Gold
Crypto Overview
Overview
Gold Retriever (GOLD) is a cryptocurrency that aims to provide exposure to physical gold through tokenization. The project claims to back each GOLD token with physical gold stored in secure vaults.
Purpose and Utility
The stated purpose is to make gold investment more accessible and divisible through blockchain technology. The token is designed to track the price of physical gold while offering easier transferability and storage compared to physical bullion.
Business Model
The project operates by maintaining physical gold reserves and issuing tokens that represent ownership of this gold. The business model appears transparent with clear documentation of gold storage and auditing processes.
Real-World Adoption
The project shows limited adoption at present, with most activity centered around trading on decentralized exchanges. While the gold-backing model is legitimate, actual redemption for physical gold appears to have minimal usage.
Platform Development
Development activity is moderate, with regular updates to the smart contracts and platform infrastructure. The team maintains active communication channels and provides regular updates about gold reserve status.
Token Distribution
The token distribution appears relatively balanced, with no concerning concentration in founder or team wallets. There are clear vesting schedules for team allocations.
Crypto Impact
To assign a comfort level investing in Gold 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 Gold.
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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