Dash is not your regular kind of cryptocurrency, not anymore. Rather, I would consider it an asset. Coupled with its advantage of it being less liquid as compared to bitcoin.
Dash, unlike many other cryptocurrency have an investment foundation called the “DASH INVESTMENT FOUNDATION”
The Dash investment foundation (DIF) – An entity controlled by the dash decentralized network, ponders over buying shares in Tesla and Coinbase’s IPO (the largest cryptocurrency exchange in US)
TESLA (An American electric-automobile manufacturer) stock is up an incredible 695% in 2020, making it one of the most valuable companies on the world with a $630 billion valuation.
COINBASE (Largest cryptocurrency exchange in the US) is reported to have an estimated value at $100 billion when it sold shares on the private market as reported by AXIOS. According to recent SEC filling, Coinbase took in about $1.3 billion revenue in 2020, more than twice as much as the year earlier.
Tesla CEO- ELON MUSK, recently made a company purchase of 1.5billion worth of Bitcoin which lead to a bullish trend of bitcoin resulting in an increase in market price. This lead to speculations among cryptocurrency traders, as to which company would make another investment next.
At times when companies are rushing to own cryptocurrencies, Dash can own companies that help you buy bitcoin
Dash, on the other hand has not only the option of being owned by companies and cryptocurrency traders but also of owning companies. This is made possible by Dash investment foundation (DIF); first of its kind.
Communication Manager for Dash, Mark Mason stated that:
“The cryptospace hasn’t realized just yet how revolutionary the DIF is. It’s one of blockchain’s best kept secrets. While the media is currently fixated on tech companies buying Bitcoin. The Dash network is investing and taking equity in blockchain start-ups and tech companies. The DIF portfolio is growing fast, partner interest is strong, the DIF is reviewing many company pitch-decks for investment and we have new DIF investments in the pipeline that we’re very excited to announce to the network. It’s a very exciting time for Dash!”
The Dash investment foundation (DIF), was incorporated on March 21st 2019, as a Cayman Islands foundation company limited by guarantee. Dash is now the first cryptocurrency network with a proposal system capable of investing in its own ecosystem. The DIF can hold assets on behalf of the network and redeploy profits into additional growth-oriented projects, this makes it possible for dash network to be able to own shares in Tesla, Coinbase and other companies.
A survey which was carried out by Communications manager for Dash, Mark Mason. This survey showed about 32.1% support for shares in Coinbase IPO, making it the top choice. Next rated top choice being Tesla shares showed a vote of 25.1%. In addition to these, 28.5% showed interest in acquisition of both shares (Tesla and Coinbase)
The Dash investment foundation (DIF) present portfolio, includes equity in trading platform QUADENCY, retail and payment apps CRAYPAY, gaming platform READY RAIDER is making headway towards accepting shares from DASH RETAIL.
During a Live AMA, Ryan Taylor, CEO of Dash Core Group and DIF Supervisor was asked
“What kind of products can the actual DIF invest into, is it only equity? Or can you buy stocks and shares. What can the DIF do? “
Following this question, Ryan Taylor commented
“What the charter of the Dash Investment Foundation says is that it will invest for the benefit of the network. Now that does technically allow the DIF to invest in stocks, bonds, or whatever it wants. I think the real secret sauce where it really shines is in bringing partners to the table.”
Dash investment foundation (DIF) is the world’s first ownerless and memberless investment fund. The DIF was founded with the aim of supporting the network’s growth by enabling enforceable legal and financial arrangements between the Dash DAO and traditional businesses. Dash is now the first cryptocurrency network with a proposal system capable of investing in its own ecosystem. The DIF can hold assets on behalf of the network and redeploy profits into additional growth-oriented projects.
How does DIF gets funded?
When asked about how DIF was able to get it’s funding from the network to invest in Tech companies. Since it’s going to need a significant amount coupled with the fact that the Dash Autonomous Organization (DAO) is independent. Mark Mason the communication manager answered by saying;
“Where 100% of Bitcoin’s block-reward goes to miners, Dash’s block-reward is split between miners, masternodes and a proposal treasury system. Dash’s treasury proposal system has 5325 Dash total available per monthly budget for allocation. With Dash’s price at $302, that’s $1,608,150 the network has to allocate to proposals that will grow and add value to the network. If Dash goes back to the 2017 ATH of $1600 it’s going to have $8,520,000 every month for development, investment, marketing to build and grow the network. The higher the Dash price, the stronger the network becomes by creating positive feedback loops that snowball and grow the network ecosystem”
This proposal treasury system also accounts for the DAO independency. He also said that unlike bitcoin which had the first-mover advantage as being the first Proof of Work cryptocurrency, Dash had the first-mover advantage of being the first Proof of Service cryptocurrency with a decentralized autonomous organization that is independent; self-governing and self-funding.
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