We are pleased to announce that on July 15th, 2022, EMDX will launch its Governance System, allowing our community to participate in important decisions for the future.
To become a fully decentralized protocol, it is essential for our community to come into play and to partake in EMDX critical decisions.
That is why, starting next week, we will launch the Governance System, which will initially consist of three elements:
- A Forum where Proposals can be shared by any EMDX member to be discussed, improved and to check the temperature of the community.
- A Snapshot space where the passed proposals will be voted by EMDX token holders.
- aEMDX Tokens, we will distribute Airdrop Testnet Tokens (aEMDX), which will reflect the amount of token rewards received by each user, enabling them to propose and vote on protocol decisions.
As previously stated, we had to reschedule our IDO event, which was set to take place one month after the mainnet’s launch, in order to protect the token value and thus the community wealth (btw, we think the IDO date could be an interesting topic to discuss and vote on by the EMDX community).
In the short term, prior to the IDO, these aEMDX Tokens will be replaced by NFTs running on mainnet; each NFT will be unique and will reflect the user OG Role (Genesis or Early). Note that once the EMDX tokens are unlocked on mainnet, users can keep their NFTs to gain access to exclusive programs and benefits.
To refresh about the airdrop rewards concerns:
- aEMDX tokens will be locked until swap occurs;
- Users will be able to use them only for voting on governance proposals once the Forum and Snapshot is set up;
- EMDX tokens trading activity will be allowed one month (30 days) after the IDO is finished.
The aEMDX tokens distribution is scheduled for one day before the Governance System’s launch on Friday, July 14th, and will be automated; users will be able to check the tokens on their wallets once the team announces its distribution.
Governance and proposals
Full detailed documentation on the Governance Process will be released alongside the launch, but here’s a brief look of what’s to come and why we encourage our community to participate: Everyone will be able to propose ideas from the IDO event day, such as reward distribution, new assets/market listings, naming future EMDX projects, protocol improvements, and so on.
We’re just starting our journey and we can’t wait to shape the future together!
Kind regards from the EMDX Team.
