The xDGMV token

Read all about how the xDGMV token workds

xDGMV token

xDGMV is how we refer to$DGMV tokens that are locked in governance contracts. They are non-transferable, and their utility is limited to participation in DGMV community governance.

xDGMV is not a separate token – only an extension of $DGMV

Generating xDGMV tokens

The only way to create xDGMV tokens is to lock your $DGMV tokens in a governance contract. For each $DGMV token locked in the governance contract, token holders will receive one xDGMV token.

Converting xDGMV to $DGMV

To convert xDGMV tokens back to transferable $DGMV tokens, you must initiate a withdrawal. Here's how the withdrawal process works:

• A selected amount of xDGMV tokens stays locked in a vesting contract for 12 months

• After 12 months, the xDGMV tokens will be burned, and you’ll receive an equivalent amount of $DGMV tokens from the pool previously locked in the governance contract

• The token holder loses the governance power multiplier associated with holding the xDGMV tokens which are being withdrawn

• xDGMV tokens subjected to the withdrawal mechanics remain usable for governance, with half the voting power based on token amount

Remember… Any tokens locked against proposals through governance mechanics will be removed from the withdrawal.

xDGMV Utility

You can use your xDGMV tokens to:

• Create draft proposals

• Advance draft proposals to the voting stage

• Vote on proposals