Sweat Economy, a pioneering move-to-earn project, has initiated a new governance vote through its Sweat Wallet application to address the fate of 2.5 billion idle SWEAT tokens held in inactive user accounts. These idle tokens represent approximately 13% of the total supply of SWEAT tokens. The tokens had been locked up in a 24-month contract within the inactive user accounts, but it remained unclear what should happen to them once the lock-up period expired.
User Consensus to Shape the Future of 2 Billion Inactive SWEAT Tokens
The newly launched governance vote aims to provide SWEAT token holders with the opportunity to decide the course of action for these idle tokens. The community will deliberate on whether the 2 billion idle SWEAT tokens should be recovered and transferred back to the Sweat Treasury for potential future distribution or other uses, as determined through future votes. Alternatively, the tokens could be left in the inactive user accounts. Following the Token Generation Event (TGE) that occurred in September, a significant number of Sweat Economy users failed to activate their Sweat Wallet application to claim their tokens, resulting in these tokens being left unclaimed. For the proposal to be accepted or denied, a minimum of 75,000 votes must be cast. The voting process commences today and will run for a period of seven days, allowing ample time for all participants to contribute. In the event of a substantial influx of voters, there is a possibility of extending the voting period.
In a pioneering move, Sweat Economy has initiated a governance vote to determine the future of 2 billion idle SWEAT tokens held in inactive user accounts. The previous voting process witnessed the participation of 153,783 individuals, leading Sweat Economy to anticipate even greater engagement due to the significant number of tokens at stake. SWEAT token holders now have the opportunity to decide whether these tokens should be recovered or left untouched, marking a significant step towards decentralized decision-making.
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