Crowdsale Update: What happened in the past 24 hours?

We did an announcement of a crowdsale, and at the same time saw the spike in Ether prices. It could just be coincidence, or something else altogether, but we do hope it has to do with our crowdsale announcement.

Early on, we know that when we put ourselves out there in the public to raise funds for DigixDAO, we will face criticisms and feedback.

What we wanted to achieve is simply this: improving transparency and governance in a for-profit DAO, where employees work for the DAO token holders.

However, what we failed to achieve this time was structuring our crowdsale properly. The terms of the sale, in short, was disagreeable to many of our our supporters.

We received plenty of well meaning feedback, and above it all, listened to the community to improve on our offering.

We know we cannot please everyone, that there will always be contentious points, nevertheless, we went back to the drawing board and in the past 24 hours, worked around the clock to push out updated details based on feedback received.

We want all to know that here at Digix, we will always be the first to listen and admit to any mistakes on our part, and will then take active steps quickly to resolve them. Our very first crowdsale proposal and update is only a starting step to how DigixDAO proposals in future should function; where Digix submits a project proposal, take feedback from our token holders, act appropriately to continue forward in reaching majority consensus.

Here are some of the major changes and new iteration from the feedback that we have received:

  • Removing volume based multipliers in place of time based multipliers just like Augur
  • Releasing all DGD tokens at the crowdsale instead of locking them up for future crowdsale rounds. Future crowdsales will be voted for / against by current token holders.

Please revisit the updated Crowdsale information site (https://sale.digix.io) for more details. Thank you.