Gold TokenPrice

(GLDT)

GLDT, or Gold Token, is a fungible utility token within the Gold DAO ecosystem where each token represents exactly 0.01 grams of physical gold. The tokens are backed by GLD NFTs, which act as digital certificates of ownership for specific gold bars. To obtain GLDT, users can swap GLD NFTs at a ratio of 1 gram of gold (1 NFT) for 100 GLDT. During this process, the NFT is secured in a smart contract while the GLDT is minted for the user.

The physical gold is stored in high-security, insured vaults located in Switzerland. To ensure transparency, the gold is sourced from LBMA-certified refineries. The vaults undergo regular triple audits by KPMG to verify the assets. Users can audit the backing themselves by checking the ratio of GLDT in circulation against the GLD NFTs held in the project's secure swap canister, ensuring every token corresponds to real-world gold.

Yes, GLDT is fully redeemable for physical gold. Users can perform a reverse swap to exchange their GLDT back into GLD NFTs. Once the NFT is obtained, the holder can follow the project's legal procedures to claim physical gold bars. This redemption process typically requires meeting minimum weight requirements, such as 10g, 100g, or 1kg bars, and involves standard identity verification protocols.

GLDT is the utility token backed by gold, primarily used for payments, hedging, and as collateral within DeFi protocols. GOLDAO, on the other hand, is the ecosystem's governance token. While GLDT value is pegged to the market price of gold, GOLDAO holders participate in the decision-making process by voting on DAO proposals and may earn a share of the fees generated within the ecosystem.

Users can participate in staking to provide liquidity to the ecosystem and earn rewards, which are typically paid out in governance or other ecosystem tokens. In terms of costs, transferring GLDT involves very low transaction fees. While swapping an NFT for GLDT is usually free, the reverse swap to retrieve an NFT may incur a small flat fee to cover administrative and smart contract operations.

GLDT was initially launched on the Internet Computer (ICP) and is expanding to other networks including Ethereum, Base, Arbitrum, and PulseChain to improve liquidity and accessibility. The token is available for trading on major exchanges like LBank, as well as various decentralized exchanges. While trading on decentralized platforms typically does not require identity verification, initial NFT acquisitions or physical redemptions usually require KYC through authorized partners.