DigixDAO (DGD) Jumps 17% After ‘Project Ragnarok’ Gets Approval

DigixDAO holders have voted in favor of the dissolution. Although Digix itself is “against the dissolution,” with over 96% votes, DigixDAO holders have agreed to propose a dissolution mechanism according to which DGD holders will be given the option to dissolve their tokens at the start of each quarter.

With this, DGD token holders are allowed to dissociate themselves from its ecosystem in “the fairest manner possible.” For this, a preset 40% quorum ad 50% quota has been initialized.

As per this Project Ragnarok, after unlocking their DGD from DigixDAO, the token holders will be able to claim a prorated portion of remaining ETH, depending on the amount of DGD they hold, if the dissolution vote passes. In case it fails, DigixDAO will continue the same in the next quarter. According to DigixDAO,

“There will no longer be any transaction fees that will be rewarded to DGD holders in the governance platform as it will cease to exist.”

The approval also means the projects that have currently funded or unfunded milestone on the platform will cease to be funded.

Founded in 2014, DigixDAO builds a decentralized autonomous organization that tokenizes physical assets. With the first ever crowdsale in March 2016, DGD was hosted on the Ethereum network.

To date, DigixDAO holds about 386,000 ETH, currently worth $64,462,000, to continue funding projects build on the DGX ecosystem. DigixDAO on Twitter,

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Author: AnTy

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