Digital Developer Fund Raises 1.8M in ICO
The Digital Developer Fund (DDF), a digital asset investment project, has raised 6,429 ETH (approx. $1.85 million) in its ethereum-based token sale.
Established as the “Domain Developers Fund” in 2010 under the Cayman Islands Mutual Fund Law, the Digital Developer Fund has continuously been investing in digital assets since its inception. DDF offers investors an opportunity to participate in high-growth digital assets, such as domain names and cryptocurrency.
DDF said that 70 percent of the funds raised from the token sale will be used for portfolio investment. Then 15 percent will be kept for reserve funds, while the remainder will be used for funding the operations.
DDF tokens represent a Proof-of-Membership in the Digital Developers Fund. Investors involved in DDF ICO are supposed to get quarterly dividends based on net profits through their smart contract as the ether payment. The 50 percent of the profit is to be distributed among investors, while the remaining half will be reinvested.
