What is the Digibyte Hodlers Certificate?
A digiasset created on the Digibyte blockchain
How many are available?
How much does 1 asset cost:
What is the goal of the asset:
There are many goals the asset tries to achieve:
A democratic transparent fundraising initiative to grow Digibyte:
When a person purchases a Digibyte Hodlers Certificate, 190DGB will go to a shlushfund.These funds will be applied to causes that the user supports, and all like-minded asset owners who agrees with the cause, can then pool their shlushfund money together, so creating economies of scale and having the funds available for development
How will these causes be chosen?
All causes will be chosen through a democratic voting process, and a user will only contribute his/her asset towards that goal once they know there are enough assetholders to cover the required costs. Each asset counting as a vote, thus preventing parting with money until you are sure the funds are available, and ensuring all money spent are democratically assigned.
What happens if I don’t agree /don’t want to support a cause:
No asset holder will be obliged to support a cause he/she does not agree with. That holder holds on to their asset, and their 190DGB remains in the slushfund
How do I vote:
Voting occurs once a user sells his asset back to the pool. At which point the 190DGB will be released to the cause they voted for.
A mechanism to safeguard your Digibyte from exchanges and avoid panic selling
Many people keep their coins on exchanges, for various reasons. This in its own is a security risk, as if its not your keys, its not your coins. Keeping your coins in the asset provides security and assists weak hands from emotional sells at the bottom of cycles. Holding the asset in no way forces you to vote. Your money, your decision. This token can also be used as a stablecoin, worth 190 DGB, tradeable for other coins to the value of 190DGB, or if the user prefers, for fiat from someone to the value of 190 DGB, which will be redeemable upon maturation from the fund.
What happens if I do not vote for anything:
You can use the asset as a strictly hodl mechanism. Starting 1 January 2021 (and every 1 January following), holders will have the ability to sell their assets back to receive their 190 DGB. In keeping to these dates, Digibyte can plan a year ahead, knowing the funds available from the community for just causes they agree on. This also, as mentioned earlier, will avoid panic selling and make hands stronger. Effectively, if you don’t vote on anything, this becomes a fixed investment, and can become very profitable in USD value when the user sells on the 1st of January.
How will the user know this is legitimate?
The token will be held in a multisig wallet, with DGBAT having full access over the wallet as well
DGBAT can at any time require funds from the token, at which point the token holders will vote to release funds to DGBAT.