DGX Overview since April 8 (soft launch)

Here is a quick update on the current status of DGX since the soft launch on April 8.

Please note that all information are read and pulled from the blockchain and we have displayed them on our UI for ease of access. Users or interested parties can always click on the relevant information to be linked to the blockchain explorer to double check any of the numbers presented below.

Definitions

Available:

We have set a limit to sell 4650 DGX tokens per day. The number reflected in this field denotes the amount of DGX we offer in a 24 hour period.

Purchased:

The purchased number above depicts the number of DGX tokens purchased in a rolling 24 hour period.

Total Marketplace Purchases

As of 24 April, there have been 138 purchases from the marketplace to date. A total of 12900 DGX have been minted via the Proof of Provenance process with more on its way.

We have sold approximately 7000 DGX tokens during this period. This can also be confirmed on etherscan.

Taking a look at our Asset Explorer page, it provides summary numbers of the demurrage fees expected to be collected*, recast fees for physical redemption of bars, and transfer fees so far.

From the screenshot above, we can see that to date, there had been a request to recast a 100g bar (100 DGX) with 1 DGX collected as the recasting fee. This can also be cross-verified from records on etherscan.

Demurrage fees to be collected*:

This amount reflects the amount of Demurrage fees that would have been collected in the first year of Digix’s launch and reported via a smart contract.

To note, there are no actual demurrage fees collected on DGX tokens this year as it is set at 0 to increase DGX adoption. However, once governance is live, Digix will take a snapshot of this expected number and direct 20bps of the 60bps per annum of demurrage as rewards into DigixDAO.

Compliance hire

Geoffrey is a Risk Management and Financial Crime Compliance professional who spent most of his early career in a global Private Bank before joining Digix. He graduated from National University of Singapore with a degree in Political Science.

DigixDAO Governance

Our smart contract development team has been chugging away at creating the DigixDAO governance system.

Rohit has written a short piece on the voting game in daos which you can read abit more on his personal medium blog. This was a research piece written to explore what the correct quota would be for proposals and voting in relation to DigixDAO token holders.

https://medium.com/@theHungryMusician/the-voting-game-in-daos-7f989ff68712

We will release a separate blog post focusing on DigixDAO governance shortly after this update, thank you.