Real World Asset Tokenization: Gold DAO Leads a New Chapter for On-Chain Gold RWA

The RWA sector has continued to develop this year. In addition to traditional DeFi platforms like MakerDAO and Aave, many emerging protocols have also appeared. RWA not only has the potential to become the main narrative of the next bull market but also hopes to serve as a bridge connecting the crypto market with mainstream finance, introducing a large amount of traditional capital into the crypto market. RWA, or Real World Asset tokenization, is the process of converting ownership, income rights, usage rights, and other rights of tangible or intangible assets into tokens. RWA can represent various traditional assets, including commercial real estate, bonds, cars, and almost any asset that can store value.

Various public chains are actively responding to the RWA trend by launching related protocols. The RWA story of the Internet Computer ecosystem begins with Gold DAO.

Recently, the IC ecosystem has gained attention due to the new inscription paradigm of the decentralized writing protocol Mora, and the inscription experiment initiated by IC Ghost has further added to this. The SNS platform, after not launching any new projects in the past month, has also revived due to the Gold DAO meeting its goals within 5 hours. Gold DAO is currently conducting SNS Swap and issuing governance tokens. Many new users on the IC chain are inquiring about how to participate in the purchase.

Gold DAO Overview

Gold DAO aims to bring gold into the Web3 world.

Currently, there are various ways to invest in gold on the market, mainly including purchasing physical gold, investing in gold ETFs, and buying stocks of gold mining companies. However, each method has its own drawbacks, such as storage issues with physical gold, management fees and indirect ownership with ETFs, and reliance on company performance with mining stocks. These factors often make investors feel cumbersome.

Gold DAO is a gold RWA project built on the Internet Computer, initiated by DAO.Link. It aims to achieve the digitization and democratization of gold through blockchain technology, allowing global users to bypass traditional trading markets and trade physical gold securely and fairly.

The Gold DAO ecosystem consists of four parts: GLD-NFT( gold NFT), GLDT( gold token), USDG( gold-backed stablecoin), and GLDGov( governance token).

( GLD NFT

GLD NFT is the first product of Gold DAO, which has now been launched. It represents direct ownership of physical gold in the vault, and holders can redeem physical gold at any time. The gold in the vault is audited quarterly by KPMG. This provides investors with a more convenient way to trade physical gold.

GLD NFT is issued based on the ORIGYN protocol, and each NFT includes ownership certificates, minting information, images of the gold bars, descriptions, certificates of authenticity, specifications, and storage proofs, with all data fully stored on-chain.

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( GLDT

GLDT is a bridge connecting physical gold and the digital ecosystem. It is a fungible Token representing 0.01 grams of gold. GLDT can be exchanged with GLD NFT through smart contracts, for example, 1 gram of gold's GLD NFT can be exchanged for 100 GLDT, and vice versa.

GLDT has achieved the segmentation of GLD NFTs, enhancing the on-chain liquidity of gold and providing users with a new way to trade fractional gold. According to the roadmap, GLDT and its exchange will be launched in the first quarter of 2024.

) USDG

Compared to fiat-backed stablecoins, gold-backed stablecoins can avoid inflation risks and high settlement risks. Gold DAO has created an over-collateralized stablecoin USDG backed by GLDT.

Users can use GLDT as collateral to mint USDG, with a minimum collateralization ratio of 150%. When the collateralization ratio falls between 110% and 150%, users will not be able to continue minting USDG. To maintain the price stability of USDG, Gold DAO has established a stability pool. When the collateralization ratio is below 110%, the stability pool will deduct the collateralized GLDT and destroy an equivalent amount of USDG. The deducted GLDT will be proportionally distributed to the stakers in the stability pool as rewards.

USDG has anti-inflation and price stability features. Its launch will well meet the demand for a reliable native stablecoin in the IC chain ecosystem. According to the roadmap, USDG is planned to be launched in the third quarter of 2024.

GLDGov

Gold DAO is currently issuing governance token GLDGov through SNS. SNS is the Launchpad infrastructure of the IC chain, providing application developers with a one-click token issuance and DAO deployment governance solution.

GLDGov Token Economics:

• Total supply of 1 billion coins
• Deflationary mechanism: Destroy 0.001 GLDGov transaction/transfer fee for each transaction, and destroy 1000 coins for each proposal that fails.
• SNS Community Fundraising: 200 million ###20%###
• Development Team: 180 million ( 18% ), 24 months linear unlock
• SNS Treasury: 620 million tokens (62%), used for development, marketing, partnerships, and community incentives, subject to SNS voting.

GLDGov holders can participate and benefit in various ways:

• Participate in governance, propose development plans
• Staking tokens to earn voting rewards
• Become a development contributor
• Assist in project marketing

GLDGov stakers will also share in the future income of Gold DAO, as well as 500 million OGY Tokens donated by the ORIGYN Foundation.

Gold DAO started selling tokens on December 13, raising 112,000 ICP in 22 minutes, and reaching the minimum target of 200,000 ICP, approximately 1.26 million USD, within 5 hours, making it the fastest SNS project to meet the target in the last three months. There are 13 days left until the sale ends, and it is expected to soon reach the hard cap of 750,000 ICP. Participants, please be aware of the risks.

Gold DAO Outlook

Gold DAO is dedicated to creating a secure and reliable gold tokenization ecosystem. Its unique advantage lies in utilizing the ORIGYN protocol to achieve direct data storage on the blockchain, ensuring immutability and trustworthiness. The decentralized governance of Gold DAO is also one of its core features.

In the future, Gold DAO plans to achieve cross-chain integration, initially incorporating Ethereum and Bitcoin networks to allow more users to use it conveniently. Gold DAO hopes to make significant contributions to the IC ecosystem by introducing stablecoins backed by physical gold and cross-chain protocols.

Experts believe that RWA will simplify and enhance the management and interaction of real-world assets, with projects like Gold DAO demonstrating the effective application of blockchain in the RWA field. With the emergence of more innovative solutions, RWA is expected to flourish in the future.