GoldPesa Launches a Gold-Backed Token with Upside
GoldPesa transforms gold into an income-generating asset class that trades at a premium
DUBAI, United Arab Emirates, Nov. 16, 2021 (GLOBE NEWSWIRE) -- GoldPesa is launching a gold-backed token which trades at a premium and safely generates wealth for token holders. Each GoldPesa token ("GPX") is backed by 1 gram of gold stored in a secure vault while not being a stable coin.
Over the years, gold has earned a reputation as a good inflation hedge. Nevertheless, owning gold as an asset class doesn't generate any yield. In fact, storing gold securely actually costs money. GoldPesa is solving this problem with an asset that has passed the test of time and can survive inflation, combined with an intelligent quantitative trading strategy which is normally only available to the top 1%.
"GoldPesa was born out of my 8 years' experience in the precious metals sector combined with over 20 years' experience in quantitative science and engineering," says GoldPesa founder Shamik Raja. "With GoldPesa, we've developed a token that has the characteristics of a DeFi gold-backed structured product."
GoldPesa token runs on unique tokenomics designed to generate wealth for token holders. The cost of a newly minted GPX token is spot price of gold + 1%. This 1% fee is collected during the minting process and any time the GPX token is transferred. Half of the 1% fee is then put into a proprietary intelligent trading strategy called the PAWN. Profits generated by the PAWN are used to buy back and burn the GPX token from the market. In this way, GoldPesa both creates demand and reduces the supply of GPX tokens at the same time. This results in the GPX price floating away from the spot price of gold and trading at a premium.
The PAWN buyback and burn feature drives the GPX token price higher which naturally creates volatility. In addition, by broadcasting the PAWN results on the website, GoldPesa creates transparency that results in additional volatility. Since people tend to buy and sell volatile tokens more, this volatility results in more 1% fees added to the capital base for the PAWN. This results in increasingly larger buybacks with increasing volatility as the cycle continues creating tremendous value for token holders.
In order to reserve a newly minted GPX token next year at spot price of gold + 1%, one must purchase a GoldPesa Option ("GPO") token today. GPO is an ERC20-compliant token built on the Ethereum blockchain and is a cryptocurrency in itself, whereby the intrinsic value is closely correlated to the value of GPX. This effectively makes GPO an exotic call option with a moving strike price.
GoldPesa's mission is clear: turning gold into a value-generating asset class, while making the most of the blockchain's decentralized structure, trust, speed and traceability. Within 10 days of launching their GPO presale, GoldPesa sold approximately 5 million GPO tokens attracting over 149 token holders.
GoldPesa is a brand owned and operated by Trilogy Precious Metals DMCC, a well-established gold trading company holding a precious metals license in the UAE since 2013. With offices in London and Dubai, GoldPesa has assembled a multidisciplinary team with experts in engineering, quantitative science, finance as well as sales, marketing and social media.
Contact: Heroies Havewalla, Marketing
Email: [email protected]
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