Gold Backed Crypto (OneGram)

Hello All,

I wanted to talk about a crypto currency that is backed by more then the technology and developers designing it. A crypto currency that is actually backed by a tangible asset - GOLD. Onegram caught my eye because it takes into consideration the Islamic Market.

• While the 1.6 billion Muslims make up over 23 percent of the world population, many Muslims simply can’t use cryptocurrencies because of their restricted legal status and high barriers to entry in many countries in the Islamic world.
  OneGram aims to solve these issues by using blockchain technology to create a new kind of cryptocurrency, where each coin is backed by one gram of gold at launch.
• In addition, each transaction of OneGram Coin (OGC) generates a small transaction fee which is reinvested in more gold (net of admin costs), thus increasing the amount of gold that backs each OneGram. Therefore, each OGC increases in real value over time, making OneGram unique among cryptocurrencies.

Sharia and Islamic Finance

• Sharia is a set of religious laws derived from the Islamic tradition, in particular, the Quran and Hadith. It includes principles that guide the financial, economic, legal, and domestic affairs of Muslims.

• Islamic finance prohibits unjustified enrichment, as well as engaging in transactions with excessive risk or speculation (such as gambling), in order to establish justice and avoid exploitation in business transactions.

Money According to Sharia

• OneGram is a comprehensive Sharia compliant product and follows the three basic criteria for trading in Islamic finance: There is no interest mechanism in the issuance of OneGram, profit-loss sharing is part of the rewards scheme, and there is minimal speculation as OneGram is an asset backed by physical gold.

Benefits of Investing in OneGram

• Limited Downside Unlimited Upside

• The history of fiat currency is a history of volatility. The average lifespan of fiat currency is only 27 years old5. Even if a currency survives, invariably it will experience inflation. With central banks having the power to print as much currency as they please, combined with the destructive effects of inflation, the purchasing power of fiat money experiences a steady decline.

• The world’s oldest fiat currency, the British pound, is an excellent example: it has lost 99.5 percent of its value since inception.

• No currency can guarantee absolute stability, but OneGram limits your exposure to the downside risk. Since the base price of OneGram is always at least equal to the spot price of gold, OneGram has a floor price.

OneGram 3-Part valuation system to determine market price.

• The first part is the Gold Value (GV), with the value being determined by the spot price of gold.
• The second part is the present value of the transaction fees reinvested to buy more gold (TF), with the value being determined by the usage of OGC.
• The last part is the Demand Premium (DP), with the value being determined by market demand.
• This creates the following formula for the market price: OneGram Value = GV + TF + DP

Growth With Every Transaction

• Each OneGram transaction generates a 1% transaction fee, up to a maximum of 1 OGC. 70% of this fee is reinvested to buy more gold and increase the amount of gold that backs each token. As transaction volume increases, more gold gets added to the vault and all OneGram owners share in the profit. So, over time, the value of each OneGram rises by design. This makes OneGram a unique asset whose value increases perpetually. 25% of this fee will be used for development
  & Operations. 2.5% will be donated to Charities and 2.5% will reward miners (POS staking).

• Following the ICO, the OGCs can be bought, sold and traded via any major cryptocurrency trading platform.
  A new payment gateway, YalaPay, will be launched for OneGram Coins. Besides fiat conversion, YalaPay will include marketing tools such as a white label loyalty program for merchants, featuring special offers, and discounts for customers. The model will be first introduced in Dubai and Abu Dhabi, with the payment institution license already in place.

• A GoldGuard Mastercard debit card (“Liquid Gold”) will also be created, which will work across the globe in ATMs, POS systems and online. It will be possible to recharge the Liquid Gold card with Fiat, OGC or Gold through our payment gateway, online or through GoldGuard ATM machines.

How to Purchase??

• The OneGram ICO will take place on the GoldGuard gold exchange.
• The first step to participate in the ICO is to register with GoldGuard and purchase gold. Then the gold can be redeemed for OGC via the same platform. There is a fee of 10% charged during the purchase; this fee is expected as by purchasing OGC, the investor is not only purchasing an asset that offers the spot value of gold but also the future value of additional gold to be purchased from transaction fees.
• The maximum supply of OGC is 12,400,786. The ICO starts on May 27th, 2017, and will end when all coins are sold or after a maximum of 120 days. If the tokens do not sell out, there will be a new total supply of OGC equal to the amount of OGC sold in the ICO. After that, no more coins will ever be issued.
• At any given moment, you can see the amount of gold backing your coin in the official OneGram wallet app and the GoldGuard website. Through GoldGuard, you are able to redeem your coins for gold or equivalent fiat currency. After the ICO, you will also be able to buy and sell OneGram Coins through any cryptocurrency exchange that lists OGC.