SmartPad DAO and the release of the proposal creation tool
We are excited to release our new proposal creation tool together with the first iteration of the DAO system.
The new feature will enable projects and users to submit their proposals to the SmartPad’s quorum. DAO members will vote to determine which new IDOs will launch on SmartPad.
The release of the new feature will also introduce vPAD, the new token utilized in the SmartPad DAO, granting DAO members voting power. By locking aPAD — tokens received from staking, users will receive DAO token vPAD. The longer aPADs are locked — the higher amount of vPADs one will get. Find out more details about the vPAD in our new guide.
Our old-time users will also have access to the one-time bonus scaled based on their participation in the previous staking model. The bonus will credit them additional vPAD when they lock their aPAD. Please note that the veteran bonus may be applied only once, but it is up to users to select when to use it.
Implementation of the proposal tool will create an additional level of decentralization, enabling the SmartPad community to actively participate in the IDO selection process.
We have also prepared a set of new guides to navigate you through creating and voting for the new IDO proposals. Please visit our GitBook page for details.
The release of the proposals is the first iteration of the new DAO functionality. The tier system is the next upcoming addition to SmartPad. Stay tuned for more updates on the new releases, and check the latest proposal page to vote for the new IDOs.