We are excited to announce the DAO has opened up account registrations for “The Soft Drop” - a SOFT token airdrop as part of our Soft DAO community initiative. As a Core Team service provider, Tokensoft will distribute SOFT tokens via airdrop to users that meet The Soft DAO’s compliance criteria, meant to reward loyal supporters and active community members. The airdrop will be divided into two separate phases.
Phase 1 will be for community members who participated in our incentivized testnet, “The Softernet” which saw over 14,000 registered users.
In Phase 2 qualifying accounts who participated in events BEFORE OCTOBER 1st on the Tokensoft platform will be dropped additional SOFT tokens. If you’ve participated in a launch on the Tokensoft platform in the past you may be eligible for this airdrop!
Qualified users from both Phases 1 & 2 will also receive an allocation/spot in the queue for the official SOFT DAO token launch at a later date.
To fully qualify for The Soft Drop users must register & verify their identity on the Tokensoft Platform by 9pm UTC November 1st, 2022.
Accounts that have registered after this date, as well as deleted or disabled accounts will not be eligible for the airdrop. Users who do not submit the required items for verification by this date will also not be eligible to receive The Soft Drop.
Unclaimed tokens that comprise the remainder of the allocated airdrop will be returned to the DAO’s Treasury/Multisig.
The Soft DAO token ($SOFT) will serve as a governance token that allows community members to vote, participate, and influence the future direction of Soft DAO smart contracts, products, and services.
As part of the Soft DAO’s mission to be community-led and fairness focused, the DAO is committed to creating a fair and equitable network that rewards its members for their active participation in the ecosystem.
Uses of the SOFT token may include but are not limited to:
- Governance: voting rights within SoftDAO are correlated with SOFT token ownership. However, it is likely that SoftDAO will implement a version of Tokensoft’s Genesis Governance. This primitive will apply a multiplier to the governing power of original token holders who do not trade their governance stakes.
- Funding: in pursuit of its mission, SoftDAO may choose to fund Core Teams build and operate crypto tools. In funding such teams, SoftDAO may disburse some of its treasury — which includes the SOFT token.
- Incentive Alignment: building upon the three previous points, the existence of a token with all of the above powers means that incentives are aligned across the community to govern SoftDAO.
Soft Drop participant’s airdropped SOFT tokens will be subject to a 1 month lockup period, followed by a two year continuous vesting schedule. Tokens in the vesting contract will still provide beneficiaries with voting power during the lockup and vesting periods.
SoftDAO Treasury: use of Treasury funds is subject to SoftDAO governance and may include grants, partnerships, advisors, service providers, bounties, referrals, and funding. Tokens in the SoftDAO Treasury are not subject to vesting or lockups.
Of the allocated 2% of total SOFT token supply, 70% of that allocation will be airdropped to Softernet participants, with the remaining 30% going to Tokensoft legacy sale participants.
NOTE: The Above emissions model is just that - a model. Actual emissions will vary — perhaps materially — since they are subject to the Soft DAO’s governance, price of bitcoin, individual vesting schedules, and service provider discretion (depending on the allocation category).
- Max Allocations: round allocations are maximum allocations, actual tokens sold in each round may be less than the allocated amounts.
- Unsold or Unclaimed tokens: unsold or unclaimed tokens in any round may be made available in subsequent rounds or returned to the Treasury.
- SoftDrop: subject to governance, these tokens will be made available to legacy Tokensoft community members and incentivized testnet participants.
Once The Soft Drop has been completed and tokens are distributed the DAO can begin transferring voting and governance processes over a new DAO Governor smart contract visible on Tally and Snapshot.
To participate in Soft DAO community governance processes users the DAO recommends users register an account on The SoftDAO Discourse Governance Forum at https://forum.thesoftdao.com
We look forward to continuing collaboration with the broader community, our core team, and our partners in building The Soft DAO! We welcome any and all feedback though our governance forum on Discourse (link below).
A vote will be conducted via the DAO multisig on October 26, 2022 at 9pm UTC to affirm the above should no changes be ratified.
Register and verify your account here
Sign up to participate in our governance forum here