The Carbon Vote 2 (“CV2”) has concluded earlier today at block number 6268192 at 04:00:00 UTC, or 12:00:00 Singapore time. The results are captured below with a positive vote of confidence in favour of releasing a portion of the DigixDAO funds to facilitate the aggressive ongoing development plans to be spearheaded by Digix over the next couple of years as set out in this proposal here.

High quorum obtained in this round

This series of Carbon Vote gives us great confidence going forward into the live DigixDAO governance platform. A total of 30.96% of all DGD holders participated in this Carbon Vote 2. Comparing this figure, TheDAO had less than 10% in the rounds that they conducted, whereas the Dash protocol, where only Masternodes are eligible for voting, saw approximately 20%. This is a great testament to the active participation and excitement our community has for the DigixDAO development.

Digix, collectively as an organization, has also abstained from voting in this round.

To the 3.33% “No” voters, as well as to the other DGD holders who have chosen to abstain from this exercise, we will endeavour to bring positive and tangible results in the coming months in hopes to win your vote of confidence in the future. Several feedback were heard across the messaging channels and we will take these into consideration in building the live release of the DigixDAO governance platform.

Snapshot of ETHUSD reference price, the “Decision Point” Source: Cryptowat.ch

As mentioned in page 3 of the proposal, we will be taking the snapshot of the reference price as of 4th September 2018 4:00 UTC, the “Decision Point”, from Kraken and Gemini Exchange. We have also recorded a live video of the price feed that we saw on the 2 exchanges.

Price snapshot of video record from Cryptowat.ch:

Kraken: 254.97 ETHUSD

Gemini: 287.81 ETHUSD

Reference Price: 271.39 ETHUSD

Carbon Vote 2 Decision Point screen record of Decision Point

Source: Cryptowat.ch (Kraken Exchange for ETHUSD)

Source: Cryptowat.ch (Gemini Exchange for ETHUSD)

Price snapshot from Cryptowat.ch on Web Browser:

Kraken: 287.10 ETHUSD

Gemini: 286.77 ETHUSD

Reference Price: 286.935 ETHUSD

The average ETHUSD price taken via the video shows 271.39, whereas the average price on the snapshot of the exchanges are 286.935. Acting in good faith, we will take the higher price of the two, which amounts to a total of 69,702.2 ETH disbursed to Digix in this round of Carbon Vote 2.

Clarifying all movement of funds

Since the conclusion of the CV2, the funds have moved from the DigixCrowdSale wallet into the DigixDAOMultiSig wallet. This is the first time that the funds raised from the March 2016 crowd sale has ever been moved and is a historic moment in the timeline of Digix. From the 465,135 Ether raised during the CrowdSale, 69,702 Ether was transferred to a private Digix wallet. The subsequent transfer was done to a trusted third party custodial service that we work with. We are in the final stages of consideration and talks with external vendors on how to best sort out the legal structure and booking of these funds hence, the custodial service is necessary.

The team is deeply appreciative of the positive sentiments provided both via public channels as will as private. The team fully acknowledges that the funds entrusted with us would not have been possible without the strong support and involvement of the Digix ecosystem community members.

What’s next for Digix?

September will be spent engaging in short term action plans of expanding the marketing and business development arm of Digix, obtaining the necessary security audit quotes to launch a fully operational DigixDAO governance and obtaining initial legal conversations on the options on the best way forward for Digix.

We are currently hiring to expand our team in the business development and technical functions. If you have a deep interest in blockchain and our project, and would like to work with us, we have the following job openings (more information available at https://angel.co/digixglobal-1/ and https://e27.co/startup/digixglobal ):

Back-end Developer

Javascript Engineer (front end)

Quality Assurance Engineer

Project Manager / Scrum Master

Mobile Developer (iOS)

Smart Contracts Developer

Head of Marketing and Communications

Social Media Lead

UI/UX Lead and Research

Stay tuned for exciting times ahead and we look forward to your continued support!