DigixDAO (DGD) provides a use case for tokenizing and documenting physical assets through the Proof of Asset (PoA) protocol. The PoA protocol uses Ethereum and IPFS to track assets along their chain of custody. This allows open, publicly available verification that an asset exists, without a centralized database. Digix also offers an API that lets other applications be built on top of its asset-tokenization service.
DigixDAO tokens are issued through the Minter smart contract. Each DGX token represents 1 gram of gold and is divisible down to a minimum of 0.001 grams. DGX tokens are issued in exchange for each PoA card sent to the Minter smart contract. For example, after sending a PoA card representing 100 grams to the Minter smart contract, the user receives 100 DGX tokens back.
