Project Name: Ponte Gold
Ticker: GOLDP
Website: pontegold.com
Twitter Account: twitter.com/PonteGold
Whitepaper: Click here for the whitepaper.
What Is Ponte Gold (GOLDP)?
Ponte Gold (GOLDP) was launched with the aim of becoming a pioneer in technological transformation where financial assets moved from difficult-to-transfer precious metals and banknotes to secure databases. With GOLDP, a digital asset based on 100% gold using Ethereum technology is put at the service of the investment world. GOLDP does not only combine 21st century technology with traditional investment tool gold but it also makes it cheap and easy with its technical infrastructure developed to spread the investment to the whole society. Thus, GOLDP brings together gold bars in LBMA (London Bullion Market Association) standards with investors in a safe way by taking into account national and international legislation.
What Does Ponte Gold Offer?
Basic Features
GOLDP is a digital asset, and each GOLDP Token is equivalent to 0.01 gram of gold. The physical gold used as the underlying asset consists of globally recognized standard gold bars, which are produced at 0.995 purity level by LBMA-accredited refineries. The physical gold for each token is held in Loco London correspondent bank accounts through Golden Global Bank or in the vault of Borsa Istanbul Precious Metals and Diamond Markets.
Storage Conditions
The gold equivalent to each GOLDP is accounted for in the vaults or bank accounts of Ponte Global, and the gold collateral given to Golden Global Bank is kept in Loco London correspondent bank accounts through Golden Global Bank or in the vault of Borsa Istanbul Precious Metals and Diamond Markets. Unique registration documents are created through the BIST Connect platform for all gold bars held in Golden Global Bank accounts.
GOLDP has more features, and these features are:
Transparent
All GOLDP transactions can be viewed on the blockchain. The GOLDP Ethereum contract address on the Ethereum blockchain is 0xaA2636dd8535ef02926D818670c44A07d707014E.
Available 24/7
GOLDP can be bought, sold or transferred in all cases where traditional gold markets do not allow transactions.
Zero Cost
Unlike traditional gold products, GOLDP does not charge investors the costs of custody, ownership, transfer, or management of assets.
Liquid
Ponte Global assumes the role of a market maker until a certain market volume is formed to ensure liquidity and carries out trading operations to prevent the formation of differences between the spot gold market and the token price that will disrupt price stability.
Convertible
Investors can request physical assets equivalent to their GOLDP by contacting Ponte Gold via www.pontegold.com or convert their GOLDP to Turkish Lira through digital asset platforms.
Price Stability
GOLDP tracks spot gold market prices. By assuming the role of a market maker, it prevents investors from being exposed to large margins.
Economical
GOLDP offers its investors the opportunity to buy GOLDP Tokens equivalent to 1% of gram gold, allowing them to invest even with a balance below $1.
Reliable
The gold equivalent to the digital asset generated are secured through Golden Global Bank and will be physically held in Loco London correspondent bank accounts through Golden Global Bank or in the vault of Borsa Istanbul Precious Metals and Diamond Markets. Golden Global Bank is a bank licensed by the Banking Regulation and Supervision Agency of Türkiye and is in compliance with the relevant regulations and laws of the Republic of Türkiye.
Ponte Gold’s Technology
GOLDP is built on the Ethereum blockchain with smart contracts. The Ethereum Virtual Machine (EVM) is an algorithm that powers the Ethereum network and runs thousands of computer hardware around the world. EVM is a working environment for smart contracts. EVM is the mechanism that runs Ethereum Bytecodes, which exist independently within all Ethereum nodes. Ethereum contracts are created with advanced programming languages like Solidity and translated into Bytecode, a simpler programming language. Because Bytecodes are distributed to all nodes, contracts always work the same way. Because the codes and information on all nodes are the same. Any program can be freely developed with the EVM. During the development process, a gas fee must be paid.
Features of Ponte Gold Smart Contracts
The GOLDP smart contracts are built for compliance and to achieve maximum efficiency. The GOLDP smart contracts have the following features:
Blacklist: If violations of money laundering rules, stolen digital asset scenarios and other suspicious activities are detected, GOLDP can stop deposits and withdrawals by adding the relevant wallet addresses to the blacklist.
Minting GOLDP: If the conditions specified in the GOLDP whitepaper are met, new GOLDP digital assets can be produced on the Ethereum blockchain.
Pausing Contract: A smart contract can be paused in possible high-risk situations.
Burning GOLDP: If the conditions specified in the GOLDP whitepaper are met, the existing GOLDP digital assets on the Ethereum blockchain may be reduced to provide the physical gold equivalent.
All the details can be seen on the Ethereum blockchain at the contract address 0xaA2636dd8535ef02926D818670c44A07d707014E.
The Ponte Gold Team & Company
Ponte Global Industry and Foreign Trade Corporation started to operate in 2016 with its experienced staff on precious metals trade and took its place among the players of the global gold market in a brief time. With the vision of leading the mobile transformation of financial markets, Ponte completed its infrastructure preparation by increasing its equity capital by 500% in 2020 to invest in digitalization. Ponte introduced the gold-backed digital asset GOLDP/Ponte Gold to investors as a “bridge” like its name “Ponte” that connects the global commodity market to technology.
Established in 2020, Golden Global Investment Bank is the only investment bank in Turkey operating on the principle of interest-free financing. It is also among the first seven banks to invest in innovative financial products, such as connecting to other banks or financial institutions through API, rather than the traditional arguments of global trade. Golden Global has set infrastructure works as a target since its establishment, especially in the field of fintech, and has become the solution partner of the gold-based token project GOLDP together with Ponte Global Industry and Foreign Trade Corporation.
Golden Global Investment Bank monitors the financial data and commercial activities of Ponte Global Industry and Foreign Trade Corporation. Golden Global Investment Bank has allocated a financing limit to Ponte Global to buy and sell PonteGold (GOLDP) digital assets, which Ponte Global has developed with Blockchain Technology and carried out the supply process based on gold, in accordance with market conditions. Within this limit, Golden Global Investment Bank declares that Ponte Global has the creditworthiness to meet its financial obligations in the purchase or sale of 10,000,000 GOLDp digital assets, which is the equivalent of 100 kilograms of gold.
Ponte Gold’s Digital Asset Economy
GOLDP is an ERC-20 token and can be stored in all Ethereum wallets that support ERC-20. The initial supply of GOLDP is 1,000,000 GOLDP Tokens. The supply of GOLDP can be increased or decreased. For each physical piece of gold added to the reserves, a new GOLDP asset is generated via the Ethereum blockchain.
Project Name: Ponte Gold
Ticker: GOLDP
Initial Supply: 1,000,000
Decimal: 2
Transaction Fee: 0
Each GOLDP Token is equal to the pieces formed by dividing 1 gram of gold into one hundred parts. Thus, a trader with 100 GOLDP owns a digital asset equivalent to 1 gram of gold. 1 GOLDP Token can be divided into a structure with a maximum of 2 decimals. (For example, 1.15 GOLDP.)
Ponte Gold Collaborations
The technological partner of PonteGold (GOLDP) Token is Bitexen Technology. Bitexen Technology is a whitelabel provider that has proven its success with fintech products and as a digital asset trading platform since 2018. Bitexen Technology is one of the leading platforms serving hundreds of thousands of users with its digital asset platform Bitexen.com.
