Gold backing 1 GCT
- GCT = - Gold
What is GCT?
GCT is a physical gold backed standard Ethereum token. It can be transferred around and integrated into other dapps like other tokens. Please refer to our whitepaper for more information regarding how this fits into our vision and Ethereum's landscape.
What does Beta mean?
Beta is a stage of product development. In this stage, the core functionalities are in place but bugs and changes can be expected. This is a good opportunity for partners, integrators, Ethereum users and us to familiarise with the platform and report any bugs for fixing before going to the next stage and scaling up. Real value is used in this Beta and could be lost. There will also be a cap on total GCT to limit potential losses.
Where is the GCT smart contract located?
It is on the Ethereum mainnet, at address
Where is the gold stored?
Physical gold is stored at BullionStar, Singapore’s premier bullion dealer, under their Bullion Savings Program. Their vault is located in Singapore. Gold are allocated and for multiples of 100 grams, they can be converted to 100 grams PAMP .9999 gold cast bar.
What can cause the gold backing each GCT to change?
The gold backing each GCT is the ratio of total physical gold over total GCT. This ratio is initially set at 1 so 1 GCT represents 1 gram of gold. As storage fees accrue, the physical gold will be reduced while total GCT remains the same, reducing this ratio. Creating or redeeming GCT does not change this ratio.
Where can I buy and sell GCT?
GCT can be exchanged for ether primarily at our Token Auction.
How can I transfer GCT to someone else?
Like any standard Ethereum token, they can be transferred by most clients by adding GCT address
0x560c5528ff9886d83Ae117845B180E6DCF6B5175 as a token.
Where can I see my past transactions?
You can use EtherScan.io and filter by your address to view your transaction history.
Who controls the GCT smart contract?
Although GCT is a smart contract, it is not fully autonomous. CodeTract have access to GCT's admin controls.
What are the fees?
There are no additional fees other than gas for miners and physical gold storage fee of 0.09% per year charged by BullionStar.
I made a mistake, what can I do?
Due to the nature of public blockchains, transactions are not reversible. Check every transaction carefully before signing.
I found some bugs, where do I report them?
Please open an issue at our Github and we will look into fixing them.
Where can I get support?
Which data source are you using to display GCT stats?
They are powered by Infura.
How can I receive updates regarding CodeTract?