereum. Airdrop is a way of sharing tokens and distributing tokens among users according to a token distribution scheme.
Interestingly, the smart gas release contract DAO quickly became the largest gas swallower on the day of the release, surpassing black gas-swallowing holes such as Uniswap, OpenSea and Teather, and spending $ 1.5 million on gas charges in just three hours.
Bridge communities through DeFi, DApps and NFT
According to Gas DAO, there are over 143 million unique addresses that have made a transaction on the Ethereum network. Gas DAO was created to be “the voice and heartbeat of the most active 643,000 users within those 143 million, to bridge the communities that stretch to DeFi, DApps and NFTs”.
The way Gas DAO states it in its public Notice, The purpose of Gas DAO is to be “the heartbeat and voice of active Ethereum users through chain and off-chain management, launched as a decentralized autonomous organization with free and fair initial distribution 100x greater than the original DAO”.
The GAS token is the ERC-20 management token for Gas DAO. Owners with one billion, out of a total of trillion GAS tokens, will be able to submit proposals to the DAO community.
Only gas swallowers
Owners with at least 1.78 million GAS, the minimum amount that can be claimed, will gain access to the role of gas owner in the DAO gas mismatch channel. The minimum amount that could be claimed was, at the time of publication, the equivalent of $ 1,559 – apparently in honor of the EIP-1559 Ethereum proposal released in August earlier this year. The most prominent aspect of EIP-1559 is the fee recording mechanism.
In the coming days, according to the announcement, Gas DAO will publish another post in which the management structure for Gas DAO will be presented. Potential applicants, those wallets who have spent more than $ 1,559 on Ethereum gas fees, have until May 1, 2022 to request GAS tokens.
It contains a summary of the most important daily stories in the world of cryptocurrencies, DeFi, NFT and more.
Take it edge in the cryptocurrency market
Access multiple crypto insights and contexts in each article as a paid member CryptoSlate Edge.
Join now for $ 19 a month Explore all the benefits