Dear TMTG community,
The Digital Gold Exchange (“DGE”) is a crucial component of the TMTG project and is the core platform for the purchase of Midas Digital Gold (“MDG”) tokens.
Each MDG token is backed by 1g of 99.9% purity gold that can be redeemed at Loco London Price depending on the date when the transaction is made. As such, owning MDG tokens is as good as owning real gold. Trading of MDG tokens is also the equivalent of trading real physical gold. This was made possible through our partnership with Korea Gold Exchange 3M.
The DGE platform conducted a beta test in November 2018, which was the first gold trading platform on the blockchain started by Korean engineers. DGE is a decentralized platform that aimed to be accessible to a large number of end-users. Through the beta test, we have received feedback on how the DGE can be improved such as improving user interface and user experience, faster price updates, and higher efficiency when trading.
TMTG has signed a contract for the development of a new platform project with Digital Global Enterprise Limited. As part of the changes. we rebranded the platform name to Touch Gold Exchange (“TGXC”) and reorganize it into a new platform.
The new reorganization in TGXC will improve the decentralized dex transaction method to make it more convenient for general users and it will change the existing login method and transaction method through Metamask and MyEtherWallet. In addition, we plan to simplify the gold trading process by enabling the free movement of assets between TGXC and exchanges in conjunction with CoinZeus, a global digital asset exchange.
As part of the rebranding, all MDG tokens will be converted into Touch Gold (“TG”) tokens. The conversion process will be as follows: all MDG tokens used in DGE will be burned, and TGXC will use TG tokens as tokens linked to real gold. The only token exchanged with TG tokens is TMTG.
If the real money corresponding to the reserve for payment is secured in the second half of this year, the beta service is expected to be available in the fourth quarter. Currently, we are focusing on the platform reorganization. “The TGXC platform will be a lighter and more customer-friendly platform as a highly efficient gold trading platform.
Thank you for your support and we look forward to launching the new Touch Gold Exchange platform for your trading needs soon.
Join and connect with us through any of our official channels below:
Digital Gold Exchange (DGE) Rebranded as Touch Gold Exchange (TGXC) was originally published in TMTGOfficial on Medium, where people are continuing the conversation by highlighting and responding to this story.