Flipside Daily Mover: DGD
A coin per day, making big moves
DGD Gains Momentum Amid Mounting Partnerships
July 12, 2019
DGD Developer Behavior is up 23.79% over the last 30-days. FCAS responded with a 66-point (14.51%) spike, and User Activity is up 34-points (9.37%). Market Maturity fell 102-points (-15.25%) along with a -31.58% drop in price.
The Blockchain Gold Standard
DigixDAO is the governing organization of the Digix Global ecosystem, an initiative focused on establishing a new cryptocurrency backed by actual gold, and ultimately a platform for the tokenization of real-world assets. The project has two tokens, the first of which is a governance token, DGD, used to vote on proposals in the DigixDAO with the main goal of increasing adoption of the second token, DGX. DGX is quite literally the “gold standard for value exchange in the Ethereum ecosystem”, meaning each token represents exactly 1g of gold. Tokens can be redeemed for 100g multiples of physical gold in Singapore.
Project fundamentals have been on the rise as of late, driven by a significant spike in development following the launch of DGX on PundiX in late May. Through June, the team continued to increase their development output, which coincided with a number of key partnership announcements, including: Whisp, Tangem, SeSocio, and Constant. Additionally, the team is gearing up to launch their first project, DGX Treasure Hunt, next week.
🌶️ Hot Take
While much of the attention Digix Global receives is focused on its gold-backed DGX, the real story here is what the development of this technology means for the long-term prospects of tokenizing real-world assets. Adoption will be gradual but allowing users to grow comfortable with tokenization via a medium (Gold) that has been used in a similar fashion historically, is fundamental in building the conceptual bridge between the traditional and blockchain worlds. Coupling these efforts with a Decentralized Autonomous Organization is an intriguing amalgamation of forward-thinking constructs, and will pave the way for other bold initiatives that drive the crypto frontier forward.
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