Digital Gold
DGLD
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
DGLD (Digital Gold), issued by Gold Token SA under MKS PAMP, is a tokenized physical gold product backed by vaulted Swiss gold. While the project benefits from established institutional bullion backing and zero management fees, its risk profile is elevated due to a catastrophic cross-chain bridge exploit in February 2026. Specifically, as documented in the security review: "In February 2026, DGLD suffered a cross-chain exploit. A non-standard transferFrom implementation in the Ethereum contract could report successful execution without enforcing expected token movement; the Ethereum↔Base bridge relied on that success signal, enabling a phantom deposit on Ethereum and unbacked minting on Base." This resulted in the unauthorized minting of 100 million unbacked tokens, compromising the core 1:1 asset backing mechanism. Although the issuer acted swiftly via contract pausing, post-incident reporting, dual re-audits by Hacken and Halborn, and a 1:1 token migration, the incident underscores significant smart contract and operational risks. Additional structural weaknesses include centralized proxy governance, lack of transparent continuous reserve attestations, negligible secondary trading liquidity ($11M market cap with minimal volume), and near-absent organic community participation.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Digital Gold (DGLD)
DGLD (Digital Gold) is a tokenized real-world asset (RWA) product that represents physical allocated gold stored in Swiss vaults. Issued by Gold Token SA (GTSA), the tokenization entity of Swiss bullion firm MKS PAMP SA, the token operates on the Ethereum and Base blockchains. The project was established with institutional backing from MKS PAMP, CoinShares, and Blockchain.com, functioning under Swiss legal structures with a model that features zero ongoing management fees.
The project underwent an ownership acquisition by MKS PAMP in November 2025 and expanded deployment to Base in December 2025. DGLD's primary mechanism involves minting and burning tokens in direct proportion to physical gold deposits and redemptions, providing on-chain representation of allocated PAMP gold bars.
In February 2026, DGLD suffered a cross-chain bridge exploit between Ethereum and Base. An edge-case vulnerability in a non-standard transferFrom implementation allowed a phantom deposit on Ethereum to trigger the unauthorized minting of 100 million unbacked tokens on Base, leading to a temporary price dislocation on decentralized exchanges relative to spot gold. The Base contract was paused on the day of detection, and the issuer addressed the incident by publishing a post-mortem, engaging Hacken and Halborn for post-fix audits, deploying a new token contract, and executing a 1:1 balance migration. Other operational risks identified include fully centralized upgradeable proxy governance, an absence of continuous real-time reserve attestations, micro-cap valuation with low secondary market liquidity, and limited retail community engagement.