A New Era in Blockchain-Backed Gold Assets
Gold DAO embarks on a transformative journey, blending the security of physical gold with the innovative capabilities of blockchain technology, leveraging the Internet Computer Protocol (ICP). This integration is pivotal for expanding the utility of ICP and introducing a stable asset class in the dynamic cryptocurrency market.
Tokenomics : Diverse and Strategic
Gold DAO’s ecosystem encompasses multiple tokens, each tailored to serve distinct roles:
-
GLD NFT : Direct ownership of physical gold stored in Swiss vaults, offering tangible investment and redeemability.
- Expert Insight : Each NFT is backed by a specific gold bar, with serial numbers and purity details transparently recorded on the blockchain.
- Redeemability Factor: Holders can redeem physical gold, bridging digital and tangible assets seamlessly.
-
GLDT : A fungible cross-chain token that can act as a medium of exchange. It fractionalizes gold ownership and acts as a stable collateral for DeFi.
- Cross-Chain Utility: Ensures liquidity across multiple blockchain ecosystems, enhancing its appeal to a broader investor base.
- Collateral Efficiency: Offers a robust collateral framework for DeFi.
-
USDG : A stablecoin backed by GLDT, providing a reliable alternative to fiat-backed stablecoins.
- Inflation Resistance: The value of the collateral of USDG, i.e. GLDT, is unaffected by the erosion of inflation.
- Financial Stability: The liquidity risk is lowered due to the price stability of the GLDT.
Distribution and Allocation of GLDGov Tokens:
- Total Supply: 1 billion, capped supply with a deflation mechanism.
- SNS Fundraising Contributors: 200 million tokens (20% of total supply) are opened to the community for voting power and staking rewards.
- Dev Team: 180 million tokens (18%), released over 24 months with a 3-month delay, aligning with the project’s long-term success. Those funds are used for 2 years as incentives for the team.
- Treasury: 620 million tokens (62%), earmarked for strategic development, marketing, partnerships, and community incentives.The utilisation of these funds is subject to a vote from the SNS.
Voting Power:
Community will have 57.8% of voting power.
The remaining 42.2 % of voting power are assigned to the developer neurons hence the community will have the majority of voting power.
In the governance model of neurons within the system, a neuron must have at least 100 GLDGov tokens and a minimum dissolve delay of 3 months to vote. The maximum dissolve delay is 2 years. Neurons with longer dissolve delays receive a bonus multiplier up to 2, increasing linearly for delays between 3 months to 2 years.
Additionally, neurons accrue an age bonus multiplier from 1 to 1.5 for ages up to 2 years. For example, a neuron with a 2-year dissolve delay and 2-year age gets a multiplier of 3. This governance framework ensures a balanced and weighted voting structure, with the community owning more voting power than the developer team, promoting decentralized governance.
Audit and Security of Gold Assets
Gold DAO ensures rigorous security and transparency in managing its physical gold reserves:
- Regular Independent Audits: Conducted by renowned firms like KPMG and an independent Swiss Oracle to align physical gold holdings with issued GLD NFTs.
- Swiss Vault Storage: High-security storage for physical gold.
- Accessible Audit Reports: Providing complete transparency to token holders.
Cross-Chain Functionality of GLDT
GLDT’s cross-chain design promises substantial benefits:
- Enhanced Market Access: Targets liquidity in Ethereum and Bitcoin networks.
- DeFi Portfolio Diversification: A stable, gold-backed asset for DeFi investors.
Expansive Partner Ecosystem
Gold DAO’s strength lies in its strategic partnerships:
- ORIGYN Foundation: Enhancing GLD NFT’s security and transparency.
- YUMI Marketplace: Providing trading platforms and ensuring regulatory compliance.
- Metalor: Providing the highest quality of refined gold of 99.999%.
Funding Role of SNS
The Service Nervous System (SNS) is instrumental in funding:
- Project Development and Maintenance: Continual improvements and updates.
- Marketing Initiatives: Broadening Gold DAO’s reach.
- Operational Expenditures: Covering listings, audits, and other services.
Conclusion
Gold DAO is set to redefine the intersection of traditional asset classes and blockchain technology. It stands to significantly influence the ICP ecosystem and the DeFi sector, offering innovative, asset-backed digital financial solutions. We invite the Dfinity community’s experts to engage deeply with our project and contribute to its evolution.