Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Metal Block ⚡ A Token Backed by Gold ⚡
by
bittraffic
on 07/03/2020, 13:50:45 UTC

Don't get me wrong for I'd just be asking. Isn't projects like pegged by gold often a scam?

Several projects like this in the past had been subject to being centralize that whenever there is the need for audit, the centralize nature of it will cause doubts to its investors.



How do we Work
For every token, we have equivalent reserve of gold with the license for 100 hectars. The token is issued with total supply of 5,000,000 tokens to give investors the opportunity to invest in this project at a big discount in order to help us facilitate the gold mining processes. 1 MTBK = 0.02 grams of gold, which is approximately 1$.

There is no way we can verify reserve gold and hectars in the contract where it physically exist of not, which is why its going to fail.