Gold DAO whitepaper
Last updated
Last updated
The Gold DAO whitepaper outlines an innovative approach to integrate physical gold with blockchain technology, creating a stable and decentralized financial ecosystem. The project’s core revolves around the creation and management of three primary products: Gold NFT (GLD NFT), Gold Token (GLDT), and a USD-pegged stablecoin (USDG), each representing different phases of the project.
Gold NFT (GLD NFT): This product represents direct ownership of physical gold bars stored in secure vaults in Switzerland. The GLD NFT is audited independently and offers redemption options for physical gold, providing a tangible and reliable investment.
Gold Token (GLDT): Acting as a bridge between physical gold and the digital ecosystem, GLDT is a fungible token backed by GLD NFT. GLDT are minted through swap- ping GLD NFT at a ratio of 1g for 100 GLDT. It fractionalizes gold ownership, offering increased liquidity and the ability to transfer micro amounts of gold.
USD-pegged Stablecoin (USDG): This stablecoin aims to address the inflation risks associated with fiat-backed stablecoins. Backed by GLDT, and hence by physical gold, USDG provides a robust collateral option, offering a more stable and reliable alternative to other forms of stablecoins.
The project utilizes the Internet Computer Protocol (ICP) and the ORIGYN protocol, ensuring decentralized governance and secure, transparent transactions. It introduces a decentralized autonomous organization (DAO), Gold DAO, running through a Service Nervous System (SNS) on ICP and governed by the Gold Governance token (GLDGov), which allows stakeholders to participate in decision-making and benefit from the ecosystem’s growth.
The whitepaper also covers the tokenomics, technology standards, and the roadmap for the project. It emphasizes the benefits of integrating physical gold with blockchain technology, including increased security, transparency, and efficiency, while mitigating risks associated with traditional gold investments and fiat currencies.
In summary, the Gold DAO project represents a significant step forward in the digital and decentralized financial world, offering a unique solution that combines the reliability of physical gold with the flexibility and innovation of blockchain technology.
