About this page
This page graphs the on-chain volume for the Digix gold token (DGX). It queries the etherscan API for DGX on-chain transactions.
What is DGX?
DGX is a gold-backed ERC-20 token built on the ethereum blockchain. Each token represents 1 gram of 99.99% LBMA standard gold and secured in safehouse vaults.
What is DGD?
DGD is the governance token for DigixDAO. There are 2,000,000 DGD in existence.
What is DigixDAO?
DigixDAO constitutes the holders of the DGD token. The DGD holders earn rewards for voting in the decentralised governance of DigixDAO. The decisions are concerned with DGX and any future asset backed tokens created by Digix, and govern how the ETH in the DigixDAO multi-signature contracts will be spent. The ETH was raised in one of the first ICOs on the ethereum network in 2015.
DigixDAO is decentralised by the fact that DGD tokens can be held by anyone in the world, and the contracts are open-source and on the ethereum blockchain. However, DigixGlobal (the company) comes as an inseparable entity to DigixDAO. At the time of writing, DigixGlobal have done all the work, navigating the legal system, releasing the flagship product (DGX) in April 2018, and marketing / networking with other projects in the ecosystem.
DGD rewards for voting
DGD holders who opt to lock-up their DGD in the DigixDAO governance contracts on a quarterly basis, are enabled to participate in decentralised governance voting to earn rewards. The rewards come from a reward pool into which the 0.13% transaction fees from DGX accumulate, alongside a 0.2% demurrage fee. (The total demurrage is 0.6% but 0.4% goes to DigixGlobal.)
In equation form, DGD holders earn quarterly rewards equal to:
DGX earned = ( DGD locked ) * 0.0013 * (DGX quarterly volume) / ( Total DGD locked )
where ( DGD locked ) is the amount of DGD an individual decides to lock-up for voting, and ( Total DGD locked ) is the total number of DGD locked up that quarter, e.g. ( Total DGD locked ) = 1,000,000 if exactly 50% of DGD holders lock-up their DGD that quarter. During the first year the demurrage for DGX is switched off.