Tokenomics of Puregold.io

The Pure Gold token aims to be the first cryptocurrency backed by gold, that can also be used as a form of payment. There will be two types of digital tokens available in the Puregold ecosystem, the PGG token, and the PGT token. The PGG token is an asset, and each PGG token will be worth the same price of 1 gram of gold at any point in time. Puregold will use smart contracts to issue PGG tokens, that are backed by one gram of gold each, to investors. Puregold will be powered by the Ethereum blockchain, which uses a public ledger to give everyone access to the record of the Puregold grams purchased. The blockchain will ensure transparency about the amount of gold that Puregold has, and how much gold people purchase. The value of one PGG token depends on the LBMA or London Bullion Market Association value of one gram of gold. PGG can be turned into fiat, or other more liquid crypto currencies, or used as a store of value that is backed by gold.

The second token that will be used on the Puregold platform is the PGT token. The PGT token will be the utility token on Puregold’s network. The PGT token will be used to fund transactions on the Puregold network. Also, from time to time people may be able to use their PGT tokens to purchase PGG tokens on the Puregold network. Make sure you pay attention to the website so you can be notified as to when Puregold is allowing you to exchange your PGT tokens for PGG. People can also use their PGT tokens to make purchases where they are accepted. The use of PGT tokens will start out in areas of Singapore, and Puregold will use their extensive business experience to promote mass adoption of the PGT token to businesses all over the world. The value of the PGT token will be based on the cryptocurrency market and how people in the cryptocurrency space value it.

 The physical gold that the PGG tokens will be backed by is stored safely by a decentralized storage unit that Puregold employs to ensure their gold is top quality and kept safe.  Puregold owns very high-quality investment grade gold (999.9%)that is stored in ingots, jewelry, and coins. Purchasers of the PGG token will have the potential to gain as the price of gold increases. During Puregold ICO there will be 50,000,000 million PGT tokens minted. You can purchase 700 PGT tokens for 1 Ethereum during ICO, no more PGT tokens will be created after ICO.

If at any point in time the gold that backs the PGG tokens is sold the PGG tokens will be destroyed. There will always be enough physical gold to represent the amount of PGG tokens in existence. PGG tokens will be available after the PGT tokenswap is completed. The PGT tokenswap will be broken up into three phases, private-ICO, pre-ICO, and a public ICO phase. The public ICO phase only requires a .1 eth minimum.

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Disclaimer: This is not investment advice, everything I share is very general in nature and for informational purposes only. If you are looking for investment advice please seek out a licensed professional!