Bullionix is a decentralized gold mint. It’s the world’s first dapp that enables users to create NFTs (ERC-721 non-fungible tokens) by staking other ERC-20 tokens to them; specifically DGX gold-backed tokens. The result is digitally scarce, golden collectibles that exist immutably on the Ethereum network.
There are four easy steps to creating Bullionix collectibles. The first is to go to the shop and find a desirable casting mould. Moulds have a variety of designs and some require staking more gold than others (1 gram, 5 grams, 10 grams, etc). After choosing a mould, the users take on the role of a goldsmith, melting down the appropriate amount of gold. For example, there may be a limited edition Mark Twain mould that requires 5 grams so the goldsmith will be prompted to stake 5 DGX. After doing so, the gold-backed Mark Twain NFT is immediately minted and deposited into the user’s Ethereum wallet. The goldsmith now owns the resulting collectible to display, share, or sell on secondary markets like OpenSea. If at any time, the owner of this NFT wishes to extract the original 5 DGX, they may do so by choosing the “melt” option within the Bullionix Display Case.
Each Bullionix collectible is represented by beautiful 3D art that needs a proper place to view and enjoy. That’s why the Display Case is a key feature designed to mimic the real life experience of coin collecting. Intuitive and fun, users can select their Bullionix collectibles one by one to examine by zooming in, flipping over, and rotating around in hi-res.
Bullionix was created to increase the adoption of blockchain technology by making it more accessible to a wider audience. Leveraging the Ethereum blockchain, Digix smart gold, and non-fungible tokens make up the foundation of this one-of-a-kind gold mint.
DigixDAO and a sustainable revenue model
The Bullionix team launched as a family venture and is now five with experienced founders, developers and passionate designers. The Bullionix dapp will be going live in March of 2020.