1 GOLD token = 1 gram of gold 99.99 purity.
So interesting. Moreover, this is a stable coin, so the price will not drop drastically as the other new altcoins.
Does it mean that if the price of gold increases, the price of this coin will also increase following?
It is very rare to see the coin backed by this worthy thing, gold. I also ever saw a coin backed by the diamond, Glitzcoin, but that is not a stable coin.
What I know is that when global gold goes up, this token will also go up on the exchange because this token has real physical gold support, so whatever the price of gold happens, this GOLD token will also follow it.
And if I'm not mistaken, the supply of this token is not much, it's only about 7k plus it means that this token is very valuable if it has only 1 GOLD token.