DigixDAO’s Dissolution

This article was first published on Stories by Digix Writer on Medium
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Last week marked a pivotal moment for the Digix ecosystem.

Following the casting of votes by our community of DGD holders, the majority of DGD holders have voted for a dissolution of DigixDAO and to burn the remaining DGD in circulation, returning prorated amounts of ETH to token holders according to their DGD holdings.

While we felt strongly that the full vision of DigixDAO was not able to bear fruit, we are uplifted that the merits of the DAO model, where token holders are able to direct the proceeding course of action for a blockchain organization and be able to exit such an organization if they chose to.

We are committed to the will of the majority token holders to proceed with Project Ragnarok.

On behalf of the wider Digix team, we would like to thank everyone who participated in DigixDAO thus far, from DGD token holders to industry partners. We are grateful for the support we have received from our community and for everyone who has been part of this journey.

Celebrating the key DigixDAO milestones that shaped Digix

DigixDAO was created in March 2016. The launch in 2019 materialised our long-standing vision of democratising access to DGX gold tokens on the blockchain, as well as our commitment to the decentralised governance of the broader Digix ecosystem to allow anyone to effectively seek funding to build projects around DGX on the DigixDAO platform.

Since then, more than 50 projects have been submitted to the DigixDAO platform. Some of the key projects include NeutralG — a $4 million USD project passed on DigixDAO that aims to address liquidity issues with DGX, BullionIX — a platform to create innovative gold-backed non-fungible token (NFT) where users can mint an NFT with their DGX, and SeSocio.com — a leading crowd investments company aiming to achieve true democratisation of ...

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Stories by Digix Writer on Medium

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