Digix, the first asset-backed digital gold token platform took a major step to drive the mass adoption of tokenized assets. Explicitly speaking the revamped marketplace and online platform might steer the change.
With the recent upgrade, the project intends to meet the pressing demands of digital gold retail investors across the globe. And that too in the most simplified way. The platform now comes across as an intuitive interface that is expected to massively increase tokenized asset accessibility. This promises to bring down the entry barrier for both first-time and seasoned crypto asset investors.
According to a press release, Co-Founder and COO Digix, Shaun Djie believes the current crypto, and digital asset platforms lack intuitiveness. This poses as an entry barrier for an ordinary user. Effectively hampering the growth of the entire industry. He emphasizes, to make the most out of the digital/crypto-asset ecosystem, a user must have access to a highly intuitive platform.
Here is what changed on Digix
The newly revamped platform went live on February 10th for investors across the globe. Furthermore, the focus has been to simply DGX (native token) processing, management, and purchasing.
Consolidated Administrative Dashboard for users
Digix has consolidated all its prime features in an admin dashboard. This makes it easy for the DCX token holders to manage their tokens. Additionally, the users can update their wallets and personalize the dashboard as per their convenience.
Un-complicates the token purchase
With the improved marketplace, the platform lifts the KYC restriction. It allows users to buy a limited supply of DGX without KYC. By circumventing the KYC process, the user can buy 10 DGX daily and a total of 110 DGX in a lifetime. Checkout the KYC policies in detail before making a purchase.
To remind readers, here is a detailed article by Altcoin Buzz about how KYC is being exploited by some players in the space.
Zero Demurrage Fee
Recently, Digix also deactivated the associated demurrage fee. So effectively the users do not have to pay the cost Digix bears to store and secure the gold backing the token.
As a pioneer in Singapore blockchain space, the project has been doing well since its inception in 2014. It utilizes blockchain to digitize physical gold bars for investment-grade gold bullions. Each DGX token is pegged to 1 gm physical gold approved by London Bullion Market Association. And this makes it easy for the micro gold accumulators to invest in gold.
The physical gold is secured in accredited vaults in Singapore and Canada. On top of that, physical gold is completely insured.
At the time of the press, each DGX is trading at a price of $49.51.
Last month, Digix faced some turbulent waters because of its second cryptocurrency DigixDAO (DGD).