DigixDAO User Guide: Setup

Laura Zhang
Mar 21 · 6 min read

Setup

This section describes everything you need to participate in DigixDAO. To properly prepare yourself, some important information to note from this section will be:

  • How to become a Moderator

DigixDAO Timeline

Locking DGDs for Stake

Stake is the amount of voting power a Participant gets from locking his or her DGDs. Stake is used for voting on Projects and is also the primary factor determining the portion of DGX rewards the Participant can claim. In exchange for locking DGDs, you will receive Stake which will be used to vote on Projects during the Main Phase of a Quarter. The more DGDs you lock, the more Stake you receive.

Stake Calculation

During a Locking Phase, you will receive 1 Stake for every DGD you lock. DGDs can be locked at any time during a Quarter, but can only be unlocked during a Locking Phase.

  • Current Stake is your Stake before locking DGDs during the Main Phase
  • Additional Locked DGDs is the number of DGDs you locked during the Main Phase
  • Days Passed in a Quarter is the number of days that have passed in the current Quarter
  • Your Current Stake is 100 for locking 100 DGDs during the Locking Phase; and
  • It is currently Day 50 of a Quarter

Redeeming DGD Badges

DGD Badges were given out to our biggest supporters as a token of appreciation during our Token Generation Event in 2016. If you have a DGD Badge and redeem it, you will receive 412.5 Reputation Points, which would be more than enough Reputation Points to qualify as a Moderator at the launch of DigixDAO.

Gas Requirements for Participation

The launch version of DigixDAO is built on the Ethereum blockchain. Some of the actions in DigixDAO that require Gas to complete are:

  • Voting on Projects;
  • Creating a Project;
  • Claiming DGX rewards; and
  • Unlocking DGDs.

Participation Over Multiple Quarters

After the end of a Quarter, you are able to withdraw your locked DGDs during the Locking Phase of the subsequent Quarter. If you do not want to withdraw your DGDs, you can keep them locked in DigixDAO to continue your participation in the subsequent Quarter. However, you are still required to confirm your participation in the new Quarter before any Stake is allocated to you.

Setting Profile Details

After locking enough DGDs to participate in DigixDAO, you are able to set your username and email, which will be linked to your address in DigixDAO. Your username will be displayed to other Participants if you create a Project or comment on one. Please choose your username carefully as they can only be provided once. We do not allow multiple changes to usernames as Quarter Points and Reputation Points are tagged to your identity, whether it is your address or username. Allowing multiple changes would enable an individual to amend their identity after acting inappropriately. Of course, you can always choose to use the default username assigned to you while you decide on your username. Providing an email is only compulsory if you want to submit KYC to be a Proposer. As we will primarily communicate with you through email, we highly encourage you to provide an email address.


Digix

The Smart Asset Company

Laura Zhang

Written by

Digix

Digix

The Smart Asset Company