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/biz/ - Business & Finance

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15026687 No.15026687 [Reply] [Original]

Here is the leaked PDF.

https://www.scribd.com/document/419833744/Dgd-Burn-Considerations

DigixDAO raised about 465,000 ETH in an initial coin offering (ICO) in exchange for DGD tokens. The DGD tokens represent voting power in DigixDAO governance platform. The votes concern the actions to be taken using the raised ETH. Here a burn function is considered for DGD holders to burn their DGD for ETH in DigixDAO. The ratio received would be (Total ETH in DigixDAO)/(DGD total supply) minus an optional “exit fee" of x% of the ETH to be received. Join the DGD Discord, Telegram, Reddit to discuss

All details inside. Very easy opportunity to arbitrage risk free up to 2x your ETH.

https://gyazo.com/750f3e3cd4ecbb3604dd2e9e958c32b4

https://sg.linkedin.com/in/kai-c-chng-540b339

"The exit function will enable investors to trustlessly exit the DAO through a smartcontract, stabilize downward DGD/ETH price movements, remove dependency on exchanges and low liquidity markets, therefore the exit function will significantly decrease risk associated with holding DGD and will attract new investors interested in participating in the DigixDAO governance."

That means there are literally 2x times more funds than marketcap. But... you see DGD token holders don't have a claim to the Eth in the smart contract...?
Actually, they do.
Tomorrow July 25th, the developers of DGD are proposing a buyback of DGD tokens at a rate of .175 Eth ($38) per DGD.
This means that if all 2 million DGD are returned: 350,000 ETH will be paid, leaving 25,000 ETH in the DAO and zero tokens remaining. Effectively setting a floor price for DGD.

Folks, I've personally bought 10,000 DGD tokens. When this is implemented I will have doubled my initial Eth. Any purchase of DGD below the floor price of the buy back .175 Eth per DGD is an automatic profit.
(ps. swap your eth into btc, and buy the DGD/BTC pair. the eth pair has no volume.)

You can buy DGD at $20 with a buyback of $40 price.

>> No.15026833
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15026833

>>15026687
In case anyone needs a quick and simple bitcoin QR code tool for sending and receiving check out:

https://www.bitcoinqrcodemaker.com

>> No.15027062

Looks like it's just a proposal, not something set in stone. What exactly have you posted suggesting the buyback is guaranteed to happen?

>> No.15027096

>>15027062
It doesn't make any logical sense for anyone to vote no:

You have a $1 bill (a DGD). If you vote yes, you now have the ability to trade your $1 for a $2 bill, BUT if you don't want to, there is nothing forcing you to. Someone else may offer you $3 or $5 in the future, but by voting yes, you always get the ability to trade it for $2.

This is the proposal: because the current price is .09 eth per DGD but the proposal would pay out .18 eth per DGD.

Honestly makes no logical sense that the price hasn't shot right up to the .18 area yet, but it's because there is a major lack of information in crypto. Most people have not heard yet of the news, and many more on 4chan are pajeet poor ranjesh scums who think every single post is a scam and have very small brainpower to check.

>> No.15027113
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15027113

>>15027062

Also for every DGD burned, if a burn fee is in place, each DGD remaining will be backed by an increasing amount of Ether:DGD ratio

So those who don't want to burn should still vote yes. It's simply an added safety feature.

>> No.15027134

>>15026687
I sent my money to this address and now it's gone

>> No.15027140

>>15027113
Interesting. I'll do some more research. Might throw a good chunk at this just in case.

>> No.15027158

>>15027134
I'm sorry friend, but you can't fix stupid.

>> No.15027197

>>15027140

Exactly, It's literally a 2x gain if implemented. It's worth punting some money at even though the proposal is not set in stone yet as a pass. Obviously when it is the price will be much higher.

The way to make money trading is to be ahead of the crowd via logic and public/unknown information.

>> No.15027563 [DELETED] 

>>15027197
I'm the little buy wall at .002 on Binance. Not going ham, just in case, but thanks for the tip off. Probably just going to market buy if it hasn't filled in an hour.

>> No.15027716

Join the discussion on the Digix reddit or Discord if you are interested in following along.

>> No.15028869

Interesting if it's true, worth a couple hundo at least. Chart for DGD looks good too. Wonder when the buyback would happen.

>> No.15029195

>>15028869

Exactly. Someone here with a brain. This thing is literally at all time lows, worth an easy punt of a few hundred, or few thousand depending on personal net worth + risk preferences.

Not to mention the buy back would occur at literally 2x of the current price. When the rumors of this start getting wind on r/ethtrader, it will gradually ascend to anywhere from 10-30% below the buy back price until it is for sure set in stone.

We are very early here. I'm feeling giddy as fuck as I just wait for the word to spread and the buy back proposal to slowly gain more steam.

>> No.15029269

>>15029195
The biggest issue I see is centralization occurring as a result of this. Unless I'm reading it wrong...

>> No.15029295

Whales definitely banking on it with that sell wall on binance. Surprised another whale hasn't wiped it out already if this is legit