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A proposal to subsidize TradeHub fees for newcomers from Ethereum recently passed Switcheo’s governance process. Under the plan, 3 SWTH will be automatically airdropped to new accounts. The proposal is the first community-driven submission to the Switcheo Development Fund, which launched in late 2020 to incentivize builders on the platform.

Approval for the proposal was unanimous, with 554,195,265 SWTH votes for and zero against.

The creators of the Switcheo Scan service (https://swth.info/) issued the proposal, in which they pledged to develop a tool to automatically airdrop a small amount of SWTH tokens to new accounts depositing from Ethereum. This is intended to cover the 1 SWTH fee on deposits, removing the need for the user to acquire SWTH before entering and interacting with the platform.

A budget of 130k SWTH was allocated in the proposal; 100k for the developer incentive, and 30k to provide initial fuel for the airdropping wallet. The swth.info team aims to deliver its solution by the end of January.

The full proposal may be viewed at the link below:
https://switcheo.org/governance/proposal/25?net=main