The Design of AUS & AGS
Gold & Silver Standard (AUS and AGS) are digital tokens backed by allocated gold and silver bullion already secured, insured and audited in a high-security Australian vault.
If you own AUS or AGS, you own the underlying physical metal, held in custody by the Gold Silver Standard Custodian (GSSC Pty Ltd).
- $0.00 on transfers.
- $0.00 for storage.
- Low margins.
A leading Australian law firm has deemed that these tokens are not considered a security and therefore can be freely traded on any exchange.
AUS and AGS ARE NOT a security, therefore can be freely traded on any exchange.
A secure but publicly viewable database maintains a record of:
- All bullion bars secured
- Each bar’s serial number
- The transaction ID (TXID) for when the tokens for that bar were minted – bar entered
- The transaction ID (TXID) for when the tokens for that bar were burned – bar removed
A portal (via Etherscan) to the contract address allows anyone to view the number of tokens on issue. Therefore at any time, anyone can interrogate the blockchain to verify that the circulating supply of AUS and AGS equals the amount of gold and silver held my the Gold Silver Standard Custodian.