DigixDAO

DigixDAO(DGD)

DGD is the governance token of DigixDAO platform. It is used to vote on proposals, and receive transaction fees. Digix Gold Tokens (DGX) is a token backed by 1 gram of gold. Golds held in Singapore vault, audited by 3rd party, recorded on blockchain and the operation is run by a DigixDAO. DGX designed to provide a stable cryptocurrency
  • Market Cap
    $293.888.000
  • Price
    $146.944
  • Category
    Governance
  • Origin
    Singapore
  • Team Size
    15-25
  • Initial Release
    30/03/2016
  • 10-8 High Potential
  • 8-7 Potential
  • 7-6 Considerable
  • 6-5 Risky
  • 5-0 Scam
Satoshi Rating
  • Product Ratings
    6.8
  • Team Ratings
    6.6
  • Execution Ratings
    6.7
Product
  • The need for the product ⓘ

    8
  • Total addressable market size ⓘ

    9
  • Product/market fit ⓘ

    7
  • How is the product compared to existing solutions? ⓘ

    7
  • How difficult is to make the product? ⓘ

    6
  • Could this product scale? ⓘ

    6
About Product
Depending on the daily trading volume of gold-backed tokens, DigixDAO token users receive transaction fees as income. The product and the DAO was first of its kind on Ethereum blockchain. We find stable coins quite useful, however, transparency and legitimacy of them often questionable.
Team
  • Team's previous experience ⓘ

    7
  • Does the team have a clear vision? ⓘ

    8
  • Is technical team sufficient for building the product? ⓘ

    7
  • Is the team active? ⓘ

    8
  • Is the team size big enough? ⓘ

    6
  • How is the team growth? ⓘ

    6
About Team
There are mainly three entities; Digix the company, DigixDAO and DGD token holders/traders. Development is done with community and the team, money that is raised during ICO controlled by the DAO and token holders either participate on DAO and collect fees or speculate on the price and trade the token. As of 2018 Q1, the governance structure is not one entity. There is the DAO and the private company Digix. It is a new thing and a bit complex than we like. But if their incentives aligned the DAO can take over completely.
Execution
  • Could this team get the product into a market? ⓘ

    8
  • Could they do it in time? ⓘ

    8
  • Did they meet previous deadlines? ⓘ

    8
  • Is the marketing strategy sufficient? ⓘ

    6
  • Team’s previous achievements ⓘ

    7
  • Strategic partnerships ⓘ

    7
  • Current market size ⓘ

    6
About Execution
Like most cryptocurrencies, the success of the DAO token depends on adoption DGX token. MakerDAO and Request Network partnerships might play an important role in this.
Editor's note

DAO is new kind of animal. You should do a detailed analysis before investing in governance tokens. Unlike other tokens, these have voting uses. Medium page of digix updated often and discord channel is more active than other social media platforms. We think that alternatives to Tether are necessary at this point.

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Initial Rating: April 24, 2018

Last modified: June 8, 2018