DGD

DigixDAO refunds ETC coins to DGD holders

HitBTC Team

• 1 min read

Dear Traders,

Those of you who hold DigixGlobal tokens (DGD), are entitled to ETC coins, which were formed on Ethereum main blockchain before the hardfork. DigixDAO project had recently announced global refund of these coins.

And we are glad to cooperate with DigixDAO and offer you an easy way to get this ETC redemption!

How will it look like for you and what should you expect exactly?

  1. You deposit DGD on your HitBTC main account;
  2. As soon as Ethereum chain reaches the block #3800000, a snapshot is being taken;
  3. And after the snapshot you receive your ETC! For every 100 DGD you’ll receive ~23.25 ETC. 

For those who are curious and wish to know how this works:

  1. Special Ethereum-based token DGDR will be created and assigned to DGD holders. 1 DGDR = 1 DGD. DGD holders receive DGDR on top of their current balances, so after the redemption process completion they will have both DGD and ETC on accounts.
  2. DGDR will be converted to ETC with the conversion rate about 23.255 ETC per 100 DGDR.
  3. All DGD holders will be credited by ETC in accordance with their balances at snapshot time. Snapshot will be taken for all the DGD holders’ accounts on Ethereum Main Chain at the block number of #3,800,000.

scheme copy

 

Please note that we will have to stop all operations with DGD at May, 30th 13:00 UTC to safely handle users’ DGD tokens before the snapshot.

Make acquaintance with Digix’s materials for further reference:

Github.com, Medium.com