Golden Resources-Decentralized Online Platform for Mining Gold
Golden Resources is Decentralized Online Platform for Mining Gold on The Ethereum Blockchain
Golden Resources is a decentralized online platform that allows any private investor to directly invest in gold mining on prospective sites. The pilot site will be the Lysogorskoe deposit, an underground mine which has already produced 80,000 ounces (2.5 tons) of gold. According to the White Paper of the project, investors of Golden Resources purchase GDR tokens.
This currency is secured by gold in the ground, linked to the Troy ounce of gold. The price of one ounce of gold to the participants of ICO Golden Resources will cost, on average, $ 400 less than the market value.
The creators of the project are obliged to proceed to the redemption of the tokens as early as 2019, and not at the price of the ICO, but at the market price on the day of the return purchase. Pre-ICO project started on February 27 and will last a month.
ICO project will start on April 12 and will last until June 12. On the main wave of ICO, the project intends to raise $32 million for the planned launch of the project. Up to 90% of the funds will be spent on mine reconstruction and gold mining, 10% on marketing and maintenance of the project team. Hard Cap is set at $35 million.
The token’s value growth is possible due to the increase in demand. The number of tokens is limited. All funds transactions within the platform are made in tokens.
The GDR tokens demand will grow with an increasing number of partner companies (mining enterprises, manufacturers of crypto-mining equipment, jewelry production, stores, etc.), the volume of funds and the number of transactions within the platform.
All investors of the project receive their benefits in proportion invested finances. Each new partner increases the platform stability, reduces the token volatility, any kind of cryptocurrency speculators naturally migrate from the project, the token reliably enters the turnover of the largest exchanges.