In May 2020, REP holders voted to establish a bonding curve in order to raise funds for further product development and DXdao operations. In December 2020, REP holders voted through a signal proposal to begin the process of closing the bonding curve.
DXD token holders have an economic claim to DXdao´s profit. DXD holders also have future access to a suite of services and premium features in decentralized applications, such as gasless transactions, feeless anonymizing of assets, reduced trading fees on DEX protocols, and more.
Currently, DXD holders do not have direct on-chain voting power over DXdao treasury decisions. However, DXdao is in the process of implementing a new governance regime that gives DXD holders voting rights equal to that of REP holders. For a full summary of DXdao’s new governance regime, see the Governance 2.0 upgrade article.
You can find the Governance 2.0 Signal Proposal here.