DGD token jumps by 17% as DigixDAO decides to to refund $64 million to ICO investors
|- The community voted for the refund of the money raised during ICO.
- DGD has increased significantly since the decision was first announced.
The community of DigixDAO voted for a refund of 460 000 ETH now worth $64 million raised during ICO in 2016. Following the decision that was supported by over 95% of votes.
DGD token holders will receive 0,193 ETH per each token, which is close to its current exchange rate of $31,4. The official Twiter account of DigixDAO says:
What is the course of action if #DigixDAO Project #Raganarok passes?
1. All $DGD will be unstaked in the start of the proceeding #Digix quarter (end of Day 90 of any current quarter)
2. All $ETH from DigixDAO will be transferred to a DigixDAO Refund Contract
Notably, DGD was used as a governance token for decentralized and autonomous community of DigixDAO. DGD holders received fees and voted on the issues related to the project's funds distribution and development strategy among others.
In 2018, Digix issued a gold-backed token DGX.
DGD beats the market
The news created a strong demand for DGD token, which is currently the best-performing digital asset out of top-100, according to CoinMarketCap's rating. In recent 24 hours, the DGD price gained nearly 16%, while the market capitalization reached $62 million. It is more than doubled from $25 million registered in November 2019, when Digix revealed the plans to liquidate the storage. An average daily trading volume spiked to $3.5 million from $1.1 million the day before and $250,000 in November.
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