The Escher System
Ubiq's governance token.
Last updated
Ubiq's governance token.
Last updated
Ubiq separates the utility of its network into distinct roles.
While UBQ is used as the value vehicle of the Ubiq network which rewards Proof of Work and funds computational processing, it is not used as criteria for governance.
One may even hold a large percentage of the total supply of UBQ, yet hold no direct influence on proposed changes to the network.
In order to vote in the Ubiq system, one must have a balance of ESCH tokens.
ESCH tokens were distributed to the community through a series of airdrops, which required participants holding a UBQ balance ( in a wallet to which the user controlled the private key ) to interact with a smart contract in order to be allocated ESCH.
