Following the series of articles about Coin and Token's Coin98. Today, let's find out about DigixDAO (DGD).
Along track posts!
- 1 What is DigixDAO?
- 2 What does DigixDAO solve?
- 3 What is the solution of DigixDAO?
- 4 What is DGD Token?
- 5 Basic information about Copper DigixDao (DGD)
- 6 Allocation DGD Token
- 7 Token Sale DGD
- 8 Token Release Schedule DGD
- 9 DigixDAO (DGD) exchange rate today
- 10 What is DigixDAO (DGD)?
- 11 What is DGD token used for?
- 12 DGD Token transaction fee
- 13 How to earn and own DigixDAO (DGD)
- 14 Secure DigixDAO (DGD) storage wallet
- 15 DigixDAO trading platform (DGD)
- 16 The future of the DGD Token
- 17 Should we invest in DGD Token?
- 18 Summary
- 19 F
What is DigixDAO?
DigixDAO is a Blockchain Service.
According to the definition of team dev DigixDAO
DigixDAO is an integrated part of "Decentralized Autonomous Organization" (DAO) created and implemented on Blockchain. To interact with the community to run and build the financial system according to the "gold standard" on the platform Ethereum.
According to the definition of Coin98
DigixDAO (DGD) is a Blockchain project on property protection services for investors. DigixDAO is built on Ethereum's ERC-20 platform. In it, it is a "Decentralized Autonomous Organization" (DAO).
DigixDAO gives users the right to profit in the DGX token trading, owning the right to store gold in vaults in Singapore.
What does DigixDAO solve?
Here are the problems that dev team wants to improve today:
- The hoarding of gold assets faces legal difficulties.
- The protection of assets is difficult.
- Value of Cryptocurrency unstable.
What is the solution of DigixDAO?
In order to make these changes, the dev team has applied the power of Blockchain technology. Especially, developing the Proof of Provenance (PoP) protocol to protect customers' assets safely. In addition, the dev team used the dual token mechanism to reward DGD holders.
Some features of the above solution:
- Create a breakthrough in property storage.
- Using the DGX token as a stablecoin helps stabilize prices for its holders.
- Special assets, especially gold, are kept safe and secure in Singapore bunkers.
I will talk more in detail about the technology and ecosystem of the project in the sections below. Watch closely.
What is DGD Token?
DGD is the Token of the official token network within DigixDAO's network. It is run on the Ethereum platform according to ERC-20 standard.
DGD is issued by DigixGlobal Foundation through the form ICO on June 29, 03.
Basic information about Copper DigixDao (DGD)
- Ticker: DGD
- Contract: 0xe0b7927c4af23765cb51314a0e0521a9645f0e2a
- Decimal: 9
- Blockchain: Ethereum
- Token Standard: ERC-20
- Consensus: Proof of Provenance (PoP)
- Token type: Utility Token
- Circulating Supply: 2,000,000 DGD
- Total Supply: 2,000,000 DGD
Allocation DGD Token
Token Sale DGD
- The project to sell DGD Token through ICO in the form of Public Sale took place in 12 hours on 30/03/2016.
Price ICO: 1 DGD = $ 3.23
The project sold out 1,700,000 Token, collecting about 466.648 ETH (about $ 5,500,000 at that time).
In November 11 the project had a second ICO and raised $ 2017 from Global Brain and Fenbushi Capital. However, the investors decided not to accept any DGD or DGX.
Token Release Schedule DGD
Currently, all tokens are already on the market so there is no plan to return the tokens. All investors participating in the ICO have paid enough tokens.
DigixDAO (DGD) exchange rate today
What is DigixDAO (DGD)?
In this part, I will talk about technology and applications in life and ecosystem of the project.
What we often see in Blockchain projects that use the dual token system is: There will be one token that plays a role in payment of the project's ecosystem operation, the other token will be used for transactions. with other currencies and representatives for that project.
However, DigixDAO's model is a little different from other projects.
DigixGlobal has created two projects called DigixDAO (DGD) and DigixGold (DGX). Both projects create 2 types of tokens with completely different purposes and use circumstances, but both support each other. Inside:
A stablecoin backed by gold with a ratio of: 1 DGX = 1 gram of gold. All gold reserves will be stored at "Safe House Singapore" (Singapore Vault).
DGX is only created when someone wants to buy gold through the Digix gold market. In this way, investors will receive DGX equivalent to the amount of gold they have purchased through Digix. And, they can exchange for gold equivalent to the number of DGX they hold at any time.
DGD holders will have voting rights and other management rights to decide how to navigate the entire Digix ecosystem.
In return for their work and contributions, DGD owners will also be rewarded in the form of DGX which will come from transaction fees and asset management fees charged by gold investors.
To clarify, let's get into how it works through an example below.
First, DigixGlobal will buy pure gold before issuing the DGX token. This ensures DGX supply is in line with existing gold reserves.
All information about gold will be posted on Blockchain for transparency, traceability and verification. This is to prove that you are the rightful owner of the gold you bought. In this way, 1kg of gold is broken down into 1,000 grams of gold equivalent to 1,000 issued DGX tokens.
