What are Gold Pokens?
What are Gold Pokens?
Pokens – Pokens are Pegged tokens, where one unit of the token is equivalent to a unit of the underlying asset class it is pegged to.
XAU – XAU is the ISO 4217 standard code for one troy ounce of gold.
XAUp is brought to you by the team behind the very successful Populous Invoice Financing Platform (PIP) and the Populous Business Intelligence Platform (PXP) that is currently in open-build powered by the PPT (Populous Platform Token) and PXT (Populous XBRL Token) respectively.
Each XAUp from Series 2 will be sold at a discount of 9% to the rate of gold price for one troy ounce at the date of purchase. The discount is received upfront at the time of the purchase. The delivery date is expected to be twelve (12) months after the date of sale, where each XAUp must be exchanged for the equivalent of one (1) troy ounce of gold during the delivery date on the Populous World platform. On the day of the delivery, the purchasers are now entitled to one troy ounce of gold for each XAUp.
Physical delivery* of the gold can be arranged for the purchasers to receive the physical gold after the delivery date with 30 days notice. If no notice or an untimely notice is given, Populous World will liquidate the gold on behalf of the buyer to receive GBP Pokens on the Populous World Platform due to storage costs.
If the Gold price drops below the current price in which you purchased the XAUp, you will not be affected by the fall in price. Likewise, if the price of Gold rises above the purchase price of the XAUp, you will gain the benefit of the increase in the price of Gold. This is achieved via the invoice financing operations and hedging of Gold prices.
*Physical delivery of the gold will be given a quotation on delivery fees, insurance, shipping and handling costs. This can be more than the discount given initially and the costs are levied on by both Populous World and third-party providers.
Purchasing the XAUp allows the buyer to diversify cryptocurrency holdings as well as contributing to the success of the IF Platform.
Buyers will receive a 9% discount on gold price from the date of purchase and can opt to take delivery of the gold in twelve months from the date of purchase (with a month’s notice in advance from the expiry).
XAUp will further contribute to the success of PIP. The long delivery window allows PIP to scale effectively and generate profits from invoice financing activities while transferring that to the buyers of the XAUp via a discount.
The Series 2 XAUp is an ERC-1155 digital asset which is pegged and is equivalent to one (1) troy ounce of gold at the delivery date. ERC-1155 allows for each Item_ID to represent a new configurable token type, which may have its own total supply value and other such attributes.