
Website: aurus.io/marketplace?toke
Asset classes
Metrics
Price $ 73.25
Assets Under Management $ 9,804,982
As of Nov. 4, 2024
Description
An Aurus tGOLD token represents and tracks the price of one gram of physical gold. It is also redeemable by burning the token and request a vault extraction of the physical gold from a Provider Partner.
The minting of an ERC-20 tGOLD is initiated by a Provider Partner who sends its gold bullion into a Vault Partner. After confirmation of its quality by an auditor, the Provider receives tGOLD tokens in its wallet, eligbile for trading on blockchain networks. This multi-party validation ensures the storage and the quality of the physical gold used as collateral.
The physical golds bullions must have been refined by a London Bullion Market Association (LBMA) member, certifying its purity standard.
The large integration of the token to Decentralized Exchange combined with the use of Chainlink price oracle allow for an efficient tracking of the physical gold trading price.
Aurus takes a 0.5% fee on tGOLD token issuance and a 0.18% transaction fee incured to the initiator of a tGOLD transaction.
Smart Contracts
tGOLD token
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