May 6, 2021
Announcing SweeperDAO 🧹
SweeperDAO is a community led DAO with one simple mission: to rerug rug pulls and garbage collect shitcoins 💩👉🔥. Let’s face it, we’ve all entered into one shitcoin or another and been left holding the bag when the devs pull out all the liquidity. Not only does this hurt participants, it deters many people from getting involved in crypto at all. Together, Sweepers who choose to accept their mission, help protect these users and make the space better for everyone and see less of the following:
We’re joining the war on rugs ⚔️
☘️ How Does it Work?
Sweepers have the great privilege of choosing which shitcoins to burn in return for $SWEEP tokens, a key part of the rerugging ceremony. Whenever a new shitcoin is chosen, a constant is set that determines how much $SWEEP to mint in return for the burned 🔥 shitcoin.
Since $SWEEP is continually minted it’s important to have a burning mechanism to avoid an infinitely growing supply. $SWEEP implements this burning mechanism based on the usage of the token. The token will charge a 20% fee to transfer, this fee will decrease linearly as the token is not used and at a certain point will flip to a bonus of a max of 10%. In simpler terms this means if no one is using the token, you get paid to use the token and if a lot of people are using the token you get charged. From max fee to max bonus takes around 10–11 hours of no other transactions.
At genesis the max burn will be set to 20% with the max mint being set to 10%.
💥 Why Now?
We were once settlers in a pristine new land, but after years of work and growth, the number of shitcoins is too damn high. Let’s restore order to the crypto community and sweep this era of scams under the rug.
We are sweepers! (also like the main solidity dev took on the moniker “The Dude” so he sneaks in Big Lebowski quotes everywhere)
🪙 Token
Ticker: $SWEEP
Name: SweeperDAO
Decimels: 18
$SWEEP is the native token of SweeperDAO, it coordinates the activity of the DAO and over 50% will be distributed through an airdrop.
There will be 100,000,000 sweepers at genesis
The distribution of the initial supply will be:
- 51% will be airdropped to communities that have been rug pulled, existing communities and various contests held on twitter and Discord. Follow SweeperDAO on Twitter and join our discord to keep track of these announcements.
- 39% will be sent to the community pool. These funds can be used by the community to fund what is needed to make SweeperDAO successful. The development and community reach out will be handled by the core team.
- 10% will be given to early contributors and core founding team to continue development of the DAO.
🗳️ Voting
The parameters of the system and which tokens to burn is voted on by the community. For voting purposes we will be using snapshot.org. Snapshot is a tool that takes a snapshot at a height of the token holders. Snapshot will be used only for v1, when v2 launches we will have our own voting mechanism for our community to use.
✨ Roadmap
Q2 2021
- Launch v1.
v1 Features include: Shitcoin burning and mint new $SWEEP in return, Burning mechanism outlined in “How Does it Work?”
- 🛩️ 51% Community Airdrop
- 🖥️ DAO Frontend
- 🧹 Mint $SWEEP to recover 3+ rug pulls.
- 🏦 Begin Treasury Funding
Q3-Q4 2021
- Launch v2.
v2 Features include: Staking of $SWEEP, On-chain Voting, Static Rewards
- 🌉 Binance Smart Chain 👉 Ethereum bridge
- 🧹 Mint $SWEEP to recover at 3+ rug pulls.
2022
- 💫 Continue our mission on making crypto safe
- ✨ New features will be voted on by the community
