As savvy apes know… this past week we held an on-chain vote to determine the asset composition of the very first Exchange Traded Portfolio.
And the results are in…
88.41% voted ‘Agree’ and 11.59% voted ‘Disagree’.
43.59 million tokens were cast in votes by 417 individual addresses, with 38.54 million WSB selecting ‘agree’ and 5.05 million WSB selecting ‘disagree’. You can view the proposal here.
Tokens and weighting have been approved for an Exchange Traded Portfolio consisting of 20 tokens. You’ll find the confirmed ETP 20 here on the final summary page.
Here’s how we got here:
- We first launched a survey with 50 tokens, with over 8,000 responses, and from that we selected the top 20.
- We then brought the vote to http://gov.wsbdapp.com where users had open discussions about the initial proposal.
- Based on the discussion we posted a revised vote.
- We then posted the pre-onchain vote.
- Finally we put our proposal up for vote on our snapshot page https://snapshot.org/#/wsbdapp.eth. Users were able to vote agree or disagree with tokens they hold or are in one of our farming pools. This was a 72 hour vote starting UTC 03:00 June 6th, ending 03:00 June 9th with a snapshot block number 8,046,000.
This process demonstrates our focus on community interaction. Project tokens were not used to vote in this round, and we have addressed issues with BSC making future votes a breeze.
With our future ETP’s we’re putting together something truly revolutionary — leaving a lot of naysayers and TradFi dinosaurs behind.
Getting a nice yield is great, but sometimes there’s no better feeling than putting the sceptics in their place. And we’re achieving it all with our own ape community, showing everyone how markets should be managed.
You might be wondering if this is the final iteration of our DAO…
We’re interested in Safesnap: Gnosis has truly created some great tools. This will take some time to get right, and integrate and may be some votes away, but there is extended functionality for the DAO particularly further decentralization.
We plan to integrate more features for the DAO and new ways to vote but we’re happy with the initial result.
We’ll announce our next vote shortly, and thanks to the users who participated in the discussion on http://gov.wsbdapp.com. You folks were a huge help, and brought ideas to a whole new level.
And of course, we’ll update the community when the first ETP launches.