About Digix Gold Token:
The fundamental purpose of this token is to facilitate the property and liquidation of gold assets and additionally come up with a more stable option for the cryptocurrency market, as well as make it easier to buy gold through cryptocurrency in a way that there's no need to worry about the issues of having it physically. Depending on the amount of gold you have, it would be the amount of token you will get. Every token DGX will always signify 1 gram of gold that can be divisible to 0.001 grams.
The Ethereum's blockchain will carry these operations on, making them immutable, transparent, and secure. This stablecoin has 97 thousand coins in circulation with a maximum quantity of 100 thousand. The most active market operating with this cryptocurrency is Indodax. Unfortunately, you can't buy this cryptocurrency with fiat money, but you can do it with Bitcoin or Ethereum through Binance or Coinbase.
What is the Proof of Asset?
A smart contract that receives cards of proof of assets (PoA) creates each token per gram of gold.
The Proof of Assets is a Digix protocol that assured an asset's presence and property on the decentralized ledger. In this circumstance, the asset is gold, and the blockchain with the record is the Ethereum's one.
This process is responsible for creating the assets cards certified through digital firms on the custody chain, consolidated by the provider, the guardian, and the precious metal supervisor. The proof of purchase and the income receipt that are registered on the blockchain validates every generated token.
What makes Digix different?
Instead of the company as a whole, the client's property, it's a priority for Digix. Moreover, the enterprise has it's gold ingot as a feature. With your investment, you can acquire gold bars from LBMA with their respective certificates.
Also, having gold in token form allows the holders to divide it into parts, enabling micro-transactions, and move the gold across borders.
In the past, Digix used to have two tokens, DGX (Digix gold) and DGD (Digix Dao)
The DGD tokens were exchangeable for DGX tokens after fees of transactions have been deducted, but in January of 2020, the co-founder of Digix announced:
"Following the casting of votes by our community of DGD holders, the majority of DGD holders have voted for a dissolution of DigixDAO and to burn the remaining DGD in circulation, returning prorated amounts of ETH to token holders according to their DGD holdings."