Jamie Thomson has just announced a “big one / massive one” – The Elysium Stablecoin!
Today, on VulCon 2 at Athens, Vulcan Forged CEO was making some big announcements and called this one a “Big one, massive one”.
The stablecoin is called GST and will be backed by real Gold, Silver, and Platinum. Yes, this is God’s money we’re talking about. After LunaTerra’s fall, there were huge concerns in the crypto community regarding stable coins.
Some would as “This coin is backed by what?”. Well, GSP is backed by real metals. Jamie said, “you can literally trade it for minerals – gold, silver, and platinum.”
“Tokenized Gold, Silver, and Platinum combined into one single token”
- Gold Token – 80%
- Silver Token – 15%
- Platinum Token – 5%
1 GSP will be equivalent and backed by the same amount of grams of gold, silver, and platinum. This way, the coin will be backed by real scarce minerals.
It will be validated and protected by the Chainlink Proof-of-Reserve protocol. Vulcan Forged has also claimed that it will be possible for you to exchange your GSP for Gold, Silver, and Platinum and receive the equivalent amount at your home address.
ElysiumSwap will offer trading pairs for Gold, Platinum, and Silver.