SpiderDAO Commences Token Distribution, Becomes First Token Listed on Polkastarter
As part of the program, 60% of the total supply of the SPDR token will be released to the community over a period of five years.
Today marks the beginning of the token distribution of SpiderDAO after coming to an end with its strategic private sales of the SPDRs. Over the next three months, 8.33% of its token would be unlocked to the beneficiaries. Also, SpiderDAO has become the first-ever project to have its token SPDR listed on the Polkastarter, a new decentralized exchange. Interestingly, SpiderDAO has an interesting plan for the developing countries especially in locations where SpiderVPN can be greatly patronized due to the high internet access rate by launching bandwidth monetization mechanisms in such areas.
As part of the program, 60% of the total supply of the SPDR token to be released to the community over a period of five years. SPDR holders have a chance of getting free access to the SpiderVPN service by engaging in the Liquidity as Utility concept. They may benefit from the APY as well. SpiderDAO has over the years maintained an envious security standard and ensured that all of its smart contracts are audited by CertiK, an audit company in the blockchain space.
SpiderDAO is well known for its long-lasting solution to the common democratic issue of multiple voting by ensuring that voting is done only once irrespective of the number of tokens held by participants.
“We thought of an innovative hardware DAO concept, and we introduced a dual-governance model, which bundles together hardware and software tools with on-chain elements, providing a “whale-resistant” solution, ” according to the founder and CEO of SpiderDAO, Nathan Varty.
The hardware component of their project makes it possible for voting to be done by only those who actively use their products and are part of the community. Using an Autonomous Decentralized Virtual Private Network (dVPN), online privacy is encouraged contrary to the traditional method that can leave user data exposed to being tracked.
About SpiderDAO amid Its Listing on Polkastarter
SpiderDAO is the first Decentralized Autonomous Organization that “ bundles multi-layered hardware and software tools on top of the Polkadot Network”. Its main vision is to ensure that users are largely secured through Decentralized Autonomous Organization. Not just that, they also ensure that the network is effectively secured with ad-blocking as well as Spider dVPN. This is done by integrating a multi-layer privacy solution and coming out with an open-source decentralized VPN to fulfill this mission. SpiderDAO ensures that all network traffic is protected by encrypting user data through dVPN.
It is worth noting that the team worked with SpiderConnect Hardware Router and in less than three years expanded the business to get around 6400 users across more than 18 countries.
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
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