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
Hudson Walker
I called FLO at 400 and sold at 2500. I was fudded, harassed, and abused the entire way up.
I reckon DGD will be more of the same. The board is full of skunks who have nothing to do other than berate and belittle others, while lacking any sort of brainpower or basic analytical skills.
It will be a joyous day when again, I am right, double my money, and come back to laugh at all of the cunts here who try and fud to scare others off of such a wonderful opportunity.
look at the usernames. he is quoted as saying he didn't like the idea, but if voted and approved, it would be enacted. the Digix team has abstained from voting on all 12 prior proposals.
After being quoted as that; the founder then wrote the proposal for the community, about 8 days later:
It's happening folks, the vote will come, and when it passes, you guys will be scrambling to buy on that green dildo upwards to lock in your guaranteed 4, 5 or 10% gains. While I smugly grin and laugh at my 100% gain :)
Christopher Murphy
the proposal has now been moved to the OFFICIAL DGD page by a Digix team member:
after a few days of discussion, it will be moved to the next phase and is slowly making it's way to the vote stage.
Alexander Watson
You don't seem to understand...for the proposal to pass, if the team is against it, at least 70% of the remaining DGD must vote for it. This means almost no one can vote against it, AND you need phenomenal "voter turnout." A lot of people with DGD don't even know about the proposal. And on top of that, even if it passed, the team could veto it. It's not even in the voting stages yet, no one is about to FOMO in. If anything, it's dumping.
Lucas James
imagine the mental gymnastics required by these trolls to try and discredit the solid proof and fact that I have accumulated and so nicely presented to the community here.
Wyatt Baker
Only 740,000 Dgd are locked in the voting mechanism. In the last vote only 250,000 DGD participated. You don't require all of the DGD in supply to vote, you simply need the majority (70%) of what actually votes (250k). It would be very easy for a large Eth whale, large hedge fund, or hundreds of people like me and you, to super majority the vote. Not to mention below:
There are no incentives to vote no. Literally none.
It doesn't make any logical sense for anyone to vote no:
You have a $1 bill (a DGD). If you vote yes, you now have the ability to trade your $1 for a $2 bill, BUT if you don't want to, there is nothing forcing you to. Someone else may offer you $3 or $5 in the future, but by voting yes, you always get the ability to trade it for $2.
This is the proposal: because the current price is .09 eth per DGD but the proposal would pay out .18 eth per DGD.
Honestly makes no logical sense that the price hasn't shot right up to the .18 area yet, but it's because there is a major lack of information in crypto. Most people have not heard yet of the news, and many more on Jow Forums are pajeet poor ranjesh scums who think every single post is a scam and have very small brainpower to check.
So for every DGD burned, if a burn fee is in place, each DGD remaining will be backed by an increasing amount of Ether:DGD ratio
So those who don't want to burn should still vote yes. It's simply an added safety feature that allows them to exit the DAO at any time if they opt to do so.
The team (in the gyazo above) said that if approved, it will be supported by them.
Kevin Miller
The team can vote no, dude. That's what I'm saying. If only 250k participated, the team can easily just vote no with the DGD they have and the proposal dies.
Easton Hill
The team abstains from voting... all 12 proposals have been abstained by them. As quoted in the gyazo, if the community votes yes, the team will support it. That is the creator and head of DigixDao.
Henry Gonzalez
> the Digix team has abstained from voting on all 12 prior proposals.
Robert Cruz
This will never happen, I'm not sure why you're too retarded to realise this. Good luck holding your DGD faggot
Caleb Ortiz
oh it sure will. People vote with their wallets.
holders of DGD tokens (valued at $20) are not going to simply vote no to the opportunity, but not obligation, to sell them at ($40)
