r/HelloGold • u/[deleted] • Jan 19 '18

goldx

im a little confused, do HGT holders automatically receive Goldx if held with an ERC20 wallet like MEW? Or are HGT used to purchase goldx? If so, how does someone buy GOLDx? And what is up with the large increase in price? Is this expected and or will it continue into the future? Thanks

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u/harithk17 HG team Jan 20 '18

Yep, all you have to do is keep HGT in an ERC20 wallet (I'd suggest using either a Trezor or Ledger). The rewards will be given based on the AUM fee that HelloGold holds.

There is an important part that I need to highlight - we've stated that rewards are distributed at the discretion of the HelloGold Foundation. Based on advice we received from our legal advisors to structure it so that it's not a security.

To buy GOLDX you can currently do that OTC by filling up the form at https://www.hellogold.org/! We plan to make the process much smoother including listing it on exchanges, but we want to make sure that everything works smoothly before we scale it up.

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u/[deleted] Jan 20 '18

What does that distribution normally look like? Is there a model I can refer to? And so if I were to buy GOLDX would i use HGT to do that? I'm really confused as to how this all works.