Dash Looks To Expand Into New Avenues
DASH has just finished the creation of Dash Ventures. A new investment vehicle, which will be financed using block rewards. The announcement was made during the Q4 2018 live stream held by The Dash Core Group on YouTube. They claimed that a lot of progress had been made on the investment vehicle’s development. The company would be registered in the Cayman Islands, and it would be a separate entity. Profits from the venture will be distributed in the Dash network.
What The Leadership Had To Say
The CEO of Dash Core said that they now had the legal structure in place. It would let those in the DASH ecosystem to gain monetary benefit from the new investment vehicle. It would all be possible without having to divulge any personal details.
Dash Ventures will start to burn DASH upon launch as a mechanism for sharing profits. One of the major issues that they faced, according to the CEO was how profits could be distributed. If they tried to distribute funds, they would have to ensure everyone goes through AML/KYC procedures. The process could cost a lot of time and money. Besides that, it would lead to issues with the taxman for those who get the profits.
As a workaround to this issue, they decided to avoid all distribution. Instead, they would purchase DASH and then destroy it. That would lead to value transfer for those that hold DASH. Because of reduced circulating supply, the value of DASH in the open market would rise. It works just like a stock buyback.
A Look At DASH
Dash was created in 2014 as crypto coin and as a DAO. It is designed with P2P payment facilitation in mind. The network uses Masternodes to verify all transactions.
Last week, DASH was one of the breakout coins. The coin, which has been at around $65 for two weeks began to rise steadily, and by Sunday, the coin was at $74. The token is trading at about $82 with signs that this upward trend could continue.
The CMO of Dash Core, who was part of the team that worked on Dash Ventures, said that burning Dash to distribute value was the only feasible solution. He said that they had considered many other options before they settled on the solution.
Possible Coinbase Listing
The Dash Core Group also confirmed during the Q4 call that they had submitted a listing submission to Coinbase. However, Coinbase is staying tightlipped; they have not given any status update on what they are doing with the submission. Dash Core hopes listing will increase its utility as a payment coin.
In September 2018, Coinbase released new rules that will let projects submit their forms to be listed. However, Coinbase still has the final say on who is listed. Since then, the number of digital assets traded on the exchange has grown quite a lot. The exchange supports 17 crypto coins. It is interesting to note that 12 of those coins were added in the last four months.