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ShapeShift cryptocurrency exchange adds support for DGD and DAO tokens

Cryptocurrency exchange ShapeShift has announced its support for DAO (Decentralized Autonomous Organization) and DGD (Digix DAO) tokens on its platform, taking the total digital currency offerings on the platform to 32.

In a Reddit post, ShapeShift announced:

“The DAO is now live on www.ShapeShift.io along with DGD (Digix DAO token). Buy or sell these assets with more direct pairs than any other exchange. Want to trade your Doge to DAO.... much possible!

“No account needed, no sign up, no friction.”


 


The DAO tokens

The DAO, or Decentralized Autonomous Organization, leverages smart contracts on the Ethereum blockchain to enable anyone, anywhere in the world to create their own autonomous organization. The DAO crowdsale has been highly successful and has broken all records. The creation phase is now over and more than $132 million has been raised.

Following the success of the crowdfunding drive, several cryptocurrency exchanges have announced their support for The DAO tokens including Poloniex, BTC Markets and more recently Kraken.

Digix DAO Tokens

DigixDAO is an organization that aims to create a new gold standard digital payments system on the Ethereum network. DigixDAO Token (DGD) is an Ethereum based asset that represents a portion of the DigixDAO (similar to shares). The DigixDAO cryptocurrency protocol is used for trading DigixGlobal’s gold backed digital tokens (DGX) on the Ethereum platform.

DGX or Digix Gold Tokens are Ethereum-based Gold Tokens that are backed 100% by gold and can be used to redeem physical gold. Each DGX is equivalent to 1 gram of gold and its value at any time is same as that of the equivalent amount of yellow metal. The platform charges a transaction fee of 0.13% per transaction, with a cap of 1 DGX per transaction. DGX holders can also redeem their digital gold token on the Digix platform for the equivalent in gold whenever they want.

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