Posted on April 1, 2018
DigixDao provides a transparent, auditable, and secure protocol that leverages the full potential of Ethereum’s peer-to-peer decentralized consensus system and IPFS permanent document storage to facilitate the creation of transferable crypto assets on the blockchain. Thus far, Digix has created two types of ERC20 tokens, each with unique properties. These two tokens complement each other to ensure their joint success.
Each DGX token represents 1g of 99.99% LBMA standard gold stored in Safehouse vaults. 100 DGX are redeemable for 100g of physical gold in person or by mail.
The DGD token claims quarterly rewards based on the total DGX collected through transaction fees. They are also used to pledge on DigixDAO proposals with the goal of increasing DGX adoption.
– Allows a store-of-value in a stablecoin backed by a real-world asset (gold)
– The more people buy DGX, the more rewards you get for holding DGD. This is very good in a bearish market where people want to store their assets in a stablecoin
– Low transaction fees (0.13%/tx)
– In a bullish market, not many people buy stablecoins, so the rewards for holding DGD are smaller
– The lock-up period to earn rewards is 3 months
The DGD network is up. DGX 2.0 is scheduled to launch in Q1 2018.
Q1 2018: Launch of DGX 2.0
Digix utilizes a Proof of Asset (PoA) Verification process which records and provides an audit trail of an asset on Ethereum to create PoA Asset Cards. The asset cards are certified using sequential digital signatures from the entities in the chain of custody, namely, the Vendor, Custodian, Auditor, which are further validated with proof of purchase and depository receipts provided and uploaded onto IPFS for permanent record.
The DigixDAO governance model is currently undergoing a careful planning, development and auditing process.
DGX is similar to other stablecoins like Tether (asset-backed) and Dai (collateralized).
Digix is partnered with Republic Protocol, MakerDAO, Pundi X, AirSwap and Monolith Studios.
DGD is traded on Binance, Huobi, OKEx and HitBTC.
DigixDAO is a protocol layer built on top of the Ethereum blockchain.
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.