Firstly let me say that all comments below are simply my thoughts and should not be taken as investment advice.
I'm sure most of us are watching coinmarketcap today and wondering why on earth we have a sea of red with the exception of one shining green beacon, DGD.
In order to answer this we must know exactly what DGD is and what it will offer once they release their 2.0 platform over the next few months.
What is Digix
Digix aims to create a tradable, divisible stable coin on the Ethereum blockchain called DGX. DGX tokens will be backed by one gram of LBMA gold bullion physically held in a vault in Singapore, with digital Proofs of Asset held on the blockchain. Users can buy bullion from Digix and have DGX tokens created, or they can send DGX tokens to Digix and redeem physical gold bullion. Digix will reward ICO participants with DGD tokens, which are used for governance and rewards.
See here for Digix Whitepaper https://digix.global/whitepaper.pdf
THE Digix ICO:-
DigixDao (DGD) was the first token to carry out a successful Ethereum ICO way back in on March 30th 2016. a $5.5 million hard cap was placed on the sale. Ethereum was about $11.50 per ether when the sale began, one DGD sold for $3.23, and the cap was reached in approximately 12 hours. 1.7 million tokens were sold, with 300,000 tokens reserved for the team and early investors.
Participants who successfully sent ether to the crowdsale address would be given DGD in return. ICO investments greater than $15,000 received a proposal badge, a third token.
At this point I really do not want to go much into the whole analysis of DGD as that has already been posted on Steemit by @protegeaa (links to his post at the bottom)
The Question is WHY IS DGD THE ONLY COIN ON THE UP?
I believe there are 3 reasons for the incredible growth of the coin.
Firstly, let's remember that DigixDao is a Decentralised Autonomous Organisation meaning that all the Ethereum raised some 350,000+ is held in a smart contract and cannot be used by the Digix team unless a consensus of token holders vote positively on a proposal. This means that Digix already has a company asset of approximately 315,000,000 USD before you even factor in their business model! To this point Digix had been horrendously undervalued as it was trading well below the worth of its assets.
Secondly, crypto desperately needs a stable currency. We had tether but let's face it, most people only use tether becasue of lack of choice. When I wish to hold wealth I do not want to jump back and forward into fiat and would rather stay in another crypto pegged to something stable, with Digix (DGX) token you will be able to store your wealth in gold, REAL GOLD. Verified and Audited with no monkey business. Given the uncertainty of the tether platform I am quite sure the demand for Digix gold will be HUGE once the platform is released.
Finally for reason 3 I use a clip from protegeaa'spost ' DGD are Digix DAO (Decentralized Autonomous Organization) tokens, which are used for governance of the ICO funds held by the Digix DAO. The first product that Digix will release is a gold backed token, DGX. DGD and DGX are both fully tradable on the Ethereum blockchain, allowing gold to be used as a currency.
DGX tokens charge 0.13% for on chain transfers. DGX holders pay an annual 0.6% fee for the storage costs associated with storing their gold. One third of that, or 0.2% per annum, goes to the DGX reward pool that pays DGD holders for voting.'
So in summary...
- DigixDao is still undevalued as a business when you consider the company assets it holds
- DigixDao could take the crown of tether as the legitimate stable currency on the blockchain
- Anyone holding DGD tokens will be paid rewards in DGX i.e. will be paid in Pure Gold.
I urge you all to read the white paper and ask yourselves one question... at times like these would you consider buying easily attainable, tradeable gold on the ethereum blockchain? If the answer is yes, you should have a serious look at Digix, - Only 2,000,000 tokens in circulation
- A solid well respected team
- One of the most highly anticipated projects on the ethereum blockchain with a release just around the corner.
For more information you may want to view this post:-
https://steemit.com/ethereum/@protegeaa/deep-dive-dgd-digix-dao
Interesting
I will follow you to see your future posts!
Congratulations @mazzaneo! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Semi Finals - Day 1
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Congratulations @mazzaneo! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!