Jan 20, 2020 ⋅ 2 min read
After integrating a dissolution mechanism last month, DGD holders have voted to liquidate DigixDAO’s ETH treasury which currently holds almost 386,159 ETH worth $64 million. The DAO will cease to exist, however, Digix Global and the DGX gold-backed token will still operate.
DigixDAO raised around $6 million in 2016 to build a self-sustaining network for the tokenization of physical goods. Token holders could vote on proposals for spending the treasury funds which were intended to help build the ecosystem. However, as the price of ETH increased, the treasury funds quickly surpassed the value of DGD. Rather than have a war-chest for spending, DGD holders opted to receive their pro-rata share of ETH signaling their negative views for the future prospects of the DAO.
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