ShapeShift launches two tokens simultaneously: DAO and Digix DAO

Cryptocurrency exchange ShapeShift has announced that it has officially launched trading of DAO and DGD (Digix DAO) tokens on its platform. This brings the number of digital currencies supported by ShapeShift to 32. ShapeShift removed all digital currencies after being attacked not long ago, and has gradually added back the previous digital currencies since its return.

ShapeShift founder and CEO Erik Voorhees said ShapeShift was one of the first exchanges to support crypto-to-crypto, allowing individuals and institutions to purchase digital currencies without registration.

ShapeShift vs DGD

DGD is an Ethereum -based DAO token created by the Digix platform, which allows people to buy gold using digital currencies such as Bitcoin, Dogecoin , Litecoin and Ethereum. DGD runs on the Ethereum-based Digix protocol as a cryptocurrency to facilitate the trading of DGX (Digix Gold, which represents the value of actual gold reserves) tokens. Each DGX token is equal to 1 gram of gold and can be divided 1,000 times. This means that each minimum unit of DGX token is equivalent to 0.001 gram of gold. Users can use Ethereum wallets to store and transfer gold. All asset information files on the platform are stored using blockchain technology to ensure the transparency and security of gold reserves in the form of DGX. If necessary, DGX holders can convert tokens into actual gold. The current market value of DGD tokens exceeds $18 million, and the total number of DGD tokens in circulation is 2 million.

ShapeShift and DAO

The DAO token was created by Ethereum as part of The DAO crowdsale, which raised over $132 million worth of ether and created over 1.17 billion DAO tokens. Ethereum DAO token holders can propose and vote for various Ethereum-based projects that can be developed using funds raised from the DAO crowdsale. If users no longer want to hold these DAO tokens, they can trade them back into ether.

ShapeShift has become the first platform to support both digital assets. On the other hand, OpenLedger is also supporting tradable crypto assets associated with DAO and DGD - OPEN.DAO and OPEN.DGD.

ShapeShift has fully recovered from the attack and is now fully operational. This is the first time that new crypto assets have been added to the platform since the ShapeShift security breach.