The proposal is now officially made. Check it for yourself on the DigixDao website linked above.
Read the "Short Description" and then the PDF if you want more additional information.
There are around 400,000 Eth ($83million) in the DAO. There are only 2,000,000 DGD ($38million) tokens.
That means there are literally 2x times more funds than marketcap. But... you see DGD token holders don't have a claim to the Eth in the smart contract...?
Actually, with this proposal, they will. Holders of DGD will be able to use the burn proposal. Here a burn function is proposed as an elegant and effective solution to this problem, allowing DGD holders to burn their DGD for ETH in DigixDAO. The ratio received would be the pool ratio (Total ETH in DigixDAO)/(DGD total supply) minus an optional "exit fee" of x% of the ETH to be received. This incentivises DGD holders to preserve the pooled ETH to maximise the pool ratio. In other words, it shifts the Nash equilibrium to a 'no' vote, importantly making the default stance 'no' rather than 'yes'. In this scenario, only quality proposals that are worth sacrificing pool ratio will be voted 'yes', instead of any proposal that has a slight chance of increasing DGX rewards. This change could also incentivise proposals that contribute to the total ETH pool rather than take away, such as future ETH staking, or lending ETH (or other assets), and many more creative ways to not only spend the pooled ETH intelligently but also replenish ETH funds.
Current DGD/ETH ratio in Binance: 0.08934 DGD/ETH ratio for the DigixDAO: 0.1975
Folks this will be the most simple 2x of your life. Be sure to read the document on the official DigixDao website.
Until you post a link to the DigixDAO page where this proposal has been accepted and voted on, it just looks like a scam.
Jonathan Cox
do you have actual autism.
first thing that happens is a discussion is had within the community: this was done on and around july 13-16th if you check the reddit/discord/telegram. proof is here:gyazo.com/750f3e3cd4ecbb3604dd2e9e958c32b4
This is the final step before a proposal is put up and voted on. Everything is moving just as planned, and every step along the way, more smart folks are accumulating.
Absolute brainlet ranjesh pajeets like you are waiting until the final step is accepted and voted on. Go ahead, if you act the instant it approves, you may be able to scoop up a 10-15% gain. Congrats.
I've been following along and documenting every single step along the way. For my considerably small risk and massive research investment (that I'm sharing here for FREE with you) I'm going to make an easy 100%. It's up to you to decide your own risk appetite.
You can honestly fuck right off with your accusations and bullshit. You should be thanking be very generously for what I'm doing to help the Jow Forums community. The people on here are rather dickish, when they should be thankful.
Just buy TRV and wait 6 months you brainlets. Christ, it's like you are all from 2018.
Ryder Powell
So if I buy DGD with ETH, the burn will make the DGD worth twice as much and then can be traded back into ETH?
Andrew Morgan
read the document and the PDF. it's pretty clear, yes. It's akin to a stock buyback and will set the DGD/ETH price floor
Parker Long
faggot where the fuck does it say its actually been approved? All that shit you typed up and still nothing concrete. Stop making these threads, come back and make one once its been voted through
Michael Bennett
I did not say it was approved you fuckface dickwad. read you autistic bitch. everything has been explained and laid out for your baby face. I chewed it up and spit it out on the plate so that you could slurp it up. virgin .
Hasn't been approved and the devs straight up don't want it and can veto proposals, not to mention they hold 40% of the supply. No matter how nice this sounds, it can't happen. They've been dragging their feet for months on this.
Dominic Gutierrez
Would user keep posting this twice a day if it was legit? No, he'd just take his 2x and be happy.
>buy >hype buyback to dump on Jow Forums >bagholders get vetoed
