Project Ragnarok: Digix Integrates Dissolution Mechanism for DigixDAO

Gold-backed stablecoin issuer Digix has integrated a dissolution mechanism into its DigixDAO platform, created to fund projects which encourage the growth of the Digix ecosystem. Each quarter, DGD token holders will vote on the mechanism — called Project Ragnarok — with DigixDAO only continuing into the next quarter if the dissolution vote fails.

After considering a number of options, including a burn contract whereby DGD could be swapped for a proportion of the Ether held in the DigixDAO, Digix decided on a quarterly vote on dissolution. If the dissolution vote passes, all of the remaining ETH in the DigixDAO fund, after other quarterly passed projects have been funded, will be returned to DGD holders.

Timeline of Digixdao, Ethereum