We are happy to announce the creation of Wrapped AdaSwap Token ($ASW) on Ethereum blockchain. As you know, AdaSwap has always been completely transparent with its community and has always been concerned about the safety of its users, which is why we have been working on the latest state-of-the-art securities and governance measures.
We added the following smart contracts and backend administration:
- Multi-Signature Smart Contract, using Gnosis Safe (As opposed to single keys funds/decisions/smart contracts can only be executed if multiple signatures are provided).
- OpenZeppelin, as the backend admin manages the proposal and signatures orchestration, which works like a charm.
- Time Lock Smart Contract is the only trustless mechanism governing our Wrapped AdaSwap token contract.
Gnosis Safe — Thanks to the MultiSig wallet, we will be able to make decisions regarding the time lock smart contract. Don’t know what it is? Read below.
Time Lock (Smart Contract) — You can see this as the only trustless “ruler” of AdaSwap Smart Contract! The Time Lock is a self-governed Smart Contract with a 48 hours countdown, a delay for each transaction it should execute. This will allow our community to have a time window to make decisions about the project; if the community does not believe in a specific approved proposal, they will have enough time to make their voices heard.
Decentralization Efforts
In order to execute a major operation on our AdaSwap token contract, there need to be at least 3 signatures out of 6 signature pool — each signature is a wallet address owned by different AdaSwap team members and even an outsider to the company.
For more transparency, here are the proposers of the Gnosis Safe Multi Signature:
AdaSwap Team
Nir Hagshury
0x459FC658B7622FdcF7Da337E45A9a7ab1219D99F
Itay Levy
0x38A9B5fEC8CE116CD7Ad157099FddCA93e579bC4
Lennon Qualmann
0x4C2C3050607eF741eA90E10071d99D65B55c283F
Aaron Tait
0xD0AaFF0dA8c88716552B64DD2a754d050fc40790
AdaSwap Corp.
0xb2f22fDB86270930DE7e7Ce9E0b96bEb3df66950
External proposer — Altcoinomy
0xd92c1c2796fD1EAa5535e5D15e27F837fDa59aad
