Gold has been an essential financial tool for protecting wealth. However, the gold industry faces multiple challenges. Gold is bulky and faces logistical challenges when transported, it’s primarily institutionalised, bears many fees when trading and storing and faces the unique obstacle of guaranteeing and verifying quality.
These issues can be solved by using blockchain technology, IoT devices, and smart contracts to tokenize the entire gold value chain.
Hence, the IPMB Ecosystem - built around a dual-token model
Firstly, the hybrid payment/utility token IPMB is the most asset-backed token in the world. Every token is backed by a gram of gold.
Secondly, GeM NFTs. GeM NFTs are highly secure digital certificates that offer undeniable proof of ownership of physical investment-grade gold. GeM NFTs are a stablecoin product that provides the most accessible and affordable method to own responsibly sourced 24-carat gold.
The IPMB Ecosystem makes gold more accessible, affordable and traceable.
The IPMB Ecosystem
The most trustworthy, transparent, and first-of-its-kind vertically integrated gold supply chain that sets a new digital global payment and gold ownership standard. IPMB manages everything from sourcing raw gold to refining and storing investment-grade bars.
This allows IPMB to acquire gold at a discount, as opposed to the premium competitors pay, allowing IPMB to waive fees for our token holders such as storage, management, insurance and delivery that are usually passed onto the owners of the underlying gold.
All of the gold within the IPMB Ecosystem is audited regularly by the highly reputable third-party firm Grant Thornton.
The IPMB Token
A significant component of the IPMB Ecosystem is the IPMB Token, the ecosystem's hybrid utility/payment token, backed by audited inventories of gold, serving as the world's new global digital currency.
Each IPMB Token is backed by a gram of gold doré. Whilst each IPMB Token has a gram of gold behind it, it’s not pegged to the price of gold. The IPMB Token price floats due to many value considerations.
The main utility of the IPMB Token is the ability to stake your tokens to unlock a discount on GeM NFTs.
Staking IPMB Tokens can unlock a maximum benefit of an 11% discount on GeM NFTs, essentially an 11% discount on physical gold.
Multiple retailers and stores also accept IPMB Tokens. Vendors range from coffee shops to automobile dealerships.
GeM NFT
Another critical component of the IPMB Ecosystem and the dual-token model is the GeM NFT.
GeM NFTs offer direct access to tokenized gold.
GeM NFTs are minted and valued based on an allocated weight of gold. For example, a GeM100 offers ownership of 100 grams of 24-carat gold.
GeM NFTs can be redeemed for the underlying gold at any time after 12 months from the NFTs' minting date.
IPMB waives all fees associated with modern-day gold ownership, such as storage, insurance and management. On top of this, GeM NFT holders may also receive loyalty rewards in the form of physical 24-carat gold.
GeM NFTs are set to be released in Q2 2024.
Staking
The staking benefit for IPMB Tokens increases over time up to 12 months. The staking reward structure is as follows:
- 3-Months unlocks a 2% discount on GeM NFTs
- 6-Months unlocks a 5% discount on GeM NFTs
- 9-Months unlocks an 8% discount on GeM NFTs
- 12-Months unlocks an 11% discount on GeM NFTs
Basically, a 2% to 11% discount on investment-grade gold.
Goldtrace360
Goldtrace360 is a product designed to take all of the detailed records of the gold production supply chain and embed the details into GeM NFTs.
A key feature of Goldtrace360 is the amalgamation of blockchain technology, smart contracts and IoT devices.
These technologies maintain transparency in the supply chain and preserve detailed records within the metadata of each GeM NFT, enabling stakeholders, including consumers and regulatory bodies, to monitor and validate adherence to sustainability standards.
Goldtrace360 offers the most responsible and traceable gold on the market and is set to be released in Q4 2024.
About IPMB
The IPMB Ecosystem offers direct access to physical gold, allowing exposure to the stability of gold and the speed and security of the blockchain through a dual-token model.
Through this innovation, IPMB is striving to change the gold industry forever.
The IPMB mission is to provide the world access to unlimited economic freedom and opportunity, giving choice and control to accelerate a global transition to a low-cost, unified and transparent global currency.
‘From the mine to the vault, and in the cloud’, IPMB manages and operates physical gold production, sourcing, beneficiating, exporting, refining, stamping and vaulting of gold.
The IPMB Ecosystem is at the heart of the IPM Group, a group of companies spanning three continents and five countries.
To learn more about the project, visit the IPMB website or explore their communities.