Update on the Launch of Digix Marketplace — April 10 2018
First of all, a very big thank you all for following us in our journey to release DGX 2.0.
We have soft launched our product on April 8. The reason for the lack of fan fare at this point was intentional; to ensure that any potential bugs or logistical / operational issues that may crop up be quickly addressed.
We have proceeded to increase the volume that kyc-approved users can purchase per day at our marketplace to a greater limit. This has now been increased from 10 DGX to 101 DGX per kyc approved user.
Proof of Provenance — Digix’s MVP
Below is a guide to the Proof of Provenance process. We hope that this could pave the way for increased transparency in the tokenization process for real world assets on the blockchain.
Our marketplace asset explorer, the data on the inventory of gold bars, are not being kept on a private database and hence are immutable information.
For instance, every asset document is kept on IPFS.io, a decentralized database and so are immutable and permanently stored. We provide the IPFS links for every document on the asset explorer(example below).
You can now click into the information displayed above. It will link you to the relevant contracts on Etherscan to demonstrate that the data displayed here are all pulled from the blockchain, not via a private database to ensure transparency and auditability.
Notice about the Demurrage fees to be collected:
We are keeping demurrage fees to zero (0%) for the first year of DGX’s existence to encourage adoption.
We have deployed a reporter contract to calculate how much DGX would have been expected to be collected for this year if demurrage was turned on at 0.60% per annum.
The expected cumulative balance will be displayed for the year. Once DGD governance is live, Digix will send back 0.20% per annum on all DGX to DigixDAO, as part of the rewards to DGD token holders that actively participate in the DigixDAO voting framework.
Please note that the cumulative demurrage balance on line no.5 is in nano grams → 1 gram = 1 000 000 000 (9 zeros).
For buyers of larger amounts and corporate users:
Please contact us separately to raise the limits of your purchases, our sales representative will assist you in opening an account.
Next steps and additions to our suite of gold products:
1 kilogram Gold Cast Bars to be added to the Asset Explorer
DGX holders will soon have the option of redeeming 1 kilogram gold cast bars instead of only 100 gram gold cast bars for larger purchases
DGX 1.0 Migration
- We have already sent DGX 2.0 tokens to all holders of DGX 1.0 today.
- Please check your wallets and do contact us if you require further assistance on retrieval or guide
DigixDAO Governance
The Digix Dev Team has started the technical specification for the DigixDAO Governance. We are currently exploring the idea of having DigixDAO Governance Master Nodes. This will allow for realtime proposal and voting without the need for ETH which we feel is a barrier to participation which leads to lower than desired voting quorums. Further updates will come in the next update.
