Nikolas Sargeant
On Monday, the Solana team announced via X that DGLD, the tokenized gold from Swiss refiner MKS PAMP, is now live on Solana.
Thanks to this latest development, SwissBorg users can buy it directly in the app. Each DGLD token is digital evidence of a co-ownership right in one fine troy ounce of allocated, LBMA Good Delivery gold, refined by MKS PAMP and held in segregated, insured vaults in Switzerland.
DGLD on Solana is issued natively with Solana’s Token-2022 standard. Its supply has its own allocated bar in a Swiss vault, and is separate from the Ethereum and Base supplies. Any holder can see which bars they co-own on the Gold Mapper.
Solana is an integrated, open-source blockchain that synchronizes global information at the speed of light. The network is focused on fast transactions and high throughput to encourage mass consumer adoption of blockchain technology.
Solana is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
SOL is down 1.1% in the last 24 hours and trades at $120.49.
