$87.14 8.96%
DASH · 6d

Dash Ventures Into New Areas Of Business.

Dash (DASH) has finalized the structure of the new Dash Ventures entity, an investment fund to be  financed directly from block rewards.

The Dash Core Group announced on Thursday night, during the Q4 2018 live stream on YouTube, that they had made “significant progress” towards creating Dash Ventures. Domiciled in the Cayman Islands as a wholly separate, DAO-owned entity, Ventures will make investments in “assets, equity, tech, or any other investment vehicle,” with profits to be redistributed throughout the blockchain network.

Dash Core CEO Ryan Taylor explained that they now had the legal structure in place whereby members of the DASH ecosystem could monetarily benefit from Dash Ventures without having to provide any personal information.

When launched, Dash Ventures will burn DASH as a way to share the profits. “One of the thorniest issues we came across was how to distribute investment gains back to the network,” Taylor said. “Any direct distributions would require all recipients to produce [KYC/AML] documentation, which would be costly, time-consuming and generate immediate tax implications for recipients.

He added: “Our solution was to avoid any distributions altogether. Instead we will direct the Foundation to buy DASH on the open market and destroy it to facilitate value transfer to all DASH holders equally. This will reduce the circulating supply and boost the price of DASH in a manner similar to a stock buyback”. 

What is DASH again?

Created in 2014, Dash – a conflation of Digital Cash – is an open-source, mineable, cryptocurrency and decentralized autonomous organization (DAO), designed as a network for peer-to-peer payments.  It relies on Masternodes to verify and validate the network.

DASH was one of the big winners at the start of the week.  The token, which has hovered just above the $65 mark for the past two weeks, started to rise gradually at the end of Friday; it finished Sunday at $74. The token i...

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