JPGold Coin a digital token backed with gold

Tokenomics: JPGold Coin a digital token backed With Gold

JPGold Coin a digital token backed With Gold.

 

What is Tokenization?

Tokenization is the process of transferring ownership and rights of physical assets into digital format. It enables the conversion of indivisible assets into smaller units called tokens. In this case of  jpgold coin the indivisible asset is gold.

 

JPGold Coin gold backing:

JPGold Coin is a digital token backed by gold from JaPaul LTD., a gold manufacturing company in Ghana that aims to make gold ownership easy and affordable. Though it listed in 2022, the JPGC was introduced in March 2021 with a successful presale stage. However, once it was listed on Latoken on September 15th, 2022, the tokenomics have to be modified based on the market response.

The JPGC is a hybrid token from the start. Formerly, gold certificates are issued dependent on the amount of JPGC tokens purchased. While the token can be sold on exchanges, the gold certificate is kept as an investment guarantee that can be converted for gold in Q3 2023.

 

JPGC New Tokenomics:

From Q2 JPGold Coin will be purchased straight through www.jpgoldcoin.com. Upon purchasing, a worldwide valid gold certificate will be issued as NFT with JPGC tokens. In the light of updating, 1g of gold is issued for $51 till June 2023 compared to $62.44 market price.

Gold Certificate NFT

These NFTs will be traded on Open sea. However, we encourage investors to hold unto their gold as it is certain that gold prices will keep rising.  In addition the JPGC management  is creating more use cases for the NFT.

JPGC Tokens

Whenever there is purchase of 1g of gold, 25 JPGC tokens will be issued. Upon every purchase of gold there is 1% transaction fee, this will be used to service the JPGC given the volatility of the crypto market.

Defi and Use Cases

As has been noted, there will be more use cases for the NFT and coin as the project progresses. At this time the nft can be sold at the prevalent market value of gold on NFT platforms. For instance if an holder sells 1g of its gold on open sea for $62, the original certificate gets updated immediately only the new buyer gets a newly minted nft. In time, the gold certificate can used as collateral and for lending. On the other hand partnerships are secured for JPGC to be used for gaming, though it will be the currency to purchase jewelery and other products from JPGold Coin by 2025.

In summary, the new tokenomics of JPGC states that to every 1g of gold there will be 25 JPGC plus 1% charge. All these updates will be implemented no sooner than Q2 2023. With all things considered, it is safe to conclude that the JPGold Coin is balanced against inflation and crypto volatility.

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