FAQs

These FAQs are published here  to help investors understand our project

Why is the GramGold token ie GGT not backed 100% by Gold?

Our token, GGT is 10% backed by goid initially. This percentage will rise over time as the GGT token becomes more established and we become established on the global scale. It is not possible to have a token 100% backed by Gold for many reasons, not least the cost of buying/storing/shipping gold. Any investor should be vary wary of any scheme claiming that their token is 100% backed by gold.

What you are proposing is a massive undertaking How can I be sure this will succeed ?

There are no guarantees of success anywhere in life With this project and any other any potential should examine the facts and weigh up the risks. Consider that firstly we are not a start-up ICO and have a proven track record in the business sector we operate in. The GramGold  project is a natural extension of our operations. We have clearly examined the global need and demand for  more honest, transparent and fairer gold markets whether for buying or selling, in local communities or on trading markets . The five  key elements of the GramGold project ie the GGT token itself,  the Augram scheme (buying /selliing storage of gold), the  Audex (decentralized trading exchange), the Gramgold ATMs for recycling gold scrap and the GramGold Foundation are all designed to meet these identified global needs;  ie the need to be able to buy gold at fair market prices without fear of being ripped off or  scammed in the many ways we have outlined AND the need to be able to sell gold, whether in the form of scrap jewellery right through to bars and coins at the best possible market rates.

What is The GramGold Token ?


GramGold token (GGT) is a custom token developed on the Etherium blockchain as an ERC-20 Token. Besides being a tradeable asset it is 10% backed by Gold & will be used to fund, the AuGram Scheme, the Audex, the GramGold ATM and the GramGold Foundation. The percrentage of gold backing will increase in the future to 50% and 95% depending on the success of the GGT

What is the Augram Scheme ?

Quite simply its a gold purchase sale and storage facility. The AuGram scheme will facilitate the ownership of gold to our investors at correct, not over-inflated market prices & will enable consumers globally to buy, sell & store gold using cryptocurrency. So if you use our ATMs (see below) to buy gold from, the gold will be sold by us at the right, fair market rate, and stored by us on your behalf in secure insured vaults. If you buy the GGT token, 10% Gold on top of your token purchase will be stored on your behalf, in our vaults, yours to keep or sell at any time . The long-term  objective of the Augram scheme is the construction of wholly-owned GramGold bullion vaults, in the UK

What is Audex?

Quite simply its a decentralized gold  trading platform, linked to the Augram scheme.  The Audex decentralized gold/cryptocurrency exchange.will be set up via smart contract  to allow GramGold token holders and eventually any cryptocurrency holder to buy sell and exchange tokens and cryptocurrency on a decentrailzed trading exchange that will “scrape and aggregate daily gold prices from the major gold markets around the world without the penalties of heavy trading fees  Gold & precious metals bought will be stored via the Augram scheme and can be sold from there also.

What is the the GramGold ATM ?

Simply put its an ATM that consumers can use to sell there physical gold at the best market prices. its worth remembering as have pointed out in the Whitepaper, that this market alone is worth $50billion annually .We are developing the GramGold ATM to ensure the customer receives the right price when buying & selling Gold. The only way to reduce the over-long & corrupt precious metal purchse & supply chains. Any customer will also be able to buy gold via the ATM, through the Augram schem and trade it on Audex.

What is the GramGold Foundation ?

The GramGold Foundation (The GGF) will not only promote all Gramgold schemes, including the Augram scheme, the Audex and the ATMs together with good buying/selling practices globally, ie to consumers and local economies alike, it will also provide training, & support to candidates selected to maintain the GramGold ATM. .
Why is there no Soft Cap in the ICO ?

As we are buying and storing gold on behalf of purchasers at the token sale stage and as we will be undertaking all developments as outlined in this white paper anyway a soft cap is simply redundant in this case. How far we get with our projects will be up to purchasers.

Your team looks small for such a large project . Why is this ?

Much like as any blockchain grows, or indeed any organization,  our team will grow in line with the growth of the project . Many ICOs recently have stuffed their team pages full of advisers and personnel at the very beginning of the ICO only for investors to find out later on that personnel they have believed in and indeed invested in,  have either never worked on the project or have left. We have taken the opposite approach. Our team are currently  working on all aspects of the GramGold project and we are in talks with additional staff currently to meet future needs .

This Gold market revolution is a massive undertaking Do you have Government Support for this ?

No, there is no Government support schemes for this typoe of initiative however through our GramGold Foundation we will be in talk with local Governments and community leaders around the Globe, promoting the cause of the GramGold project generally and our ATMs specifically  . This project will succeed with the support of our investors.

How does the additional 10% Gold initiative work?

Whenever a registered purchaser buys the GramGold token from us i.e. after registration, three events take place. Firstly, they will receive the FULL amount of GramGold (GGT) tokens sent from us to their wallet Secondly upon receipt of an email from the purchaser confirming all relevant transaction details we will, within 48 hours of the email, purchase and store for them pure 24 carat certified gold at the rate of 10% of their total token spend for the relevant transaction, converted into dollar equivalent. The rate of ETH/USD conversion and then USD/GOLD conversion will be calculated on the day the Gold is bought using the ETH/USD & the relevant LBMA rate AM or PM for that day. The purchaser pays nothing for the gold which is stored by GramGold in an online vault on behalf of the customer. Thirdly GramGold will deposit the equivalent dollar or sterling value of the gold into a dedicated Bitcoin/Ethereum wallet to ensure that any mass withdrawals of gold are covered.