European-based cryptocurrency exchange HitBTC has announced support for trading Digix Global’s DigixDAO token (DGD) versus BTC.
In March 2016, Digix Global completed the first ever crowdsale on the Ethereum blockchain. It outdid expectations by reaching it’s $5.5 million USD target within 12 hours.
With the Digix DAO, Ethereum’s first major ‘Distributed Autonomous Organisation’ was born.
INFO ON DIGIX DAO TOKENS (DGD)
– Quarterly rewards based on the total DGX (gold-backed token) collected through transaction fees
– Used to pledge on DigixDAO proposals with the goal of increasing DGX adoption
– DGD value fluctuates based on exchange rates and market forces
– There are 2,000,000 DGD tokens in existence
DGD holders as mentioned get to claim rewards on transaction fees of DGX, the Digix Global gold-backed Ethereum based token. Transaction fees are at 0.13% of balance sent, capped at 1 DGX per transaction.
Each DGX token represents 1 gram of 99.99% LBMA standard gold secured in Safehouse vaults. Holders can redeem 100 DGX tokens for 100g of physical gold via personal or mail.
Singapore-headquartered Digix Global aims to enable the moving of assets to the Ethereum blockchain, starting first with the gold-backed DGX token. The company refers to themselves as “not a payment processor but an asset issuance service on the blockchain.” Digix back in February partnered with Monolith Studio to develop a DGX based debit card allowing for the global and everyday spending of the gold-backed tokens.
