First Decentralized ICO Funds Dissolved. Here’s What Vitalik Buterin Says..

News
Fri, 01/24/2020 - 11:39
Vladislav Sopov
The decentralized initial coin offering (DAICO) has failed to become an industry ‘gold standard’ like ICO, IEO or even STO.
Cover image via U.Today
Contents

The project DigixDAO (DGX) has decided to dissolve all funds raised because of the lack of a consensus on the project’s future.

Sorrowful ending

According to the official representatives of DigixDAO (DGX), the project that raised 335 000 ETH (approximately $52M) is finally dissolving. A proposal on its future development just passed in only one entity of its voters. Most likely, this entity was somehow related to the founders.

The holders of DGD (another project token) can now claim their share of the funds collected.

Ethereum (ETH)’s Vitalik Buterin: It’s interesting

Vitalik Buterin of Ethereum Foundation says that this result can be seen as ‘interesting’. Also, he called the DAICO of DigixDAO (DGX) ‘Arguably the first large-scale successful DAICO-style vote-driven funding’.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)


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