Dev Updates - 18 Oct
- Recasting DGX into gold bars
- DigixDAO Updates
Recasting DGX at The Safe House by Silver Bullion
Tuesday, 15 of Oct — Owners with DGX tokens have the option to recast their tokens into gold bars. Depending on the number of DGXs they are holding, they can recast the DGX tokens into 100g or 1000g gold bar.
An owner of DGX tokens recasted his DGX this week and collected his 100g gold bar at The Safe House by Silver Bullion.
On a side note, 1% of the total gold bar weight will apply as recasting fee when recasting DGX. In this case, the fee to recast 100g gold bar was 1 DGX.
How to recast DGX
The option to recast is available on your DigiMarket Asset Explorer on https://digix.global/app.
Upon successful recasting, users will get an automated notification from Digix that lays out the steps for physical redemption of the gold bars:
- Users will have to be physically present at the vault within 30 days of clicking to recast;
- Users will have to have their official and valid identification documents with them at the point of redemption;
- Users will have to produce an updated and valid address proof at the point of redemption; and
- Please inform us of your preferred date and time for the physical redemption and we will advise on the subsequent steps.
Further documents or information required, if any, will be advised on a case by case basis. Please be informed that the physical redemption process will only be complete, subject to compliance with AML/CFT regulations set out by the Monetary Authority of Singapore and/or other regulatory obligations of our custodian.
Check out our FAQ on recasting here.
DigixDAO Updates
We are 23 days into Q3 with 811304.349 DGD staked and 51335.8532 ETH (US$8.87M) available for current to fund the current/new proposals.
Interested in submitting a proposal to receive funding from DigixDAO?
You can submit your proposal to DigixDAO to help DGX. Click here to find out how you can join the community.
To help you get started, we have created a guide to DigixDAO and FAQ too.
Notable New Project
One of our community members has submitted a proposal to have DGX added into a well known decentralized exchange, Uniswap. Uniswap is a protocol for an automated token exchange on Ethereum.
It is designed around ease-of-use, gas efficiency, censorship resistance, and zero rent extraction. Making it useful for traders which require guaranteed on-chain liquidity. If this project passes, the total DGX supply and its liquidity will be increased.
This project is worthy of mention as it uses DigixDAO to create an innovative, quantitative use case of DigixDAO. If the project passes, review milestones are used to either keep the project going on a continual loop to keep the project and liquidity going or to end it.
Do check it out at here.
We would love to hear from you!
At Digix, we appreciate feedback from the community, so do drop us a note at marketing@mailer.digix.global or join our channels below:
