In Brief:
- FreeRoss DAO had airdropped FREE tokens for the contributors.
- These tokens were distributed amongst contributors on the basis of their initial donations.
- The tokens represent a fractional part of the Genesis Collection NFT, and will be used to govern the DAO’s treasury .
This morning, contributors to FreeRoss decentralized autonomous organizations (DAO) were airdropped FREE tokens. Meanwhile, the DAO is still trying to figure out how to use its treasury to progress on its two-fold cause of ‘prison reform’ and ‘Free Ross Ulbricht’ (founder of darknet marketplace SilkRoad who is now imprisoned).
These tokens were distributed amongst contributors depending on what their initial donations to the DAO were.
Token holders can now use their power to control the FreeRoss DAO treasury, which consists of 1,390 ether worth over $5.5 million.
It is worth mentioning that FREE tokens themselves hold no monetary value but represent a fractional part of the Genesis Collection NFT.
The DAO has listed out its goals as freeing Ross, advancing prison reform, and sharing Ross’s work with the world, and giving everyone a unique opportunity to own a piece of it.
The collective raised over $12.5 million and successfully bid over $6.2 million in Ulbricht’s non-fungible token (NFT) collection auction earlier this month. After it won the auction, it was decided that the proceeds will go directly to the Free Ross campaign that helps prisoners meet their families.
