GoldMint aims to issue and administer the turnover of gold-backed cryptoasset pawn shop loans. The project comprises:
- Crypto asset GOLD, with a price equal to the current value of a 999 sample troy gold ounce on the CME exchange.
- Utility token MNT (P), which has various applications within the GoldMint ecosystem.
- MINT high-speed blockchain network, using a proof-of-stake algorithm for consensus.
- CUSTODY BOT robotic repository, equipped with a diagnostic system for jewelry items.
Uses cases for the MNT(P) token include:
- Pawn shops using a Custody Bot need MNT(P) tokens to record information about pledges in the MINT blockchain.
- Having a certain amount of MNT(P) allows earn a discount when sending GOLD.
- Users that have more than 10,000 MNT(P) tokens are allowed to run the MINT blockchain node on their own servers, connect it to the MINT blockchain, and receive remuneration from each transaction in GOLD and MNT(P).
- There is no commission for buyers/sellers of crypto assets GOLD on the GoldMint website who have more than 1000 MNT(P) tokens.