Crypto Asset Statement: DGB
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Written by Customer Care Team
Updated over a week ago

Crypto Asset Statement: DGB (Digibyte)

Last updated: March 23, 2023

About this Statement

CatalX CTS (“Catalyx” or “we”) strives to provide our users with information to assist in understanding crypto assets that are offered for trading on the Catalyx platform (the “Platform”). One of the crypto assets we offer on the Platform is Digibyte (DGB). This summary sets out certain key information about DGB as well as some of the risks involved in trading it. While we tried to describe the key features of DGB here, this summary doesn’t provide all relevant information on DGB. We encourage users to perform their own research in order to understand any crypto asset that they intend to trade on the Platform.

History & Characteristics of DGB

The DGB network was founded in January 2014 as a fork of Bitcoin, by creator Jared Tate, who was inspired to create a blockchain which responded to the shortcomings of Bitcoin by prioritizing security and scalability. In addition to the use of DGB as a currency, the DGB blockchain can be used for a variety of purposes. For example, it can be used to purchase digital assets, create smart contracts, run decentralized applications and authenticate transactions.

DGB has a three-layer blockchain network which separates smart contracts, processing, and decentralized applications. DGB’s blockchain is broken into multiple layers—the application layer, consensus layer, and network layer. In the application layer, users are able to access DGB’s dApps and interact with the blockchain’s cryptocurrency. In the consensus layer, transactions get recorded and miners are allowed to manage the release of new DGB currency. Finally, the network layer is the foundational layer of the blockchain that defines the communication and operating procedures for all devices running the software.

The DGB network has several key features including Digi-ID an on-chain user identity authentication system that replaces traditional login credentials with an encrypted blockchain based signature which can significantly improve security and DigiAssets, a token creation engine that allows developers to create secure tokens, digital assets and smart contracts on the DGB network.

About DGB

DGB is the native cryptocurrency used on the DGB blockchain. In total, there is a total maximum supply of 21 billion tokens, which is the same cap that applies to Bitcoin. After this amount has been mined, there is no opportunity for further mining. DGB is used as fuel to pay for transactions on the DGB network as well as to compensate miners for helping to secure the network and verify transactions.


DGB is subject to a number of risks that apply to many crypto assets, descriptions of these risks can be found in our Risk Disclosure Statement. We emphasize that this Crypto Asset Statement and the Risk Disclosure Statement do not contain an exhaustive list of all risks associated with trading DGB, and in addition, do not take into account an individual’s particular situation or risk tolerance. We encourage all Catalyx users to perform their own due diligence to assess the risks associated with DGB and to determine whether this level of risk is acceptable to them.

How Catalyx determines which Crypto Assets to List

Catalyx has established robust policies and procedures to review each crypto asset offered for trading on the Platform. Among other information, we review available public information relating to the crypto asset on the following topics prior to making a determination on whether a crypto asset will be listed:

  • The history and characteristics of the crypto asset including whether the crypto asset was launched by ICO;

  • Analysis of the founders or inventors of the crypto asset/related network and a review of their ongoing involvement with crypto asset/network;

  • How the crypto asset functions including a review of its utility or purpose;

  • The market liquidity for the crypto asset;

  • The current and proposed governance of the ecosystem on which crypto asset operates with a focus on the level of decentralization of such ecosystem; and

  • The position taken by any regulator with respect to the crypto asset including any enforcement action taken against the crypto asset, the related network, or the founders.

In addition to the above we also conduct an analysis of factors weighing in favor or against the crypto asset being deemed to be a security based on Canadian securities laws.

Regulatory Information

No securities regulatory authority in Canada has expressed an opinion about DBG or any of the other crypto contracts or crypto assets made available through the Platform, including an opinion that DBG itself is not a security and/or derivative. Changes to applicable law may adversely affect the use, transfer, exchange, or value of any crypto contracts or crypto assets you hold on the Platform.

Certain statutory rights under securities legislation in Canada do not apply in respect of this Crypto Asset Statement.

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