GLDT
Crypto Overview
Overview
GLDT (Gold Digital Token) is a digital currency that claims to be backed by physical gold at a 1:1 ratio, with each token representing 1 gram of 24k gold. The project is operated by GLDT Foundation and launched in December 2023.
Purpose and Utility
The stated purpose of GLDT is to provide a digital representation of physical gold ownership, allowing users to trade gold-backed tokens on the blockchain. The gold backing is claimed to be stored in secure vaults and regularly audited.
Business Model
The token operates on the Ethereum blockchain as an ERC-20 token. The business model involves users purchasing tokens that represent ownership of physical gold, with the ability to redeem tokens for physical gold through specified processes.
Real-World Adoption
As a relatively new project, GLDT has limited adoption so far. Trading volumes are primarily concentrated on decentralized exchanges. The project has not yet demonstrated significant partnerships or widespread usage.
Platform Development
The project maintains basic smart contract functionality for token operations. Development activity appears minimal but sufficient for the token's basic purpose of representing gold ownership.
Token Distribution
Token distribution information indicates tokens are minted based on gold deposits, though detailed allocation data is not publicly available.
Crypto Impact
To assign a comfort level investing in GLDT from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to GLDT.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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You can change your vote if you change your mind.