DigixDAO is a crypto-currency whose value is backed by Gold. Behind DigixDAO a decentralized Autonomous organization – Digix, a group of members decides about how the Digix Global Ecosystem evolving.
For the coordination and decision-making in the growth of Digix DGD receive rewards holders. With the backup of the Token by Gold, to ensure the stability of the currency. By DigixDAO the ownership of Gold is to be digitized.
Proof of Asset
Digix uses the Proof-of-Asset (PoA) in order to achieve within the Blockchain consensus. The logic of the Proof-of-Asset-Protocol is based on Smart Contracts Ethereum, and thus benefits from all of the infrastructural advantages.
This process includes the recording of possession of a token on the Ethereum Blockchain, and the creation of so-called PoA Cards. These Asset Cards are checked with sequential digital signatures from the seller, the Depositary and the Auditor of the proper process – certified, so-called Chain of Custody.
Furthermore, there is a validated purchase will continue to be evidence recorded during and in the InterPlanetary File System uploaded. Continue to the temple of the map creation, the bars of item number of the gold, the serial number of the ingot, due storage fees, and the DGX-Token on the Cards of the time.
The seller, ValueMax Singapour, is a listed company, the certified gold bullion sold by the London Bullion Market Associate. A third party, an independent audit Bureau, the Bureau Veritas, will examine quarter-yearly, and both the quality and quantity of the deposited gold.
The safety Deposit box in Singapore that can hold up to 30 tons of Gold. Digix is trying, however, to increase security – to find safes throughout the world.
The Token of DigixDAO: DGX-Token and DGD-Token
Digix has created two different Ethereum Token: DGX and DGD. DGX is supposed to be the future gold standard within the Ethereum Ecosystem.
A DGX corresponds to tokens of a gram of LBMA Standard Gold, which is based here, as a real object of value in the Token.
DGX-tokens are created by Smart-Contracts on the PoA Card. Each of the DGX-Token is in 0.001 g is divisible. The DGX-Token include two fees that are associated with the storage and security of Gold. There is a storage fee of 0.60% per annum and a transaction fee of 0.13% in the case of the Transfer of DGX to an Ethereum wallet.
Instead of using the PoA Card to the DGX-generate Token, also the reverse process is possible: The Conversion of the DGX-Token on the Asset Card in physical Gold and its extraction.
The DGX-tokens are the core of the DigixDAO and is intended to solve two problems. You want to make it easier and cheaper to own gold assets, and to sell the crypto-currency the much-needed stability.
DGD-Token to vote in the Ecosystem
DGD-Token are reserved for the members of the Digix – as mentioned above–. The members are able to vote and to whom the DigixDAO funds are allocated. DGD-Token-holder can make active management decisions for all of DigixDAO submitted proposals.
For this purpose, the DGD-holders of rewards, if any, in the Form of the DGX-discounts or any other discounts received, but not in the Form of a passive income, dividends, etc.
The DGX-tokens were offered in the first quarter of 2018, to purchase. According to CoinMarketCap DigixDAO takes currently place 50 on the crypto market, with nearly 390 million USD market capitalization.
There are currently 2 million tokens, of which 15 % for the further development of the project are reserved. Of course for a DGX-Token is 199,98 dollars.
Long-term stability and low volatility?
DigixDAO is a crypto-currency is backed by Gold. Nevertheless, there are large fluctuations, so that a corresponding counter-value in the Form of Gold is no guarantee of low volatility.
Offizizlle website: https://digix.global/
White paper: read Here
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