Olympus Labs signs a strategic sourcing partnership with Digix to bring tokenized gold in the form of DGX tokens into the Olympus ecosystem as part of its crypto index. Olympus will source gold tokens from Digix to bring stability options into their platform.

How the partnership will benefit crypto investors

Cryptocurrency users will be able to purchase digital gold straight from the Olympus app by buying DGX tokens from Olympus Labs, finally being able to hold an asset-backed token using the Ethereum Blockchain.

DGX will be included in the Olympus crypto index, allowing the crypto users to purchase DGX as part of a larger portfolio with a single click. The portfolio will include DGX, MOT, KNC, and potentially others, therefore giving cryptocurrency users the ability to easily acquire a diversified portfolio of crypto tokens. The importance of including DGX is that it serves as a relatively uncorrelated asset to the other tokens in the portfolio, possibly reducing overall portfolio volatility during crypto sell-offs.

With DGX integrated into the Olympus Protocol, DGX tokens can now be included in any custom crypto indexes on the Olympus platform, whether made by the Olympus team, or 3rd party developers using the Olympus protocol.

“We are very excited to partner with Digix, the first few blockchain companies pioneering on Ethereum and creators of DigixDAO, to push the boundaries of blockchain technology and the cryptocurrency revolution. We are honored to be working with such an amazing and forward-thinking team, and we can’t wait to see what amazing D-applications will come from our partnership!” Kai Chen, CEO, Olympus Labs

DGX is a real world asset backed stablecoin, rather than a fiat-backed one, ensuring stability not only during cryptocurrency market turmoil, but also during possible ‘traditional’ economic slowdowns. Having a non-fiat backed stablecoin being accessible to Olympus clients and developers would assist in hedging risks and provide crypto market with a powerful alternative to traditional fiat pairs.

“We stick to our ethos in creating a gold backed ERC20 token, namely DGX, as the de-facto asset backed token on the Ethereum blockchain ecosystem. It being accessible through new D-Apps such as Olympus Lab encourages adoption and awareness of DGX’s stablecoin properties and gold’s age old use as a store of value.” KC Chng, CEO, DigixGlobal

What is Olympus Labs?

Olympus Labs is a protocol for the decentralized creation of cryptocurrency products with a one-stop-shop mobile application that offer users the crypto products built using the Olympus Protocol.

The Olympus Ecosystem integrates app creators, third-party applications, exchanges, and price oracles, and we encourage third-party developers to build their own D-apps using Olympus Protocol.

What is Digix?

Digix is an asset tokenization platform on Ethereum, with physical gold on the Ethereum blockchain being its first use case.

Digix created the Proof of Provenance Protocol (PoP) to track physical assets on blockchain and the DGX token on a fully allocated basis, on which 1 token represents 1 gram of gold bullion from LBMA-approved refiners stored in the vaults in Singapore. The entire asset explorer of gold bullion is publicly accessible by anyone via the Digix Marketplace.

Digix and Olympus Labs believe that such a partnership is timely in propagating a safe haven asset into the crypto-ecosystem, allowing D-apps to benefit from the properties of a safe haven asset.

For more information, please see our websites:

Olympus Labs: https://olympuslabs.io/

Digix: https://digix.global