Hello.
I have read this sentence:
"This surplus quantity of gold is given to the community as Golden dividend increasing the quantity of all Xaurum"
on xaurumfoundation.com and particularly I can't understand how "gold is given to the community"?
Could you be more specific who is "community" and how it is "given"?
If I hold 100 xaurum tokens - am I a community member?
Will I get this "given" gold somehow (e.g.) by mail?
Who will cover my gold shipping costs?
If actually I won't receive this my "given" gold - but only increase / decrease my/community token supply - this is not actually giving something and certainly not gold.
Thank you for an explanations.
Hi.
Xaurum has growing gold quantity backing it. If you bought 100g of gold today, you will have 100g of gold after one year.
If you buy Xaurum for the same money, your quantity of gold will grow with time and will eventually surpass 100g of gold.
Remember, for Xaurum the gold value represents the liquidation price (lowest possible price), market price is higher.
As you can see, your lowest possible price is covered with gold and it grows with time.
When new mint happens, new gold is bought and new Xaurums are issued at production price.
Xaurum is backed by gold inside the range of 20%-30%. Because of this fact, 20%-30% of new gold is spent for backing newly issued Xaurums. The rest of the gold is put in the same stock and increases the quantity of all Xaurum.
Example:
We mint (buy) 10kg of gold, 2-3kg is used for newly issued Xaurum, the rest 7-8kg given to all issued Xaurums and increases the quantity if gold owned by every Xaurum.