GOLDx is a gold token 100% backed by constituent gold tokens (currently with PAXG as its sole constituent), which is verifiable through Etherscan. We will evaluate and add more gold tokens to the basket in the future.
PAXG, as the constituent gold token of GOLDx, is regulated by NYDFS and is 100% back by London Good Delivery physical gold bar certified by the London Bullion Market Association.
Please refer to whitepaper of GOLDx for more details.
Digital gold has emerged as an alternative to invest directly in gold while avoiding many of the challenges of owing physical gold or other gold assets in traditional financial markets. Digital gold offers a number of benefits compared to its physical counterparts, including high scalability, interoperability and programmability. In addition, digital gold is an attractive instrument for gold investment. They can be traded at any time with low fees and easy storage. The emerging industry of DeFi (Decentralized Finance) will unlock more opportunities for digital gold derivatives.
GOLDx has a number of distinctive features, including:
Customization. GOLDx is denominated in grams instead of troy ounce, which is more friendly to Asian investors and holders.
Price Peg. Given underlying assets are gold tokens redeemable for physical gold, GOLDx’s market price tracks real-time price of gold from LME, serving as the best proxy for gold exposure.
Redeemability. You can convert GOLDx into gold bars through the designated broker network around the world.
DeFi Compatibility. Zero fees associated with GOLDx’s on-chain transactions, 100% compatible with all DeFi protocols and easy for DeFi integrations.
100% Transparency. GOLDx is 100% backed by PAXG with all transactions and reserves verifiable and auditable on-chain through Etherscan.
Easy Accessibility. GOLDx is currently traded on a number of decentralized exchanges including dForce Trade, Uniswap, and 1inch.
Interest-bearing. All DeFi protocols across the dForce ecosystem will support GOLDx. Yield Market for GOLDx will be created as well, so users can redeem yields.
Upgradability. As a DeFi protocol, GOLDx is able to support upgrade, i.e. to expand its constituents to include other tokens
The minimum investment in GOLDx is US$ 0.001.
There is no fees for using GOLDx at this stage. However, there will be fees levied by PAXG issuer (Paxos) for conversions to PAXG, and gas fees for using the Ethereum network.
Please visit https://www.paxos.com/paxgold/ for the complete fee schedule of PAXG.
GOLDx protocol was audited by SlowMist.
Mint & Redemption: GOLDx Protocol