Quipuswap Just Airdropped Their Governance Tokens To Quipuswap Users

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

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