May 6 2016: Progress update
There are 3 projects of utmost priority at DigixGlobal
1. Digix Client 2.0
2. DigixDAO Contracts and UI
3. DigixDAO Proposals
- Digix Client 2.0
We are currently hosting a design competition at which will conclude in the next 2 days. This will be used as our Client 2.0’s landing page and integrated to what we have skinned for client 2.0.
Client 2.0 will be the result of improvements based on feedback received by beta users of our platform. We fully understand that without a satisfactory client, the progress of DigixGlobal and DGX adoption will be limited. This is therefore top of our list in terms of priority.
2. DigixDAO — Governance and Txn Fee collection Contracts, UI
The general framework of our DAO is already made public at https://github.com/DigixGlobal/digixdao-contracts/tree/master/contracts.
We will be providing clearer metrics as to what is needed prior to live deployment once we update progress and ETAs on our open sourced repository. This will give the public a good gauge of our current progress. Our CTO has recently moved residence, so we entreat your patience as we push out more detailed updates next week.
We have also made the internal decision to include ALL transaction fees that have been collected thus far from our transaction fee collector contract from the launch of our Beta Client on Jan 15 2016 into DigixDAO.
3. Project Proposals and thoughts moving forward.
Our hope is to relaunch webinars to allow projects a friendly avenue to promote and pitch ideas that could increase value for DigixDAO token holders. As mentioned in our very first Ethereum interview with the Foundation, we always wanted to help grow the community and see peripherals built that could develop the Ethereum ecosystem together. We were clear about this from the start and am happy to say that we are a significant step closer to making this a reality.
We hope projects can leverage our platform and community to share their vision and get the reach they need to succeed. Regardless of whether eventual DGD token holders approve or reject their project proposals, it is our hope that it will still be beneficial in several intangible ways for them, such as bringing them significance and spotlight, and opening their doors to more connections / private investors.
A key thing we also hope is that DGD holders can take the opportunity to listen and curate, and think about how best to fund developments of projects in future that would be beneficial to DGD token holders. All DGD token holders should exercise diligence and prudence prior to approving / rejecting any projects submitted to DigixDAO. We do not want DigixDAO to degrade into a loose Ether Faucet. We welcome active discussions on our slack, medium, reddit, to see how best to come up with the correct framework for ETH distribution. What stage should a project be funded? Are token holders providing a grant? Should it be milestone based or lump sum based? All questions are welcomed. We have provided a general framework that can be downloaded, but improvements can always be made from your feedback.
DigixGlobal will lead by example and advocate transparency with DigixDAO’s ETH. A simple mantra for every proposal should eventually boil down to: Are there clear benefits to DGD token holders if ETH was released to the said project? The more direct that relationship, the better in our humble opinion.
These are the updates we have for now, and we will release a clearer ETA / gauge of our progress next week. Please reach us on Slack if there is anything urgent.