Digix Gold Token, DGX, is available on AirSwap!
DGX, the gold backed token on Ethereum, where 1 DGX represents 1 gram of Gold, is currently live for trading on AirSwap, the Ethereum-token swap protocol.
What is DGX?
DGX is an ERC-20 token that was launched in April 2018 by Digix. It represents physical gold on a proportional basis, with 1 token representing 1g of gold bullion from London Bullion Market Association-approved refiners.
DGX tokens are issued and minted through a suite of proprietary smart contracts that Digix has developed, called the Proof of Provenance (PoP) protocol. The PoP is an on-chain asset and supply chain management system which utilises Ethereum and IPFS, tracking the movement of the asset (gold in the primary use case) from the vendor to the independent third party custodial vault that Digix works with in Singapore. Only upon the delivery of the gold bullion to the custodial vault are DGX tokens issued and minted on the Ethereum blockchain. This ensures that there is always a total weight of gold in the vault equivalent to the total supply of DGX tokens. The gold bullion is subject to verifications at the point of deposit, as well as at quarterly and annual audits by independent auditors.
DGX tokens can be recast for redemption of physical gold cast bars in Singapore, in denominations of 100g and 1kg.
Digix aims to create a stablecoin that is backed by a real world asset that can effectively hedge against the price volatility of the cryptocurrency world.
You can start purchasing DGX via Metamask, Ledger or Trezor on the AirSwap platform via the link here: https://www.airswap.io/trade
For more FAQ on AirSwap, please view the link here: https://www.airswap.io/faq
AirSwap, built on the Swap protocol, is a peer-to-peer trading environment that harnesses the power of blockchain and aims to be the premier trading environment for users who wish to swap their ERC20 tokens.
Digix is an asset tokenisation platform on Ethereum, with physical gold on the Ethereum blockchain being its first use case.
Digix created the Proof of Provenance Protocol (PoP) to track physical assets on the Ethereum blockchain. Currently, the entire asset explorer of gold bullion is publicly accessible by anyone on the Digix Marketplace.