DigixDAO was a part of Ethereum’s first crowdsale, where DGD was created as a part of a bright decentralized future in the terms of Ethereum economy. The crowdsale that was organized a while ago went pretty well as Ethereum managed to sell 5.5 million dollars of DGD in a period of only 12 hours. DigixDAO as such exists on Ethereum’s blockchain platform in form of a system called Digix. Besides from DigixDAO, Digix has another token within its system – DGX. DGX represents standard LBMA gold reserves. When owning one DGX, you actually own 1 gram of 99.99% LBMA gold. The gold is being kept safely in vaults and every DGX owner, owns gold as well. The ownership is legal and cannot be retrieved unless DGX tokens are sold to another owner. The system uses PoA, which is actually a Proof of Asset, which further confirms that the gold represented by DGX is owned by a DGX owner. When all other coins and tokens were going down two days ago, DigixDAO stood resistant and remained in the green while trading at over 315$ per one unit the entire day while all other currencies except for DGD, Tether and Dent remained up with initial rises in price that made them a true success of the day.
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