Digix Gold, or DGX, is a prime example of a gold-backed commodity-backed stablecoin. It is essentially an ERC-20 token that is linked to actual gold. The Digix Distributed Autonomous Organization keeps gold reserves and associates one DGX with one ounce of gold. Separate tokens are in charge of producing the DGX token and maintaining the identification of the gold bar to which it is linked.

The Proof of Asset token is managed by a smart contract that is included in the creation of the DGX token. Any DGX holder may exchange their DGX for the specified weight and value of gold bars. There are currently around 200 million DGX tokens in circulation, and the stablecoin intends to expand beyond a single Singapore vault.

https://digix.global

Digix Gold (DGX) is a digital asset that represents ownership of physical gold securely stored in vaults. Built on the Ethereum blockchain, DGX is a type of stablecoin where each token is backed by 1 gram of gold, providing a transparent and verifiable link between the digital and physical worlds. The gold backing DGX is stored in accredited vaults and subject to regular audits, ensuring its authenticity and quantity. DGX allows users to invest in gold without the need for physical possession, offering a convenient and blockchain-based solution for those seeking exposure to precious metals. The token's value is tied to the real-time market price of gold, providing stability while retaining the benefits of cryptocurrency technology. This combination of blockchain and precious metal ownership makes Digix Gold an innovative and secure asset within the broader landscape of digital currencies.