Cryptocurrencies: 2091 / Markets: 13145 Market Cap: 24h Vol:
Digix DAO (DGD) Rank 59
$59.791584
Digix DAO (DGD) Rank 59
Website Twitter
2,000,000 DGD

Digix DAO (DGD)
Digix DAO (DGD)
DGD

Digix DAO (DGD) Price
$59.79

Digix DAO (DGD) 24h Vol
$508,860

Digix DAO (DGD) Market Cap
$119,583,169

Digix DAO (DGD) Circulating
2,000,000

Full Name
Digix DAO (DGD)
Symbol
DGD
Algorithm
BTC Price
0.0092975812 BTC
BTC Market
18,595 BTC
BTC 24h Vol
79 BTC
Total Coins Mined
2,000,000 DGD
1h
-1.81 %
24h
5.56 %
7d
7.54 %

Charts



Description

Description


Digix DAO is a new form of cryptographic asset in that it is a Decentralised Autonomous Organisation or DAO for short. DAO are basically Companies written in code that are there to perform a set of functions with holders of the tokens voting in relation to the number of tokens they hold. 

The Digix DAO gives users the right to profits in the trading of Digix tokens (DGX) which own the right to gold stored in vault in Singapore. So if people trade 20 gold bars per day - the Digix DAO token holders will have the profits of the commission from those trades distributed equally amongst themselves. 

Full Name Digix DAO (DGD)
Start Date N/A
Algorithm N/A
Proof Type N/A
Website https://www.dgx.io/
Twitter @DigixGlobal
Facebook N/A
Reddit N/A
Block Number N/A
Block Time N/A
Block Reward N/A
Total Coins Mined 2,000,000 DGD
Previous Total Coins Mined N/A
Net Hashes Per Second N/A
Technology

Technology


The DAO token is built on ethereum. 

The ICO - or initial coin offering - raised $5.5million to acquire the 85% of the DGD tokens. 

Features

Features


Digix DAO is a "Decentralised Autonomous Organisation" - DAO's are a nascent idea and are therefore not a fully proven concept. The Digix DAO tokens give holders the rights to vote on how funds earned by the DAO are spent and act like shares in a traditional Company. 

The DGD tokens give users the right to earn profits from the trading of DGX tokens - which are tokens backed 1:1 with a gram of gold. The DAO or DGD tokens earn a commission fee based on the number of trades of the DGX tokens. holders of the tokens can vote for 

There are costss for the DAO so headline commission is not equal to profit. The cost come in the form of storing the gold and auditing its veracity. This is where the role of voting rights come in as holders of the tokens can vote who they want to audit the gold. 

If the DAO runs out of funds the founders can propose to raise more tokens in an offering which requires a special majority of voters to agree to. 

The initial offering raised $5.5million for 85% of the tokens. The other 15% were rewards for developers and founders - a premine of sorts.  

ICO Details

ICO Details


Digix, a gold-tracking asset on the Ethereum blockchain, which structured the company as a Decentralized Autonomous Organization raised its funding cap of $5,500,000 in under 12 hours. Digix is building a platform for trading gold-backed tokens on the Ethereum blockchain. The company is based in Singapore, and will store physical gold for each token issued on Ethereum. There are fees charged for storage at 0.39% per annum, similar to Gold ETFs. However, the big advantage of Digix tokens over gold ETFs will be its global nature and ability to divide the shares in order to facilitate micro-transactions.


465,134.95 ETH ($5,500,000) was raised from 675 addresses which puts the average investment size at $8,148. The total was reached in 12 hours.

ICO Status Finished
Token Supply 2000000
Start Date 2016-03-30
End Date 2016-03-30
Fund Raised (BTC) 465,134.95 ETH
Fund Raised (USD) 5500000
Start Price (USD) 3.24
Security Audit Company N/A
ICO Legal Form N/A
ICO Jurisdiction Singapore
Legal Advisers N/A
Blog N/A
White Paper https://dgx.io/whitepaper.pdf