DigiDollar

A DigiDollar wallet you run yourself

Mint, hold, send and redeem DigiDollars, DigiByte's dollar-pegged coin, from your own arcade. Your wallet reads every transaction from its bytes and signs only when you say yes.

The whole cycle

  1. Gather. Combine many small DGB coins (UTXOs) into a few large ones for collateral. Coins carrying inscriptions are never touched.
  2. Mint. Lock DGB in a vault and mint DigiDollars. Longer locks need less collateral.
  3. Hold and send. Pay a DigiDollar address, or an @name: the arcade finds the person's key on the chain and checks it really is theirs.
  4. Redeem. When the lock ends, give the DigiDollars back and every DGB in the vault comes home.

Tested end to end. A $100 test mint was held, then redeemed when its lock ended, and every test DGB came back.

It runs on DigiByte's test network today. On mainnet, minting and sending stay off until the arcade's operator deliberately switches them on.

DigiDollar on ARCADE, the step-by-step guide (PDF) · DigiByte on ARCADE

Questions

What is DigiDollar?

DigiByte's dollar-pegged coin. You lock DGB as collateral in a vault and mint DigiDollars against it; redeeming gives the DigiDollars back and returns the DGB.

What does a DigiDollar send cost?

A network fee of about 0.15 DGB, paid from your DigiByte wallet. The payee gets exactly the dollars you typed, and there's no arcade fee.

Can I send DigiDollars to a username?

Yes, on the test network: pay an @name and the arcade resolves its DigiDollar address from the key that claimed the name.

Does the arcade hold my DigiDollars?

No. The DigiDollar module prepares each transaction; your own wallet reviews it and signs it. The module never holds your keys.