Digix (DGX) is a token that is part of Digix Global, which is a platform built on Ethereum for transacting gold on the blockchain.
The Gold Standard in Blockchain Digital Assets
Digix DGX represents 1 gram of 99.99% LBMA standard gold that is secured in a safehouse vault.
Every asset represents a unique bullion bar sitting in designated securitised custodial vaults. The provenance of the Gold is traceable, immutable and exists indefinitely.
They also state that DGX is free from the volatility of other cryptocurrencies, and will have..
- On chain proof of auditing
- No fractional reserves
- LBMA approved refiners
So with this token it is more like purchasing gold itself, but there is also another token that is part of Digix Global called Digix Dao [DGD] which is basically owning a stake in the network itself and there are only 2,000,000 total.
DGD holders get to claim rewards on transaction fees of DGX.
So all in all the project seems great for people interested in buying gold on the blockchain or even being a part of the network itself, and I'm excited to see how these types of projects help secure precious metals transactions in the future!
Disclaimer: All of my opinions are only opinions, and it is not investment advice. Please do your own research before investing in anything.
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