Thursday, December 9, 2021

Gold Standard DAO | Real Project | IDO whitelisting ending today | Active Community | High Staking APY for early DAO holders| First Fork of Olympus DAO Backed by Physical GOLD Assets

🔥🔥 IDO on for the next few hours 🔥🔥🔥

GSD is a fork of Olympus DAO backed by real Gold and other assets. It pays staking high APY and integrating game changing features in V2

The core team members are anonymous, however they are working in conjunction with LODE ONE and SYSCOIN FOUNDATION ensuring each GSD is backed by real world asset the GOLD in our highly secure vault.

Why Gold?

Long-term price stability has been described as one of the virtues of the gold standard.

Gold retains its value not only in times of financial uncertainty, but in times of geopolitical uncertainty. It is often called the "crisis commodity," because people flee to its relative safety when world tensions rise; during such times, it often outperforms other investments.

Over time, fiat currencies – including the US dollar – tend to fall in value against gold.

The goal is to offer this long term price stability gold provides, coupled with Gold Standard DAOs groundbreaking financial technology, giving participants positive rewards. Let’s analyze this a little deeper.

Monetary policies started with us trading rocks and all sorts of things for medium of exchange we do not use today. We tried paper currency not backed by anything and then resorted to backing treasury with gold in 1879 followed by repatriation in 1934. The standardness of gold for a store of value is a great example of converting an NTU (non-transferable utility) game to a TU (transferable utility) game.

Why use issued gold/silver token receipts instead of algorithmic gold?

It is an interesting thought that we can simply use an algorithmic price correlated instrument to the physical market for gold/silver to represent the treasury. However when thinking about NTU, a digital representation of the price of the physical element is an indirect form of NTU and likely detracts from the quality of the treasury itself, possibly reducing the confidence in the long term stability of the TU token. A direct receipt that can be used to extract the physical delivery of the NTU is desirable. This also comes at a cost of the issuer that is a point of contention in the logistics of an autonomous system. This is rebutted in a few ways:

  1. Align incentives for honest behaviour through game theory to prevent the issuer from stopping delivery for receipts. They would stand to benefit from the success of a DAO taking in the receipt as a form of NTU to create TU which pays out interest. However corporations can become irrational so on to the next point

  2. Create NFT based receipts that have nano-marker information that is captured on the physical delivered asset. This will make the physical metal traceable and deterministically owned by a digital token. This is an IoT and Nano technology innovation that is close but not possible today so point 3

  3. As more awareness happens and the DAO becomes adopted, stricter auditing and processes will be put in place to prevent any liveness issues related to delivery of assets. This is possible today

  4. The treasury is backed 1:1 with the output itself and so in the extreme event of collapse the physical assets should cover the depositories 100%. This prevents the issuers from creating fractional systems themselves on deposits of physical assets to cover costs of procurement, insurance and storage of the asset. The issuer itself can partake in the system themselves and earn enough to cover any costs. This is possible today.

A combination of any or all of these would prevent dishonest behaviour and create a system that dynamically adjusts, stays aligned with the end goal of a stable TU money. Governance always has the option to change the treasury to a different issuer or instrument if the collective believes in adding, changing or removing certain assets. A basket of treasury assets would prevent disruption since it is unlikely that many assets would be added/changed/removed at once.

Is GSD a stable coin?

GSD is not a stable coin, but rather a floating algorithmic reserve currency backed by gold. Similar to OHM in OlympusDAO, upon which the Gold Standard DAOs architecture is based. It may end up being served as a money instrument and thus a form of pseudo stable coin in the long term as inflation drops with the correlation of a high total value locked (TVL).

The purpose of Gold Standard is to create an ecosystem that provides perfectly balanced exposure to growth coins in a way that goes far beyond simple indexed currency baskets.

The Gold Standard DAOs ecosystem will allow you to invest in assets along the entire risk spectrum with minimized volatility and downside exposure, while enjoying high returns.

This is a first-in-class reduced risk asset that is not pegged to the US dollar.

The Gold Standard DAO has a pipeline of assets and protocol features that will create new, safer DeFi investing opportunities.

Network in use:

Gold Standard will be on the SYS platform for the following benefits:

Syscoin is a strong complement to both Ethereum and Bitcoin. Syscoin will be implementing layer 2 Zkrollup technology and Gold Standard DAO will be the first layer 2 dao in existence.

It resides between both chains. For example, by using wrapped BTC you can go to Syscoin and effectively have the same security as Bitcoin but much cheaper and faster using trustless methods to cross chains.

Syscoin’s value is in its security, speed and close ties to the Bitcoin codebase with scalability in mind and flexibility of the Ethereum chain through the aforementioned Bridge.

Syscoin focuses on simple value transfers on-chain with off-chain solutions for things like DEX’s, payments and other simple smart contracts using the mainchain as a court repudiation system as it is the only way to scale globally whilst remaining decentralized as Bitcoin.

How to participate

Interested participants are required to fill in the whitelisting form. Following the whitelisting form all successful applicants will receive an email with instructions to proceed further once the selection process is completed.

The confirmation email sent to all applicants will also include the KYC process and the IDO confirmation form. Please note that the amount pledged must be used to purchase LODE’s digital coin, AUX before members are able to contribute to the IDO (links will be provided with instructions).

Tokenomics

Hardcap is at 2M, and that is assuming that all IDO spots are filled, and everyone is contributing $4,000 USDC.

There is no soft cap either since we are partnered and backed by Syscoin Foundation and Lode One (precious metal backed cryptocurrency company)

All future sales will start at a higher price as Gold Standard DAO moves forward with the development. Gold Standard DAO are also looking to incorporate more features to improve our protocol.

They have a max supply of 200,000 GSD, therefore our FDV is 8 million. In which 50,000 GSD will be used in IDO

This is an easy x20 - x100+ since we have OHM, Time, KlimaDao all sitting at 600 Million plus MC and Gold Standard Dao has real backing by real company specialising in vaulted bullion and precious metal

Twitter: https://twitter.com/GoldStandardDAO

Discord: https://discord.gg/VWGFhHbAPg

Website: https://gsdao.org/ Work in progress. Coming soon!

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