Ethereum
$185.69 -0.49%
ETH · 13w

A DGD To ETH Burn Function

I think you may be interested in this. The DigixDAO token holders are [voting on a proposal for a DGD to ETH burn function](https://community.digix.global/#/proposals/0x295ae203328a91bd9063f4384b270461437910ccdd26ba3ded2cac2890b16ac5) (an exit/rage quit function) allowing DGD holders to burn their DGD for ETH in DigixDAO. The proposal has just passed first round of voting (moderator approval). At the moment the DigixDAO holds 396k Ether ($85M), there are 2M DGD tokens with a total marketcapitalization of $45M, in other words each DGD token ($23) is backed by 0.1975 ETH ($43). Most of the DigixDAO community members support the proposal. If you are interested in the discussion, the reasoning behind the DGD to ETH burn function and its pros and cons, you can join and find it in the [Digix discordapp - proposal-burn channel/chat room](https://discordapp.com/channels/339241917877452833/605949417391915039).
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