Sweat Economy Blog

Burn vote summary

By Sweat TeamDecember 14, 2022

Thank you to all the users who voted in our very first community governance initiative.

Below is all the information you need about: the results, the burn, the on-chain transactions, data, and prize draw mechanics for the winning wallet addresses.

We are really excited to have completed this first step towards decentralization. It’s just the beginning. We will continue to bring more frequent votes on a wide range of topics, so that our token holders can help to determine the direction of Sweat Economy.

Vote recap

Briefly, we bought $1M of $SWEAT on the open market, and let the community vote on whether to burn it, or not. To learn more about the vote, check out our previous blog post.

Results

At voting close, the balances were:

yes.sweat: 139,463.95 $SWEAT

no.sweat: 18,018.93 $SWEAT

Total: 157,482.88 $SWEAT

10% of the total is 15,748.9. This has been split between 10 winners, who received 1,574.83 $SWEAT each. This was transferred out of yes.sweat (see all transactions below).

The next 90% was sent, as follows, to community.sweat to be burned.

Total $SWEAT transferred from yes.sweat to community.sweat: 123,715.66.

See transaction: https://nearblocks.io/txns/8smRexJrbG8Ft1g6xhcDB6Z4BjmNgtcpUmhXiZJuAusy

Total $SWEAT transferred from no.sweat to community.sweat: 18,018.93

See transaction: https://nearblocks.io/txns/99EJsaopUSva8FW5LPA8Sa6LcnUWKc6maCxoFMcChgZj

Burn

In addition to the 90% of the total $SWEAT used for voting (141,734.59 $SWEAT) we, of course, burned the 61,704,529 $SWEAT that was bought with Foundation profits.

$SWEAT from profits : 61,704,529

90% of voting tokens: 141,734.59

= Total: 61,846,263.59 $SWEAT

Actual burn: 61,846,321.92 $SWEAT

Difference of 58.32 $SWEAT is for payments made to yes.sweat and no.sweat after the calculation was made.

See on-chain: https://nearblocks.io/txns/AyXMo7NSqtj9xjnhGqwhxbGdcs1ApKxf6tvxV5eqctZo

10% giveaway

To encourage community participation, we promised to give 10% of tokens used for voting back to to 10 voters. For transparency, we recorded a video of choosing the winning wallet addresses.

Below are the 10 winning wallet addresses.

64c1a24f20c4cb59c399faa14955d88f6de71add30f10a7d5081467995c7ffd9

56e786be4596aff75bd0b7bcc534f9a437b215d0c8d7836211971e86f38332d1

2a493f5461d63deffcc294562bcb3a79b1f764b35d15ca6af67f8f57f034153b

cfdbfdd82a8f3acd918520e8a296f7e6ad0a5daed8c74ed7a251e11f4fb42ee4

9e6e60575a566d0cd312f58ec1a41041baa5f1e74ba9868b6472d1a233996634

935f150f1d9105cc98f83027a692b8493c7fe08c32f9614b78d935150773e74d

53c6070507243dda7b27b8978c97c1ba790fb93e686d2488f068fe9c97d227e5

d693129206570093199712c1a6e73e160b8f9799aaf5ea2e6f7035cef702c777

2a8c6c9ab00aebeb13829fda08a4cd3e67afe6aa2f1ccf9d34eb935e6d4cc95c

df3758b25dc75dda83cdf12b66c3cb0fa0f95cf575cca1261d0ce3743acc7ea1

And here are the transfers: