The DAO project has become a hot topic as of recently with many raving about its capabilities to overhaul the concept of digital currencies by not only expanding its financial capabilities but further exploring the practical applications it could have. The ICO for the token has broken all previous records for crypto funding rounds, as talked about before on the site, but a further surprise has come for Ether holders who have seen a considerable rise in terms of value when compared to Bitcoin as the pair rose to 50% in favour of Ethereum.
“The token sale is structured in a way that for a time after the crowdsale has completed, DAO token holders get a freely exercisable option to either burn or swap the newly minted tokens back for ether,” he continued. “This clever structure has incentivised a large number of ETH holders to take part in the crowdsale.” John Lee
The project has been heralded as one of the biggest to occur on the Ethereum platform as it has become one of the biggest services allowing users to fund start up and business on demand via their platform. Not only has flexibility played a major part in the Ether price hike, the fact that Ether has always been regarded as one of the main competitors to the likes of Bitcoin has further garnered interest and kindled curiosity in Ether holders as the project could be a viable investment opportunity.
You too can jump in on the action as the NairaEx exchange allows you to purchase Bitcoin on demand using Naira and following the rise in value of Ether from $10 to highs of almost $15 on some exchanges further growth may yet to come for those who can cash in early before market stagnation which analysts anticipate may occur after the initial phase of the project nears a end.