Users who want to hoard gold by buying DGX. After purchasing and owning DGX, users must pay an annual fee and a transaction fee when trading gold with each other. And the above two fees will be used to reward DGD holders as people who ensure a safe and growing ecosystem.
What is DGD token used for?
As I mentioned above, DGD and DGX are two tokens of two different projects. So the purpose of both will be different.
- DGX is considered as a stablecoin for investors to shelter assets. DGX is used to pay transaction fees for holding. Specifically, DGX holders will be subject to two fees: 0.6% annual fee and 0.13% transaction fee.
In addition, DGX is exchanged for gold when the user needs it with the ratio: 1 DGX = 1 gram of gold.
- DGD is used as a share, users must hold at least 10 DGD to vote and receive rewards from the transaction fee of DGX holders.
DGD Token transaction fee
Currently, DGD is running on Ethereum's ERC-20 platform. So when trading or transferring DGD, users will be charged the following fees:
- Blockchain network transaction fees are collected by Ethereum.
- Exchange fee: withdrawal fee, transaction fee collected by the exchange.
How to earn and own DigixDAO (DGD)
At the moment, ICOs are sold out. All tokens have been created, so there will be no Airdrop & Bounty programs like other Blockchain projects.
Those who want to earn DGD Token can only buy on the DGD listed exchanges. For example: Bitrue, Binance, VinDAX ...
Secure DigixDAO (DGD) storage wallet
DGD tokens are developed on the Ethereum ERC-20 platform. So, you can store DigixDAO (DGD) on Ethereum wallets like:
- Web Wallet: Myetherwallet, Mycrypto, Metamask.
- Hardware Wallet: Ledger Nano S, Trezor.
- Mobile Wallet: Atomic Wallet, Trust Wallet, ImToken.
However, as informed by the dev team, you should store DGD on Lumiwallet to ensure safety.
Those who use smartphones can go to App Store and Google Play to download. If using a PC, please follow the link below to create an account: https://lumiwallet.com/about-web/
In addition, if you regularly trade DGD, you can store it on the wallets of the exchanges. Some exchanges are currently supporting DGD such as Bitrue, Binance, VinDAX ...
DigixDAO trading platform (DGD)
After more than 3 years of launching, DGD Token is currently listed on many large and small exchanges.
Some exchanges currently support listing DGD such as: Bitrue, Binance, VinDAX, CoinBene, Huobi Global ...
Maybe you are interested in: What is Binance? How to use Binance Exchange?
The future of the DGD Token
In DigixDAO's Business Model, DGD is used for the purpose of Utility Token.
Here I would like to emphasize the Business Model of the project as follows:
The goal of the project is to develop the Digix ecosystem through a decentralized consensus among token holders DigixDAO (DGD).
This will ensure high liquidity for gold and provide investors with a relatively low volatility haven.
In addition, it also helps investors enjoy the benefits of cryptocurrencies.
So when does demand for DGD tokens increase?
In recent years, relatively large fluctuating investment channels will cause loss of assets for investors. Therefore, finding shelter is very important.
Digix launched the DGX token with the goal of helping investors protect their assets and help gold's liquidity increase. That will cause many investors wishing to buy DGX.
The high purchase of DGX will result in higher fees from DGX holding investors. That gives DGD holders more rewards for their holding.
As the benefits of holding DGD increase, there will also be more users who want to hold DGD to benefit from it. This will lead to an increase in demand for DGD Token. Make a significant impact on the price of DGD Token
However, this is only a far future when the project is still in the process of completion, please wait and see.
Should we invest in DGD Token?
Some keypoints I noted so that you can learn more and make your own investment decisions:
The project has completed its objectives until the end of 2017. Since then, the project has not had updated information on roadmaps. I had a chat with the dev team but didn't get a response.
You can go to the link below to see what team dev has done until January 01, 01: https://digix.global/assets/pdf/roadmap.pdf
On March 30, 03 the project launched the Mainnet.
Mainnet is the official product of Blockchain project as mentioned in the whitepaper.
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The project has no product specific applications.
DigixDao's partners are divided into three groups: Exchanges, Adoption & Other.
- Airswap: DGX tokens are accepted and developed on the Airswap platform.
- Radar Relay: The cooperation helps Digix provide gold price fluctuations to users.
- Monolith Studio: Collaborate on development to create a secure DGX TokenCard.
- WeTrust: Bring back savings and loans with "gold" on the Blockchain.
- Maker DAO: DHX tokens play an important role in DAI stablecoin.
- Request Network: Users on the ecosystem can request payment by DGX.
- pundix: Integrate DGX tokens into payment points.
- Traceto: Traceto.io will provide the service KYC for Digix platform.
- Enterprise Ethereum Alliance: DigixGlobal is a new member of the alliance.
To the token side
DGD is Utility Token. It is used to pay transaction fees on the Ethereum network and is used to vote on the future direction of the Digix ecosystem.
At the end of this article, I hope you will have more useful information about DigixDAO (DGD) before making investment decisions.
Do you have any thoughts or questions about this DigixDAO (DGD)? Leave your comments below. Me and the team Coin98 will respond in the shortest possible time.
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