The process is simple. Users stake MX tokens to vote for the listing of a new Kickstarter project. If the voting targets are met (typically set at a 500% participation rate), then the project is listed. If not, the voting tokens that were locked are returned to the owners.
This approach is commonly used for exchange listing and making other project, platform, and exchange decisions across many users and participants within an ecosystem. It is a fair and effective way to vote and reach consensus on projects, initiatives, or decisions that public platforms wish to undertake.
As the world’s first hardware-enabled DAO, SpiderDAO brings dual-governance and combines hardware and software tools with on-chain elements to create a whale-resistant DAO governance solution – a vast improvement over current solutions that can be manipulated by whale activity or the unilateral movement of tokens by large holders. Entering the Kickstarter campaign can help the project gain exposure to a wider user market and bring the SpiderDAO token to MEXC users across the globe.
At the commencement of the Kickstarter event, users had the opportunity to vote and win free project airdrops by staking their tokens for voting for the listing of SpiderDAO on the MEXC exchange. Voting was held on December 8 between 03:00 UTC and 11:50 UTC. Assessment details of the SpiderDAO Kickstarter event and other project listings can be found here.
At the time of this writing, the SPDR token reward pool held 3,890,000 tokens, with over 18 million MX tokens staked for voting. A target voting participation rate of 500% is required for listing, and this target was achieved. Participants will be excited to learn that SpiderDAO’s Kickstarter campaign generated a reward-to-voting token rate of over 120,000%, even though a voting cap of 500,000 MX was put into place.
Airdrop rewards will now be distributed proportionally based on each user’s total votes, and there is a special bonus for 500 users with assets exceeding 1,000 USDT who will be randomly selected to receive a 10 USDT Futures Bonus. This bonus will be airdropped to the winners within 7 working days as long as they have an active Futures Account to receive the reward.
Details regarding SpiderDAO’s listing on MEXC will be communicated once all administrative, security, and review steps for the Kickstarter are completed, so stay tuned for updates on the team’s official channels, the team announced yesterday.
The SpiderDAO team uses the Polkadot consensus mechanism to build new for Decentralized Autonomous Organisations (DAOs). These standards are scalable, interoperable, stable and address issues of unfair distribution of voting power in DAOs.
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Source: Cryptocurrency - investing.com
