Web 3 Data Union Swash aims to launch its eponymous Data Alliance and increase uptake of the native $SWASH token. This month’s campaign will begin. DAO Ignition will kick off February 15th, giving users the opportunity to make a difference in how the platform’s data ownership evolves.
That’s not the only incentive, though: there will also be a grand prize up for grabs, with Swash adding $20 to the growing prize pool for every person that participates, until it reaches a maximum cap of $300K. Swash will donate $100K to any charity should that amount be exceeded as part its Data for Good program.
No matter how much is in the final prize pot at the end of the campaign, a single winner will take the whole lot. However, all the participants will still be DAO early birds members. As such, they will have the ability to impact Swash’s future trajectory.
Are you ready for liftoff?
Swash confidently refers to DAO Ignition as “the biggest DAO campaign of 2022” – a bold claim given the number of both established and fledgling decentralized autonomous organizations in the space. Then again, it’s the sort of confidence that stems from having expanded the Data Union base from 5,000 to 220,000 over the course of 2021.
DAO Ignition is a way to burn around 10% of what the community holds monthly. The campaign lasts for a year and ends when Swash removes a maximum amount of $5,000,000 from circulation. Users can keep their tokens in order to maintain a high monthly average, but they must press Swash for more tokens to be burned during the campaign.
DAO Ignition’s culmination will mark the launch of Swash DAO. This DAO gives stakeholder the opportunity to collectively transform a data sector that is too often dominated by the same big data companies: Google, Facebook, and Amazon.
Swash will establish eligibility criteria to allow users to take part in the campaign.
Register now to be eligible to win the prize. A minimum of $5,000 $SWASH must remain in your possession for at least 60 consecutive days during the campaign period (February 15, 20,22, through February 15, 223). They don’t have to be consecutive, however, they must total at least 60 cumulative days while the campaign continues.
New Heights
Swash’s native asset, which has been tokenized on Ethereum as well as xDai and Polygon, is the lifeblood of a platform that remunerates members for their participation in a fair, transparent data economy. Access to higher-quality and compliant data is also available to businesses.
The startup was built using open-source technology and has grown from a browser plug-in into a data hub that is guided by Web 3 principles. With its aggressive burn mechanics and six-figure prize pool, the project’s upcoming DAO campaign is certain to make headlines over the next 12 months. Because blockchain ventures can control the quantity of tokens being burned, they are able to keep full control over how much is removed from circulation. Swash, in this instance, is releasing it to the community. The more tokens that are hoarded, the greater the chance of the stock being withdrawn from circulation. It’s a fascinating proposition and one that should set Swash up nicely for its full DAO launch early next year.