VNX Gold
Crypto Overview
Purpose and Utility Analysis
VNX Gold (VNXAU) is a digital asset backed by physical gold, created by VNX Exchange. Each VNXAU token represents ownership of 1 gram of physical gold stored in secured vaults. The gold backing the tokens is reportedly secured in Liechtenstein.
Business Model Evaluation
The business model involves tokenizing physical gold to provide easier access to gold ownership and trading. The physical gold backing provides intrinsic value to the token, making it different from purely speculative cryptocurrencies. The model appears transparent with clear asset backing.
Real-World Adoption
While specific adoption metrics are limited, the token serves as a digital representation of physical gold ownership, allowing for fractional ownership and easier trading of gold-backed assets. The project operates under Liechtenstein's regulatory framework.
Platform Development
The token operates on the Ethereum blockchain as an ERC-20 token, leveraging established blockchain infrastructure. The platform maintains relationships with licensed precious metals dealers and vault providers.
Token Distribution and Founder Analysis
The token supply is directly tied to the amount of physical gold held in custody, with new tokens minted when gold is deposited and burned when gold is withdrawn. This creates a transparent and asset-backed token economy.
Crypto Impact
To assign a comfort level investing in VNX 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 VNX 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.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.