Introducing Gas DAO

Have you spent more than $1559 on gas? Go claim your ΞGAS tokens here.

What Is Gas DAO?

Gas DAO’s purpose is simple: to be the heartbeat and voice of the Ethereum network’s active users through on and off-chain governance, launched as a decentralized autonomous organization with a free and fair initial distribution 100x bigger than the original DAO. The eligible wallets form a broad union between the most active users in Defi, DApps and NFTs, giving Gas DAO the potential to be one of the most diverse and impactful communities in the history of Web3 — The Potential is Limitless.

ΞGAS Distribution and Tokenomics

ΞGAS is the ERC-20 governance token for the GAS DAO. Holders with 1B ΞGAS will be able to submit proposals, described in more detail in an upcoming post on governance, delegation, and the role of off-chain snapshots. Holders with at least 1.78M ΞGAS, the minimum claimable amount, will gain access to the @gas-holder role in the Discord.

ΞGAS Token Distribution.
ΞGAS Token Distribution.
  • 55% airdropped to 634,429 eligible wallets according to the following formula rewarding network usage based on a snapshot ending at block 13880000 (December 26th, 2021):
    • Minimum of $1559 USD spent on transaction fees
    • Allocation is proportional to .1 * min(eth, 7.6) + .8 * min(usd, 105000) + .1 * min(tx count, 745)
  • 30% Reserved for the DAO Treasury available immediately
  • 15% Reserved for 4 core contributors and other smaller contributors with the following vesting schedule:
    • 80% Vesting linearly in a Timelock Contract over 6 months
    • 20% available immediately

You have until May 1st 2022 to claim your ΞGAS Tokens. Any unclaimed tokens will be swept into the Gas DAO Treasury.

Gas DAO Next Steps

In the coming days Gas DAO will publish another post outlining the governance structure for Gas DAO. In the meantime, go claim your allocation by visiting our claim website, get involved by joining the Discord, and support us on social media by engaging with the Twitter.

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