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What is KGOLD?

KGOLD is the gold token of Kulce Commodities. It is an ERC-20 token on Ethereum with 18 decimals, where:

1 KGOLD = 1 gram of fine gold

This gram-based denomination is intentional. Institutional gold markets often operate around troy ounces and large bars. A gram-denominated token makes physical gold easier to understand, quote, and purchase in smaller amounts.

KGOLD is designed around four principles:

  1. Physical backing: KGOLD supply is intended to remain within the amount of fine gold attested by Kulce Commodities and its custody records. An on-chain supply cap prevents minting beyond that reserve.
  2. Accessible denomination: One KGOLD represents one gram of fine gold, making the product more approachable than wholesale bar-based ownership.
  3. Transparent operations: Key parameters, settlement events, supply, and governance actions are visible through on-chain records and public-facing reserve reporting.
  4. Responsible control: Critical changes are governed by a multi-member Council approval process, hardware-protected signing, and a 24-hour on-chain delay before normal privileged changes take effect.

Eligible users complete onboarding and KYC, fund their wallet with USDT, and submit buy or sell requests. The protocol prices each request using a live XAU/USD gold price feed, converts the troy-ounce quote into a per-gram USDT price, applies current spread and fee parameters, and records the request on-chain.

Identity verification is required for primary-market buying and selling with Kulce. Once KGOLD is held in a wallet, the ERC-20 token can be transferred peer-to-peer without needing to pass through the issuer for each transfer.