In the future if XGR will be tradeable for Gold (or XGR purchased back using Gold funds) would the XGR be destroyed to maintain the same level of gold backing per coin?
When you trade a coin for cash and or gold then the receiver would own the coin. No need to destroy as it is not an end of line transaction.
In this scenario then the gold fund would own the coin and the only way the coin could come out into the wild again would be if more gold came in to replace it.
Or if the coin is destroyed then the gold backing per coin remains the same.
Just curious what the plans are for the coins being sold back to the fund.
The way it works is it goes from XGR to BTC to FIAT to Gold. XGR is sold at a price that someone is willing to buy it at the exchange.