Olympus Labs and Digix Partner to Bring Tokenized Gold DGX into the Olympus Ecosystem
(PRWEB) May 05, 2018 -- Cryptocurrency users will be able to purchase digital gold straight from the Olympus app by buying DGX tokens from Olympus Labs, thereby being able to hold a ‘traditional’ asset-backed token using the latest blockchain technology.
DGX will be included in the Olympus crypto index, allowing the crypto users to purchase DGX as part of a larger portfolio with a single tap. The portfolio will include DGX, MOT, KNC, and other tokens supported by Kyber Network, giving cryptocurrency users the ability to easily acquire a diversified portfolio of crypto tokens. The importance of including DGX in an index is that it serves as a relatively uncorrelated asset to the other tokens in the portfolio, potentially reducing overall portfolio volatility, which may protect portfolio values during crypto sell-offs.
With DGX integrated into the Olympus Protocol, DGX tokens can now be included in any custom crypto indexes on the Olympus platform, whether made by the Olympus team, or third-party developers using the Olympus protocol.
“We are very excited to partner with Digix, the first few blockchain companies pioneering on Ethereum and creators of DigixDAO, to push the boundaries of blockchain technology and the cryptocurrency revolution. We are honored to be working with such an amazing and forward-thinking team, and we can’t wait to see what amazing financial products and D-applications will come from our partnership!” said Kai Chen, CEO, Olympus Labs.
DGX is a real-world asset-backed stablecoin, rather than a fiat-backed one, ensuring stability not only during cryptocurrency market turmoil, but also during ‘traditional’ economic slowdowns. Having a non-fiat backed stablecoin being accessible to Olympus clients and developers would assist in hedging risks and provide the cryptocurrency trading market with a powerful alternative to traditional fiat pairs.
“We stick to our ethos in creating a gold backed ERC20 token, namely DGX, as the de-facto stablecoin on the Ethereum blockchain ecosystem. With it being accessible through new dApps such as Olympus Labs encourages adoption and awareness of its stablecoin properties.” KC Chng, CEO, DigixGlobal
####
About Olympus Labs:
Olympus Labs is a protocol for the decentralized creation of cryptocurrency financial products with a one-stop-shop mobile application that offers investors the financial products built using the Olympus Protocol.
The Olympus Ecosystem integrates financial product creators, third-party applications, exchanges, and price oracles, and we encourage third-party developers to build their own financial products and D-apps using Olympus Protocol.
About Digix:
Digix is an asset tokenization platform on Ethereum, with physical gold on the Ethereum blockchain being its first use case.
Digix created the Proof of Provenance Protocol (PoP) to track physical assets on blockchain and the DGX token on a fully allocated basis, on which 1 token represents 1 gram of gold bullion from LBMA-approved refiners stored in the vaults in Singapore. The entire asset explorer of gold bullion is publicly accessible by anyone via the Digix Marketplace.
Digix and Olympus Labs believe that such a partnership is timely in propagating a safe haven asset into the crypto-financial ecosystem.
####
For more information about Olympus Labs:
To learn more about the project, please visit http://www.olympuslabs.io.
To invest in the project, you can buy MOT on Kyber and Olympus app, as well as on OKEx, Bibox, FuBT and BTCGO
To support the project, you can join us on social media:
Telegram chat: https://t.me/olympuslabs
Twitter: twitter.com/olympuslabsbc
Wechat: OlympusLabs
For more information about Digix:
Please see our website: https://digix.global
Carylyne Chan, Olympus Labs, http://olympuslabs.io, +86 13020159545, [email protected]
Share this article