Digix, the creator of the world’s first asset-backed digital gold token, has now gone live with its revamped marketplace and website. The new marketplace and online platform aim to simplify the process of users purchasing and managing Digix’s native DGX token; meeting the growing demand for access to tokenized assets from retail investors globally.
Higher Limits + Consolidated Platform
To facilitate greater ease of use, new users on the Digix platform can now register for an account and purchase up to 10 DGX daily with a lifetime limit of 110 DGX before KYC is required. In addition, users accessing the official Digix marketplace can now expect a consolidated administrative dashboard that streamlines the processing of purchasing, tracking, and managing DGX holdings.
“The launch of Digix’s revamped platform marks a major milestone for Digix as we seek to meet increasing demand for tokenized assets from retail investors and those from outside of the cryptocurrency ecosystem. In order to reduce barriers to entry for market participants, our newly launched platform is designed with users in mind, from first-time market entrants to seasoned digital assets traders.”
– Shaun Djie, Co-Founder and COO of Digix
The revamped platform went live from February 10th, 2020 at 11 pm SGT (UTC+8) and offers the following features:
- Enhanced user-experience: Digix’s revamped platform features an easy-to-navigate admin dashboard that allows DGX holders to manage their DGX tokens, update their wallet, and personalize their settings all in one consolidated dashboard.
- Ease of purchase: It is now easier than ever for users to purchase DGX—prior to the launch of Digix’s improved marketplace, the KYC process when registering for an account could take up to two days but now, new users can register for an account without KYC and purchase up to 10 DGX daily with a lifetime limit of 110 DGX before KYC is required.
Djie added, “To date, digital asset platforms have been highly fragmented, complex, and unnavigable for the ordinary user. The lack of attention given to user experience when designing these platforms is a huge obstacle to increased market entry from retail customers and the growth of the industry. With an easy-to-use, integrated dashboard, the revamp is aimed at reducing these barriers to entry so that anyone can access the benefits which tokenized assets have to offer. Moving forward, Digix will be doing its utmost to ensure that our tokenized gold tokens, DGX, are accessible to investors of every kind—our revamped platform is just a single step in this journey.”
Using the Ethereum blockchain to account for the authentication and provenance of 99.99 percent investment-grade gold bullions, Digix keeps a register of physical gold bars on the blockchain, and has pegged each DGX token to 1 gram of London Bullion Market Association approved physical gold.
DGX significantly simplifies the process of investing in traditional gold markets, for retail and institutional investors alike, providing the opportunity to purchase gold bullion in increments. Every DGX token is stored in accredited precious metals vaults in Singapore and Canada. It is worth noting that Digix also zeroed the demurrage fee DGX, further lowering the cost to hold the token over time.
Digix’s DGX gold-backed stablecoin is available on more than 10 digital asset exchanges, including VCC Exchange, HotBit, ProBit, Bitfinex, and Switcheo Network. Digix recently reported it is making a concerted effort to increase its accessibility and overall presence within the South East Asian market.
DigixDAO (DGD) Dissolution
At the end of January, Digix marked a pivotal moment for its ecosystem. Following the casting of votes by its community of DGD holders, the majority of DGD holders voted for the dissolution of DigixDAO and to burn the remaining DGD in circulation, returning prorated amounts of ETH to token holders according to their DGD holdings.
DigixDAO was created in March 2016. The launch in 2019 materialized a long-standing vision of democratizing access to DGX gold tokens on the blockchain, as well as a commitment to the decentralized governance of the broader Digix ecosystem to allow anyone to effectively seek funding to build projects around DGX on the DigixDAO platform.
Since then, more than 50 projects have been submitted to the DigixDAO platform. Some of the key projects include NeutralG—a $4 million USD project passed on DigixDAO that aims to address liquidity issues with DGX, BullionIX—a platform to create innovative gold-backed non-fungible token (NFT) where users can mint an NFT with their DGX, and SeSocio.com—a leading crowd investments company aiming to achieve true democratization of investments, added the DGX token to their website, enabling thousands of people in historically unstable economies in Latin America to access the security and reliability of tokenized gold. Other notable projects include marketing, community management, uniswap liquidity, exchange integration, and on-ramp off-ramp projects.
The dissolution of DigixDAO is impartial to DGX and Digix. DGX and Digix will continue to remain.