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A venture which performed a 2016 preliminary coin providing (ICO) has voted to liquidate its $64 million treasury, returning funds to buyers.
Venture Ragnarok, a measure to return ether to ICO buyers from the Digix venture’s treasury – which was held independently of the corporate in a decentralized autonomous group (DAO), DigixDAO – has handed with over 95 p.c assist. Solely 52 votes had been forged, in keeping with the proposal on the Digix group web site.
With the passage, a contract might be executed, unstaking and giving again 0.19 ETH per DGD – Digix’s token which hyperlinks bodily gold bullion to representations on the ethereum community – close to par with the present worth of DGD, in keeping with Messari.
Digix performed its ICO in 2016, elevating some 466,648 ETH value some $7 million on the time. DigixDAO presently holds 380,000 ETH in keeping with two addresses on ethscanner.
As CoinDesk reported this winter, Digix’s CEO Kai Cheng Chng supplied to dissolve the DAO following group requests. “One recurring remark was for a mechanism for dissatisfied DGD token holders to make a clear break from DigixDAO,” he wrote in a Digix weblog publish. Digix itself doesn’t plan on closing up store given the outcomes of the vote, nevertheless.
Digix abstained from voting on the proposal because it was not in favor of liquidating the fund, in keeping with the weblog publish.
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