We are excited to announce the launching of MasDAO - a voting platform and a pivotal tool to get consensus and engagement from $MAS and $MCASH holders on important decisions on new functionality, technical implementation and new structural policies. This is important to showcase that Midas Protocol team is taking seriously all constructive opinions of our supporters through Decentralized Empowerment by Voting. Voters not only contribute to our direction moving forward but also earn from active engagement through voting. Each voting campaign will be an opportunity for voters to be rewarded.
Altcoin season has started, many crypto projects are currently aiming to reduce their token circulation in order to increase its demand & value. To strengthen our position in this ever increasingly competitive crypto landscape, $MAS and $MCASH team has built a plan to catch this market trend by reducing the circulation, and indirectly pushing up demand for $MAS and $MCASH. The team has debated intensively and decided to use decentralized factor, giving the decision power to the community with a voting program with details as follows:
Voting Period: 1 month, deadline Monday, 14th September 2020, 00:00:00 (GMT+8)
There is a pool of 500M $MCASH locked (over 50% total supply) being distributed periodically to $MAS holders as a means of goodwill from the beginning of Mcashchain debut, as Mcashchain is a project that does not do any public nor private fundraising. Since December 2018, $MAS holders have been receiving 2% of their $MAS balance in $MCASH every month. This program has been running for 20 months and now the pool balance is 300M $MCASH.
$MAS holders and $MCASH holders will vote for the amount of $MCASH from the above pool to be burned.
- No burn (burn 0%), distribute all 300m MCASH (100%)
- Burn 60m MCASH (20%), distribute 240m MCASH (80%)
- Burn 120m MCASH (40%), distribute 180m MCASH (60%)
- Burn 180m MCASH (60%), distribute 140m MCASH (40%)
- Burn 240m MCASH (80%), distribute 60m MCASH (20%)
- Burn all 300m MCASH (100%), no more distribution (0%)
Voting could be done off-chain - signing by Midas wallet - which costs zero fee.
- $MCASH holders: 1 $MCASH equals to 1 ballot
- $MAS holders: 1 $MAS equals to 2 ballots
- For Midas Pioneers, who have been supporting us since Day 0, will have double voting power, i.e: 1 $MAS voted by Pioneers shall equal to 4 ballots.
- There will be 100,000 $MCASH and 100,000 $MAS to be won and shared among all voters.
- Team members of both projects will not vote. All votes from any Team wallets will be void.
How to Vote:
- Look for MasDAO or McashDAO dapp on Midas Protocol wallet and follow guideline there.
- Again, Voting could be done off-chain - signing by Midas wallet - which costs zero fee.
- Download Midas wallet on either iOS or Android: http://onelink.to/MidasWallet
After voting is completed, we will calculate the average voting value, announce the consensus and implement accordingly forthwith.
Telegram: https://t.me/midasprotocolglobal , https://t.me/MidasPR
Get it for free & experience Convenience at its best: http://onelink.to/midaswallet
Telegram: https://t.me/MCashChain ; https://t.me/MCashChainPR