DigixDAO (DGD)

Crafted with  by Trade Crypto Live
Name Price Supply Volume Market Cap
digixdao
DigixDAO
$19.90
2.00M DGD
$1.71M
$39.80M

TRENDING

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QUICK STATS

Proof of Provenance mechanism which creates an audit trail for assets and allows third-party vendors, custodians, and auditors to digitally sign transactions attesting to the purchase, quality, and storage of assets.
Binance
Houbi
Digix is building a decentralized autonomous organization (DAO) for the governance of a network focused on tokenizing physical assets.

The project provides the infrastructure to create tokens backed my physical assets on the blockchain. For example, Digix Gold Token (DGX) was the first asset launched on the blockchain and is a token that was backed by one gram of gold held in a vault.

Any investor who want to buy physical assets without having to physically own it or store it.
Onegram, LAToken(LA)

VIDEOS

BACKGROUND

Whitepaper Summary
The DGD whitepaper reads more like an extended FAQ for would be investors. It is quite superficial and throws up more questions with respect to their whole business model, risk and governance processes.
Problem Solved
By creating tokens backed by physical assets, like gold, three key advantages can be realized.

1. Tokens can theoretically act as stable forms of payment on the Ethereum network due to their fully collateralized nature.

2. Assets recorded on the public ledger allow users to audit holdings and ensure that the custodian of the assets holds the collateral they claim.

3. If a central party such as DigixGlobal fails, token owners have a public record of their holdings that can be used to retrieve their physical collateral

Competitive Edge
The biggest edge that Digix has over other existing investment options is the fact that this system issues the allocated gold immediately. This sets client ownership as the priority as opposed to that of the overall business.

Additionally, Digix is able to combine the stability of gold with the guarantee of liquidity. Digix makes it easy of liquidate the physical asset (i.e., gold) and thereby allowing investors use it in daily life while still relying on its physical security.

Development Roadmap
N/A

INITIAL COIN OFFERING (ICO)

DigixDAO completed a token sale on March. 30, 2016 after raising 466,648 ETH (equivalent to $5.5 million at the time).
A total of two million DGX were created and sold during the sale. Of this, 85% of tokens (1.7 million) were distributed to the public. DigixGlobal retained the remaining 15% (300,000)
USD$5.5m
March 30, 2016 / USD$3.23

TEAM INFO

Creators / Founders

Kai C. Chng.
CEO and Co-Founder

Chng is a 2011 graduate of NYU’s Leonard Stern School of Business. Before founding Digix, he was a forex trader for HSBC.

Shaun Djie
Co-Founder

Djie is the cofounder of Digix. Djie also has experience as a trader in Singapore. He has been the Lead Coordinator of the Ethereum Singapore Meetup since May 2015.

Core Development Team

N/A

Notable Advisors

N/A

Notable Investors
Global Brain
Fenbushi Capital

Trade Crypto Live Sentiment

DGD has been said to go “opposite of Bitcoin”. Many believe that DGD is backed by real gold. At Trade Crypto Live we want our people to understand fully what they are going to trade or invest in.

The issue, at present, is the misunderstanding that investors have between DigixDAO (DGD) and that of DigixGold (DGX). The former is the cryptocurrency currently being traded, which has no bearing with the gold that they mention. The latter is the cryptocurrency that will be offered and traded sometime in the future which is proposed to be backed by gold.

Therefore, investors are hedging their bets that the DGD team fulfil their goals of creating not just a token that is physically backed by gold but with it the whole ecosystem.

At this time TCL does not trade or invest in DGD and will address the company and fundamentals when and if a finished product is released.

Reference & Links
https://coincheckup.com/coins/dai/markets

https://bravenewcoin.com/assets/Whitepapers/digixdao-info.pdf

https://digix.global/dgd/