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Quipuswap Just Airdropped Their Governance Tokens To Quipuswap Users

And there it is, out of nowhere the Tezos-based Decentralized exchange Quipuswap has announced an upcoming Decentralized Governance infrastructure and everyone that has used Quipuswap has received QUIPU tokens as an airdrop.

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The Quipu Token

And there it is, out of nowhere the Tezos-based Decentralized exchange Quipuswap has announced an upcoming Decentralized Governance infrastructure and everyone that has used Quipuswap has received QUIPU tokens as an airdrop. 

“QUIPU tokens will eventually be used in QuipuSwap governance and as a means of payment for future additional QuipuSwap services. “

The tokens have already been sent to all the addresses that are eligible for the airdrop. So if you’ve interacted with Quipuswap, check your wallet.

The first stage of the community incentive program commenced in the form of an airdrop on August 26, 2021. 3% of the total token supply (300,000 QUIPU) was distributed among the QuipuSwap participants.

Each account that ever interacted with QuipuSwap received a guaranteed reward of 5 QUIPU tokens. The remaining reward pool was split between liquidity providers and traders according to their all-time activity on the platform.

You can read more about the token distribution rules on the official blog.

The airdrop is the first step in launching the Governance section on QuipuSwap. More tokens will be distributed via farming and other activities in the future.

Decentralization

Quipuswap is constructed of a set of smart contracts that have been deployed on the Tezos blockchain. These smart contracts can be updated and parameters (Think of the height of transaction fees etc.) can be changed. This can currently be done by the developers of the exchange.

To make the exchange fully decentralized and trustless, the smart contracts will be changed in such a way that the admin key will be removed and no single entity can make changes to the smart contracts or parameters.

Changes will only be possible after holders of the governance tokens have voted and a majority agrees with the proposed changes.

A fair token distribution is the first step to decentralization. This airdrop is the start of this distribution.

Read more details here. https://story.madfish.solutions/quipuswap-governance-token-airdrop-announcement

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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