DigixGlobal to Return 386,250 ETH to DGD Holders

Back in 2016, DigixGlobal raised more than 460,000 ETH (worth $ 5.5 million at the time) thru sale of DGX and DGD tokens
26 November 2019   369

DigixGAO, behind the DigixDAO ICO project, is considering the possibility of returning 386,250 ETH (more than $ 57 million at the current exchange rate) to DGD token holders, The Block reports.

Back in 2016, DigixGlobal raised more than 460,000 ETH (worth $ 5.5 million at the time) in the hope of “transferring gold to the blockchain” using an economic system based on two coins:

  • DGX - a token allegedly secured by gold held by The Safe House, a Singapore-based company;
  • DGD is the management token of the decentralized autonomous organization DigixDAO, responsible for managing funds raised during the ICO.

DigixDAO currently stores 386,250 ETH. At the same time, 335,450 ETH are in offline stores, and 50,800 ETH in online wallets.

DGD's market capitalization is currently $ 24.6 million. Thus, provided that the current price proportions between ETH and DGD are maintained, DigixDAO investors can profit after the liquidation of the project storage.

Earlier, DigixDAO holders supported a proposal involving the burning of DGD tokens in exchange for ETH from the company's storage. However, DigixGlobal opposed this proposal for fear that the US Securities and Exchange Commission (SEC) would consider the coins of the project as securities. The co-founder of the company, Kai Chan, noted that he would prefer such a mechanism to completely eliminate the DigixDAO storage and, consequently, close the project.

Now the founders of Digix plan to submit a proposal to the vote, which will last about one month. According to Chan, the DigixGlobal team owns at least 8% of DGD tokens. If at least 60% of investors vote in favor of liquidating the repository, then the project participants will free up funds for working on other projects.

BTSE to Launch Tokensale On Liquid Bitcoin Sidechain

BTSE offers spot and futures trading, loans and debit cards, and an OTC platform, it also has a joint mining venture with Blockstream
10 December 2019   96

BTSE exchange will hold a token sale on the Blockstream Liquid Bitcoin sidechain. The site intends to raise $ 50 million.

The minimum investment will be $ 150 thousand, The Block reported.

BTSE offers spot and futures trading, loans and debit cards, as well as an OTC platform. The exchange has a joint mining venture with Blockstream.

In 2020, BTSE intends to earn $ 103 million, and by the end of 2021, monthly volumes should reach $ 70 billion.

In the first three months after the token sale, the exchange will redeem tokens. She plans to burn 100 million coins and leave 100 million in the market.

Private token sale started back in October. The completion of the three-round campaign is scheduled for February 2020.