Gold Tokenization as a Service on Ethereum with Autonomous Redemption
A Decentralized Central Bank for Gold?
Central Banks will create CBDCs (Central Bank Digital Currencies). But gold, as things stand, will exist in this new era of digital currency as many disaggregated and idiosyncratic digital gold tokens. This impairs gold’s future prospects for adoption in the digital money era compared to CBDCs.
ERCAU changes this.
As this whitepaper explains, RAU is gold’s equivalent of a CBDC and ERCAU is gold’s equivalent of a Central Bank (or Decentral Bank as we have coined it). ERCAU is a service that any Partner - from a small vault to a central bank - can use to tokenize gold.
ERCAU is the future of gold.
Everything you need to know about the ERCAU launch.
What does RAUX do?
RAUX grants holders a share of ERCAU profits from the two revenue streams described in the Gold Paper, and will later be used as a governance token on ERCAU DAO.
Why did you launch with Degen Labs?
Degen Labs was the right choice because the proponent did not want to deal with venture capital nor have such investors pulling the strings in the background of such a decentralized project so critical to the debate of protecting people's wealth in uncertain times for money.
What is your roadmap
The roadmap has three main parts (and yes a fancy graphic and Medium article is in the works). A great deal of work has already gone into the ERCAU smart contract specs. And four different regulators have been consulted on the project. The smart contract will be built next. Concurrently, potential initial partnerships will be explored.
If Goldtoshi is hands-off who's running ERCAU?
Initially Degen Labs is driving ERCAU including managing smart contract developers.
Where can I buy RAUX
What is the total RAUX supply and how much is locked?
What is the total RAUX circulating supply?
500,000 RAUX (See Unicrypt for locked supply)
Are project tokens locked?
Yes, the proponent's 10% are in the LP and locked in Unicrypt for six months. The project's 40% are also in the LP and locked with a 24-month period with quarterly releases of 50,000 starting in 3 months’ time.
What is the difference between RAU and RAUX?
RAU represents 1 ounce of pure gold. It is minted and burned by ERCAU as gold is deposited and retrieved respectively. RAUX entitles its registered holders to a share of ERCAU profits and in the future it will be the governance token of the ERCAU DAO.
Why is this project important?
People should be able to utilize their gold in the digital currency age. However, if future Central Bank experiments in money fail, people should be able to retrieve their physical gold in order to protect their wealth.
Whose idea was ERCAU?
Describe your project in one sentence
Gold tokenisation as a service built on Ethereum with autonomous redemption.
What’s one thing readers don’t know about your concept
The Ercau smart contract locks all competing gold tokens over time. Please see the Gold Paper to learn more
Where can I learn more?
In the Gold Paper
The future is digital. The world's gold must be tokenized. Either we see endless "tokens" backed by this or that holding all vying for liquidity and adoption, or everything converges on a single solution for tokenizing it all.
The ERCAU smart contract acts like a service for anyone who wants to tokenize their physical gold - from an individual to a Central Bank. Once gold is independently secured, RAU tokens are minted. This token will be tradable on exchanges turning illiquid physical gold into a liquid token.
ERCAU is an Ethereum smart contract and RAU an ERC20 token. RAUX entitles registered holders profits from ERCAU's two revenue streams. The ERCAU smart contract mints and burns RAU as gold is deposited with Partners and retrieved by Users