Regardless of whether you’re new to the cryptocurrency industry or you’ve been part of it for a while, there’s a very common comparison going on for many years – that between Bitcoin and physical gold.
In fact, many investors, including traditional ones, are calling Bitcoin “digital gold” because of the qualities that it brings to the table.
And while there’s a lot of merit to that statement, it’s also true that physical gold stands on top of a multi-trillion dollar industry that’s composing a range of thriving ecosystems. Gold mining is also part of it, and so far, it has mostly been kept behind closed doors for only the wealthy to access.
But blockchain technology is capable of changing that, and AIGOLD is here to make it happen.
What is AIGOLD?
Going through the project’s Gold Paper reveals that the main purpose of AIGOLD is to leverage cryptography and artificial intelligence into a system that’s designed to take the company’s Gold Recovery Project to new heights.
The Gold Recovery Project in the Bering Sea aims to extract physical gold from a designated area. The primary goal is to use an exploration recovery vessel (ERV) powered and integrated through AI, packed with state-of-the-art equipment to first locate and then extract gold from this area. The team claims that they have been studying ancient channels of the Bering Sea for years and that they are loaded with placer gold at various depths. The Founder of AIGOLD stated “we know where the gold is and how to get it out, with the use of Artificial Intelligence and the right equipment we are going to revolutionize mining!”
That said, the AIG token is going to play a very important role throughout the entire ecosystem. It will allow the team to leverage both artificial intelligence and blockchain to drive growth as the physical gold extraction operations progress.
The Specifics Behind AIG: Buy’Sell Tax Reward System
While the purpose of the token is to underpin the entire ecosystem while also powering up the operations, it does come with some specifics to take note of. Namely – the buy/sell tax reward system.
It claims to be the only cryptocurrency to offer an automatic buy/sell tax reward that is paid out in PAXG. AIGOLD rewards its investors with a 5% share of every buy and sell in PAXG sent out to every wallet. The Team has built a tax reward system solely for the benefit of their investors to thrive. This is their breakdown: 6% buy tax: 5% rewards in PAXG, 1% goes towards Marketing, and on the sell side, there is a 9% tax, which 5% goes towards investors, 2% goes towards marketing, and 2% goes to the Liquidity Pool for healthy trading.
What you need to know about PAXG is that it’s a gold-pegged stablecoin backed by actual physical gold stored in LBMA vaults in London. It’s managed by a well-known company called Paxful.
Once the token is launched, PAXG will become an automated buy/sell tax reward coded in the protocol’s smart contract – there is no direct or official affiliation with Paxful.
Payout of PAXG is built into the AIGOLD smart contract so that of the 6% buy tax, 5% is split among the AIG holders. Of the 9% sell tax, 5% is once again split amongst them.
The team says that this mechanism is being implemented in a way where the tax amount goes toward purchasing PAXG from the official PAXG smart contract and then is distributed to wallets that hold AIG. You can find more information on the official AIGOLD website.
In terms of utility, the team claims to have identified one of the largest deposits of gold in the Bering Sea, which supposedly holds the potential to yield wealth.
In essence, simply holding AIG tokens is a way to achieve exposure to physical gold. The team has recently announced that they will host a presale, which will have two seed rounds and 12 different stages.
CyberTruck Giveaway
AIGOLD is also hosting a contest where the grand prize will be a Tesla Cybertruck. The contest is simple: the person with the most entries wins the Cybertruck! The contest will end on Dec. 25th and the results will be made public on NewYears eve. There are also 20 prizes, which start with $10,000 paid out in AIG tokens and more.
For all the information, take a look at the AIGOLD.io official website.
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