The Gold DAO brings gold into the future

The Gold DAO, initiated by DAO.Link, is simply a groundbreaking task aiming to digitize and democratize the worth of golden done blockchain technology. This inaugural merges the timeless allure of golden with an innovative method for radical worldwide to securely and reasonably commercialized carnal gold, bypassing accepted banking systems.

For implicit 5,000 years, golden has been profoundly connected with humanity. It’s not conscionable a metal; it’s timeless, corrosion-resistant, and highly malleable for artisans. Its rarity from heavy wrong the world adds to its desirability, historically associated with wealth, prestige, and royalty.

Gold symbolizes enduring worth and craftsmanship successful our corporate history. However, its impractical carnal value led to the abandonment of golden arsenic a carnal currency.

Web 3.0 and blockchain exertion tin code this contented and ameliorate the existing solutions. In effect, Gold tin beryllium digitized into blockchain-based tokens, making it highly portable and casual to transfer, portion mixing the entreaty and store of worth characteristics of golden with the powerfulness of decentralization, transparency, transferability and the information of blockchain exertion — a long-anticipated wedding.

That’s wherever the Gold DAO relation takes place.

The Gold DAO, initiated by DAO.Link, builds upon the achievements of the ORIGYN Protocol and Yumi. Leveraging the Internet Computer Protocol(ICP), this collaborative task aims to revolutionize gold’s relation successful the integer and fiscal world.

DAO.LINK has collaborated with innovative companies and integer golden pioneers, including the ORIGYN Protocol , Yumi Marketplace, DFINITY Foundation, Bity, Metalor, Loomis, KPMG, and Quantum Agency on with highly skilled individuals. Together, they’re reshaping however we tin transact with golden worldwide, making it much accessible and unafraid for everyone.

The motivations down the Gold DAO are twofold. First, it aims to make a unafraid and afloat compliant commodity based upon carnal golden existing connected the blockchain, allowing for a liquid means of exchange, and reaping the benefits of golden portion addressing its main drawback: deficiency of transportability.

Second, it seeks to leverage the information of golden to make a USD-pegged stablecoin arsenic good as, collateralized by digitalized golden — GLDT oregon straight by GLD-NFT.

The solution’s archetypal and astir cardinal properties are security, compliance, and being cross-chain. We guarantee information by having the carnal golden insured and stored astatine Loomis and, oregon Metalor successful Switzerland, which is audited quarterly onsite by KPMG. The golden is of 99.99% prime of refinement and is procured by Metalor, a satellite person successful golden refinement.

We’re harnessing the unsocial exertion of the Internet Computer Protocol(ICP) to found a Service Nervous System (SNS). The SNS, arsenic the sole backstage cardinal holder, ensures decentralization, transparency, and task information portion preventing malicious actors from disrupting the task oregon steering it solely towards their ain interests. The SNS volition beryllium the sole backstage cardinal holder and the transparency of its mechanics is disposable to everyone.

This guarantees the project’s continuity, backed by the powerfulness of blockchain. Funds raised via the SNS volition service to proceed the improvement of signifier 2 and 3 that are mentioned below. Gold DAO SNS holders summation governance tokens (GLDGov), letting them enactment successful task governance and stock successful the project’s gross created by The Gold DAO.

The Gold DAO SNS comprises 3 phases:

• Phase 1: The superior signifier has already been completed by ORIGYN and Yumi. A integer commodity representing unafraid and audited carnal golden successful Switzerland. This involves the instauration and issuance of GLD-NFTs; NFTs linked to carnal golden bars held successful a apical information retention and identified by a serial number. Technically, these NFTs trust connected the ORIGYN protocol, a Real World Assets (RWA) and a next-generation NFT protocol. GLD-NFTs are indexed connected the 2nd fixing of London and tin correspond 1g, 10g, 100g, oregon 1 kg of gold.
• Phase 2: This signifier aims to present fungibility to GLD-NFTs, creating a liquid integer golden token known arsenic GLDT. A deficiency of fungibility and divisibility has hindered the broader usage of gold-based NFTs arsenic a mean of exchange, akin to the limitations of axenic commodities. The SNS volition clasp the backstage key, allowing to propulsion codification and update the astute declaration operating the GLD-NFTs to GLDT swap, transforming them from non-fungible to fungible assets.GLD-NFTs are securely stored successful a astute contract, and the instauration complaint of GLDT volition beryllium straight linked to the worth held wrong that contract. Unlike GLD-NFTs, GLDT is mathematically divisible and tin beryllium easy transferred, making it a versatile mean of speech that derives its worth from golden prices.
• Phase 3: In this last phase, the quality of golden arsenic a commodity becomes important arsenic it paves the mode for the instauration of a gold-backed stable-coin pegged to the US dollar — initially, the USDG, gold-backed stable-coins volition not lone beryllium constricted to USD currency successful aboriginal stages. SNS-collected funds volition concern the improvement of this stablecoin. Phase 3 is the starting constituent of gross generation.

The planetary Tokenomic of the Gold DAO and the USDG stableness mechanics person been theorized by Dr. Yulin Liu, a monetary theorist presently serving arsenic the Senior Economic Advisor astatine ChainLink. He is besides a erstwhile Chief Economist astatine Liquity, a Visiting Economist astatine the Bank of Finland, and an Economics Professor astatine HUST.

SNS holders of GLDGov wrong the Gold DAO bask aggregate advantages. In Phase 3, they person gross generated from the stablecoin (Phase 2, a 1 to 1 swap, doesn’t make fees). These holders actively marque decisions regarding golden astute contracts, tokenomics, and task processes. This progressive information enhances decentralization and security, fortifying the task against corruption, powerfulness centralization, and malicious actors, and ensuring its ongoing operation.

Moreover, holding GLDGov tokens provides indirect vulnerability to integer golden assets, which tin turn successful worth arsenic the Gold DAO task succeeds. These benefits collectively connection SNS holders fiscal incentives, a dependable successful governance, and a involvement successful this humanities DAO project.

Last but not least, the ORIGYN instauration has agreed to supply an unthinkable donation to guarantee the occurrence of The Gold SNS is providing 500 cardinal $OGY tokens. This half-billion $OGY volition beryllium staked for 5 years, the staking rewards volition beryllium allocated to the SNS GLDGov holders monthly. 50% of it each volition beryllium distributed successful 5 years. The different 50% volition proceed to beryllium staked wrong the SNS, providing gross to the DAO to enactment further development. Let’s not hide that $OGY is astatine the basal of the integer golden mechanics described above. Every caller golden certificate burns OGY tokens, creating a afloat deflationary mechanics arsenic described here.

The whitepaper and the tokenomics volition beryllium released precise soon connected each of our platforms. We invited questions and comments and are ever looking for constructive and intelligent engagement from the community. A peculiar bounty volition beryllium dedicated to invaluable contributors.

• If you are interested, delight get successful interaction with america with your details here: [email protected]
• A nexus to each of our platforms: https://linktr.ee/golddao

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