Review on DigixDAO by Fanuel PORPORTY
What is DigixDAO?
The Digix Decentralised Autonomous Organization, better known as DigixDAO, aims to decentralize the physical raw materials industry by allowing consumers to symbolize gold and other physical assets on the Ethereum blockchain.
Holders of DGD tokens (which were issued at a public sale in March 2016) have the power to vote for proposals submitted to DigixDAO. In exchange for their participation in the governance of DigixDAO, these token holders are then rewarded with Digix Gold (DGX), a different token which represents 1 gram of gold.
A cryptocurrency listed in the Top 100 cryptocurrencies by market capitalization at the time of writing, DigixDAO is available on a number of cryptocurrency exchange platforms
Pros
- Rewards. DGX holders are going to reap big from DGX. They are going to claim rewards on transaction fees of DXG, which is currently at 0.13% of the balance sent.
- Badges. Those who sent over 15,000 USD during the crowd sale are set to receive the biggest rewards. They will receive a special proposer badge witch will allow them to submit their proposal directly to DigixDAO.
- Proposals. Once the proposal has been approved by other badge holders, voting will start and it will be open to all DGX holders. They can accept or reject your proposal on a secret chain ballot.
- A strong, dedicated team who have been together since before the launch of Ethereum.
Cons
- The gold price will have an impact on DGD (this can also be a pro!).
- It remains to be seen whether DigixDAO governance can be successfully implemented, solving governance in blockchain projects is notoriously hard.
