DigixDAO — Governance / Reward claiming Process

Digix Writer
Apr 23, 2016 · 2 min read

Proposal Badge Holders and DGD token holders:

Badge holders are allowed to submit Project Proposals for Vetting by other badge holders. Vetting is done similar to how our crowdsale was ran: Send your badges to a specific proxy address to show your Approval / Rejection of the project. A minimum number of badges (quorum) will need to be met in order for the project proposal to be valid. Badges that are sent will be locked up for the duration of the Vetting process before they are returned.

Approved and vetted Project Proposals go to all DGD token holders for pledging. DGD token holders would then send their DGD tokens to a specific proxy addresses to show their Approval / Rejection of the project.

A minimum number of DGD tokens will need to be met in order for the project proposal to be valid. DGD tokens that are sent will be locked up for the duration of the approval / rejection process to prevent double spending, before being returned to the sender.

Reward Claiming:

Reward claiming occurs in a similar fashion. There will be a window period where token holders can submit their claims for rewards to DigixDAO every quarter only after proposal vetting and pledging. Users will send their DGD token balance using a proxy address to identify their sending wallet 1:1 akin to our crowdfund. DGD tokens that are sent will be locked up for the duration of the claiming window to prevent double claims, before being returned together with the rewards from DigixDAO. Once the claim window closes, all DGX that is collected by DigixDAO will be distributed to those who submitted the claim. Hence, if a DGD token holder does not participate in the claiming window, the portion unclaimed will be apportioned to those who did. The process may still be subjected to change as we get closer to implementation.

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