According to official news, OTC protocol Whales Market announced the launch of Whales Market DAO and adjusted token economics. When preparing the first DAO proposal, 10% of the team’s token allocation (equivalent to 950,000 WHALES tokens) currency) will be converted into xWHALES to give core contributors governance rights, allowing the team to actively participate in proposals and decisions for the long-term development of Whales Market.
In addition, Whales Market also stated that future decisions to cancel the pledge of xWHALES will be communicated publicly to ensure that the community is fully informed and involved in important decisions. Since xWHALES will accumulate revenue shares, the future DAO will redistribute rewards for DAO members who actively participate in governance.