DigixDAO is a Digix Decentralized Autonomous Organization which represents a decentralized group of participants. This is a platform dedicated to the tokenization of the real assets using blockchain technology to represent physical gold with tokens.
The tokenization process is performed on the Ethereum blockchain. The smart contract platform excludes possible human faults and risks of fraud which is often present in the supply chain of gold in the real world. DigixDAO has a purpose to create a self-organizing community on the Ethereum blockchain with the token holders actively involved in making decisions about the development of the Digix Global Ecosystem.
There are two different tokens issued by DigixDAO - DGX and DGD. DGX cryptocurrency represents 1g of gold and can be converted into real gold at any time. In other words, this token proves that you have a certain amount of gold stored in Singapore, where the company is located. DGX owning and transacting cost fees.
DGD is an Ethereum-based ERC-20 governance token. It is not backed by gold, but holders of DGD can participate in the project’s development. They are encouraged to offer original ideas and proposals to build the Digix and DGX ecosystem. So DGD token may be regarded as a kind of DigixGlobal shares.
DGD holders may obtain DGX reward participating actively in the platform governance. The total and circulating supply is 2,000,000 DGD. Being an ERC-20 token, DGD can be stored on all Ethereum-compatible wallets such as the popular MyEtherWallet, and even hardware wallets like Ledger Nano S and Trezor for security-oriented investors.
DigixDAO started its ICO on March 29, 2016. The team managed to raise the needed hard cap of 5,500,000 USD in ETH in only 12 hours as at that time Ether amounted to $11,88. 1,700,000 tokens were sold during the public sale which made up 85.0% of the circulating supply. The remaining 300,000 tokens (15%) were reserved for the Digix team. It was the first ICO on the Ethereum network, and it was a great success, which caused the interest of serious players in this market.
In November 2017, DigixGlobal raised 1,3 million USD in Venture Funding from Global Brain and Fenbushi Capital.
DGD is traded on most of the huge exchanges, such as Binance, Huobi, HitBTC, OKEx and many more.
Digix is a project led by DigixGlobal, a legal company located in Singapore. DigixDAO is responsible for Digix governance. It was founded in 2014 in Singapore by Kai C. Chng.
The leadership team consists of Kai C. Chng (CEO and co-founder), Anthony Eufemio (CTO and co-founder) and Shaun Djie (COO and co-founder).
Kai C. Chng’s was an EMFX trader in a global investment bank before starting this project. Anthony Eufemio studied at the University of Southern California, and Shaun Djie was also the ICO Advisor at Indorse.