How do the tokens fit into the CoW vision?🌊
The CoW Protocol mission is to make markets both more efficient and fair by building the ultimate batch auction settlement layer. As we are offering users best prices, we are aiming to become the foundational liquidity hub for trading digital assets.
Master CoW’s dream has always been to give back to the community that made this project special, this is why the vCOW token is conceptualized as a governance token. CoW Protocol now becomes a cowmunity owned project via the CowDAO. The token & CowDAO aim to ensure that the protocol isn’t captured by rent seekers, and that it stays neutral to the core players of the system, the traders.
What is the purpose of the vCOW token?
CowDAO believes in creating a global trading ecosystem of the people, by the people, for the people, that shall not perish under any threats. The crypto dream has never been about creating an instrument that can easily be put in a box, but about creating global assets that can govern and manage these new decentralized global networks.
This is why the vCOW token is conceived and launched as a governance token, and it’s non-transferable at first. That’s right, when you claim the airdrop, you will receive a token that cannot be transferred out of your wallet.
This is not an error, but an intended practice, as airdropping a governance token at first is essential for the ecosystem to build the right forces to form around it. Once the token is in your wallet, the vCOW token will entitle its holders with voting rights in the CowDAO. It is up to CowDAO members to vote on whether the token should be made transferable or not.
