DGD buy back at 2x current price.

[Anonymous No.15205122]

Attention all brainlets

Buy DGD

DigixDAO is a Decentralized Autonomous Organization that is controlled by token holders.

They did an ICO in 2016 raising $5,500,000 in funds (466,648 ether).

Currently the DAO has the custody of 394,900 ether from the funds (remember, token holders control this).

https://etherscan.io/address/0x75bA02c5bAF9cc3E9fE01C51Df3cB1437E8690D4

https://etherscan.io/address/0x24626FD95aD815bAB2136d6f91cA10562161CDa3

The access to the funds is through a governance model in which token holders make proposals and vote on them to be implemented.

Currently there is a proposal for implementing a new function/contract that will be burning DGD tokens and spitting out the ethereum that is held by the DAO.

The amount of ETH that someone burning a DGD token will get is 0.197, the current price for DGD is 0.085 ETH. That means is a 2x from here to reach the new floor.

Now the token price can never ever be below 0.197 because now the full supply of DGD is backed by the ethereum in the contract.

Tether is backed and pegged to dollars. DGD is going to be backed by ETH but no pegged so it will only increase in value.

https://community.digix.global/#/proposals/0x295ae203328a91bd9063f4384b270461437910ccdd26ba3ded2cac2890b16ac5