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DigixDAO is the Digix Decentralized Autonomous Organization, a decentralized group of participants making decisions about how to grow the Digix Global Ecosystem. Participants purchased DGD tokens in the “ first always ICO on the Ethereum Blockchain. ”
DigixDAO Review [edit ]
DigixDAO Review – DGD Coin, News, Prices
In decree to distribute DGX tokens representing 1g of gold, Digix utilizes Proof of Asset ( PoA ). The process involves recording possession of an asset on the Ethereum blockchain and the creation of PoA Asset Cards. “ The asset cards are certified using consecutive digital signatures from the entities in the chain of hands, namely, the Vendor, Custodian, Auditor, which are further validated with validation of leverage and depository receipts provided and upload onto the InterPlanetary File System for permanent commemorate. ”
In entire the Proof-of-Asset Cards stored on the Ethereum blockchain control :
- Timestamp of card creation;
- SKU of the gold bar;
- Bar serial number;
- Chain of custody digital signatures (Vendor, Custodian, Auditor);
- Purchase receipt;
- Audit documentation;
- Depository receipt;
- Storage Fees due.
DGD token holders will make decisions related to any proposals submitted to DigixDAO. As a reinforce for vote and decision make in the growth of Digix, DGD holders receive rewards related to DGX, a token that represents 1 gram of gold. The tokenization of amber aims to provide stability and shop of value in the cryptocurrency space. In order to distribute DGX tokens representing 1g of gold, Digix utilizes Proof of Asset ( PoA ) .
DGX Token [edit ]
DGX tokens are created by a smart narrow that receives PoA cards and generates DGX tokens for each gram of gold. For exercise, if a 100g PoA calling card is sent to the smart contract, 100 DGX tokens are created and sent to an Ethereum wallet. This means Digix doesn ’ thyroxine absorb in fractional reserves. Each DGX token always represents 1g of gold and is divisible to 0.001g .
The DGX tokens come with two sets of fees associated with store and securing aureate. There ’ sulfur a demurrage tip that comes out to be 0.60 % per annum and besides a 0.13 % transaction fee when transferring DGX with an Ethereum wallet. however, Digix will wave the storehouse fees during the first year of process .
DGD Coin [edit ]
Holders of DGD can vote on how the DigixDAO funds are allocated. DGD token holders can make “ active managerial decisions to any proposals submitted to DigixDAO. ” however, there ’ s some confusion about the rewards for DGD holders who vet and approve project proposals .
There are 2 million DGD tokens in universe with 15 % allocated to developers. however, if the DigixDAO requires more fund and the majority of participants agree, then another DGD token crowdsale can take place.
The supply of DGX tokens will depend on the demand for amber and the size of their vaults. The first gear vault Digix is working with can hold about 2 billion USD worth of gold, so if the new DGX gold standard becomes popular, they will need to expand to more vaults .
DGD Price [edit ]
DigixDAO ( DGD ) Price prediction [edit ]
If the DGX token successfully represents amber, then there are plans to create more tokens for silver and other precious metals excessively .
The 0.13 % transaction fees and one-third of the demurrage fees on DGX go into the rewards for the DigixDAO. a far as the sustainability of the DAO and DGX keepsake, if at least 80 % of DGD holders vote to liquidate the DAO, then DGX holders will be reimbursed either in gold bars, decree, or a cryptocurrency .
Exchanges [edit ]
The huge majority of DGD volume takes plaza on Binance and Huobi. On Binance the DGD has both BTC and ETH pairs. When DGX goes live, it will be available for purchase with Ether on the Digix marketplace .
DGD Wallet [edit ]
Any 3rd party wallets that allow customs Ethereum tokens can store DGD and DGX ERC20 tokens .
Advantages [edit ]
About 5.5 million USD was raised during the 12 hour crowd sale. This rate will actually be used for investment in peripherals that increase DGX adoption as approved by DGD holders .
Some of the benefits of DGX include :
- Rewards. DGX holders are going to reap big from DGX. They are going to claim rewards on transaction fees of DXG, which is currently at 0.13% of the balance sent.
- Badges. Those who sent over 15,000 USD during the crowd sale are set to receive the biggest rewards. They will receive a special proposer badge witch will allow them to submit their proposal directly to DigixDAO.
- Proposals. Once the proposal has been approved by other badge holders, voting will start and it will be open to all DGX holders. They can accept or reject your proposal on a secret chain ballot.