TokenSales

The DigixDAO TokenSales contract managed the first major crowdsale conducted entirely on the Ethereum blockchain. Deployed on March 29, 2016, it raised its full $5.5 million USD funding cap in less than 24 hours — a result that Reddit user amarcord called "pretty impressive," noting that "Ether multiplying in value tenfold in the last few months helped."

DigixDAO was built by Digix Global, a Singapore-based company developing a system to tokenize physical gold bars on Ethereum. The DGD tokens sold through this contract represented governance shares in the DAO, which would oversee the development of DGX, a gold-backed stablecoin where each token represented one gram of gold stored in a vault.

The contract was written in Solidity 0.3.0 and its source code was publicly verified by Ethereum developer Piper Merriam (pipermerriam), who independently compiled the DigixGlobal/digixdao-contracts GitHub repository and confirmed the bytecode matched what was deployed on-chain.

The crowdsale was notable for several reasons: it was the first to use a hard cap mechanism that automatically rejected contributions once the limit was reached, it completed months before The DAO (which launched in April 2016), and it demonstrated that Ethereum smart contracts could manage significant financial operations trustlessly.