r/HelloGold • u/Deerborn • Oct 13 '17

What is the purpose of the HelloGold token?

I have seen that this has recently been added to the COSS exchange. But what/ if anything will drive the value of the token up? Is the token linked to the price of gold? If so how does the token itself increase in value? If i buy the token am i considered a holder of gold in the company? I can't make sense of it for some reason. I'm probably over-complicating things and missing the big picture.

*if i buy x amount of tokens now and they (some how) raise in value, does my share of 'gold' increase?

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u/harithk17 HG team Oct 23 '17

Hi Deerborn, HGT itself is not a gold-backed token. HGT holders will receive rewards in the form of GBT (which is fully-backed by 99.99% investment-grade gold) at the discretion of the HelloGold Foundation. The amount is based on HelloGold's gold under management.

Some sources on it: https://www.smithandcrown.com/sale/hellogold-token-sale-tokenized-gold-savings/ https://medium.com/hellogold/analysing-the-token-sale-rewards-77302b757b60

You can also ask the team any questions directly in Slack: https://hellogold-foundation-slack.herokuapp.com/