SafeDAO voting on what to do with 32 million unclaimed airdrop tokens

SafeDAO community members are currently voting on what's to be done with over 32 million of its SAFE governance tokens that were not claimed during the project’s airdrop last year.

SafeDAO allocated 5% of its 1 billion SAFE token supply for the airdrop. This meant that eligible users had 50 million tokens to collect between September and December 2022. The claims period, however, ended with only a fraction of these tokens claimed, leaving 32.2 million — almost two-thirds of the total sum — unclaimed by eligible accounts.

The low turnout of claimants has reportedly caused the distribution of voting power within the DAO to be imbalanced. This has led the DAO to vote on what to do with these unclaimed tokens, in order to restore balance among stakeholders.

SafeDAO members have two broad choices. The first option is to redistribute the unclaimed tokens to users who participated in the first airdrop. These tokens will be locked for four years but the effective starting date of the vesting period will be backdated to September last year. The second option is to create a new window for eligible users who did not participate in the first airdrop to be able to redeem their tokens.

These two broad choices have been used to create five voting options. These options include each of the choices alone plus options that combine elements of both. SafeDAO members can also choose to abstain from the vote.

Voting on the matter will end on March 29. The first option to distribute the unredeemed tokens to users who previously claimed their airdrop is the most popular choice, based on the voting pattern thus far. This option currently commands 51.8% percent of all votes cast in the polls.

The token can only be used for voting and can't be used for trading, so it has no value as of yet.