Golden Coin Token
Why a digital means of payment?
The Golden Coin Token is a digital means of payment. It is exclusively used for trading on the Digital Gold marketplace. Members purchase a certain number of Golden Coins when joining the platform. They then use the Tokens to pay a part of goods and services they purchase on the marketplace.
Golden Coin Tokens have a given value in Euros. This is a prerequisite for using Tokens to settle transactions – without the risk of volatility.
Thanks to the Token, payments on the platform are secure, fast and reliable.
Transactions with Golden Coins are executed directly between buyer and seller. This brings the huge advantage of lower transaction costs compared to traditional wire transfers.
The price of Golden Coin Tokens is set by the consortium of Wise Founders. This price applies to the initial sale of tokens to new members, subsequent sale of tokens to existing members, and the value at which the tokens are accepted as a consideration for transactions performed on the platform.
The Wise Founders will review the price of the Golden Coin Token every six months. The value of the Token is expected to increase gradually over time, as the marketplace is growing. This results in an increase of purchase power for “first movers” joining the platform at an early stage.
Initial Purchase of Golden Coin Tokens
Every new joining member is obliged to purchase Golden Coins in the amount of 0.5% to 7% of the organization’s last audited annual turnover, with the exact percentage being left to the joining member’s discretion.
Subsequent Purchase of Golden Coin Tokens
Regular members will be entitled to purchase subsequently additional tokens from the Platform.
Tokens reserved for DG
Upon each and every issuance an amount of tokens will also be issued to the Wise Founders of the platform to remunerate their efforts to found, operate and sustain the platform.
No Exchange for Fiat Currency
Members are not allowed to exchange Golden Coin Tokens for fiat currency, such as Euros. The platform will not provide such an exchange.
How to cash out Golden Coin holdings
As the exchange for fiat currency (e.g. Euros) is not allowed and will not be supported on the Platform, members deciding to cash out Golden Coin Token holdings have to do so via goods and services traded on the Platform.
This rule ensures sufficient liquidity for goods and services traded on the platform, and motivates members to purchase from suppliers on the platform.