Digital Gold Token Utility and Value
We will issue the Golden Coin Token (GCX) that will be used as a core part of our digitalized business model. It will have multiple intrinsic utilities, such as system access, payment for usage fees, Smart contact contracts (SCC), usage, incentives, bounty and reward mechanism when and if applied, access and payment for advanced features (e.g. services provided by partners on our platform), when such services are launched as the Platform evolves.
Digital Gold utility token is carefully structured in such a way as to empower our users, boost interactions with the Digital Gold system and facilitate the purchase of goods and usage of services provided by platform members and obtain membership in consideration for utility tokens. Using Golden Coin tokens for incentivizing usage and the Digital Gold service referral will give additional rise to network effects and hence facilitate better interactions.
The inherent utility of Golden Coin token is derived from core interactions, assisted by Digital Gold protocol services:
- GCX will be required to obtain membership and access to the system and all core operations on the DG exchange protocol;
- Additional GCX will be needed to settle exchange and other advanced features of the DG system;
- GCX will be a compulsory part of the payment mechanism for the Digital Gold Platform;
- Golden Coin tokens will have to be spent on powering Smart Contact Contracts, as a minimum certain percentage of each transaction will have to be settled in tokens;
- Golden Coin tokens will also be distributed through membership introduction incentivization mechanisms for facilitating network (user base) growth, increasing interactions with the system, tailored product development and personalization, onboarding, and faster adoption, facilitating API integration to our system.
How platform participants may acquire Golden Coin tokens:
- At admission, each applying member will have to acquire a number of tokens equal to a certain percentage of their turnover as reported in their most recent audited financial statements.
- Additional purchases will be allowed for existing members as per their needs subject to certain upper limits set by the Wise Founders
- Sale of goods and services on the platform, once a member is admitted will require a certain minimum part of the transaction to be settled in tokens.