RE: LeoThread 2025-02-23 00:00
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You have to have actual Gold, and prove that each Unit of the token can be traded for its equivalent of the Gold you have. The easier the trade can be done, and the more trustworthy you are, the closer your token would be linked to its Gold peg.
This practically impossible for any small business to do, but you could try.
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So, in the beginning I have to make plan for how to peg the token with gold so it can remain balanced. So, I can create 2 wallets 1 with the tokens and one with the USDT equivalent to gold quantity of certain weight.
I think that could work, but how do you want to keep the amount of USDT equivalent for Gold always following the Gold price?
That's worrying question! Because, we always need to buy USDT equivalent to Gold if prices fluctuate. To address this issue we can buy gold using an online exchange and keep that as a benchmark for pegging. Or a pair of USD/Gold