Lately, there have been numerous crypto projects that offered tokens backed by gold, or other precious metals and even gems, which attempted to accomplish their funding goals by means of ICO. However, only a handful of such startups suggested the possibility of purchasing actual gold products through blockchain, with TROY being probably one of the most prominent.
The project introduces GOLD, the digital tokens issued on the Ethereum blockchain and compliant with the ERC-20 standard, which the holders can spend on the products made of gold mined in Australia, store in a secure digital vault, or convert to other cryptocurrencies or fiat via the partnered crypto exchanges. Currently, TROY is at the stage of the private sale of GOLD, which can be purchased with a sizable token bonus.
TROY is incorporated with the company Tipbot LTD, which was established at the tail end of 2017. At its inception, this entity was engaged in the development of a user-friendly digital solution for instant financial transactions.
The company is officially registered in the jurisdiction of Malta in the town of St. Paul’s Bay. Its registration number is C87655, which checks against the open corporate databases. In 2018, Tipbot had already carried out a successful token offering which allowed the company to secure the contract for the purchase of 20 thousand ounces of gold and commence the development of TROY and all of its components.
The company had also acquired the official approval from the EU regulators, passed the KYC & AML checkups, proved its compliance with GDPR, and received authorization from the Australian Joint Ore Reserves Committee (JORC).
TROY is one of the projects that will help the Republic of Malta to achieve its proclaimed goal of becoming the first blockchain island. It is a win-win situation for both parties since the Maltese authorities vetted TROY as a distributor of tokenized gold products.
The precious metal will be provided by Bullseye Mining Ltd., the fledgling gold producer registered with the Australian Securities and Investment Commission. The obtained gold will be stored in the Perth Mint, the official bullion mint at the property of the Government of Western Australia.
GOLD tokens can be used to purchase gold bars, jewelry, medallions, personalized items, or stored in the TROY Vault which is compatible with all tokens of the ERC-20 and ERC-223 standards. All recipients of these tokens will be granted a new account in the Vault for free. The Vault has such features as the multi-level biometric security, paper wallets, and social messaging.
TROY is currently holding the pre-sale of GOLD with the price of one token established at $1.12. The official website also states that the project is willing to negotiate the private purchase of tokens that also provides for a 40% token bonus. TROY funding goals are the following: $3 million as a softcap and $23,3 being the hardcap. GOLD can be purchased only with Ethereum. KYC is mandatory for all investors. Citizens of the United States are barred from the token sale.
|Start||September 24, 2019|
|End||January 9, 2020|
|24 days left|
|Soft cap||$3 000 000|
|Hard cap||$23 345 391|
|Minimum investment||1 GOLD|
|Tokens for sale||27000000|
I see that a lot of people don't believe in the efficient combination of gold and cryptocurrencies. They think that it is some kind of scam that will blow in the faces of everyone who gets involved. Well, people thought the same way about Bitcoin not that long ago, and now they are buying it, waiting impatiently for another price dip. The same will have to Troy and other gold-backed cryptocurrencies - mark my words.
Tilly Willy November 30, 2019 Reply
On paper, Troy looks legit and promising but that doesn't mean that one should invest in this startup right away. Although I am considering this option, because Troy is literally the only startup which intends to occupy the niche of tokenized gold and provides some concrete information about the origins of this precious metal, as well as the company that should turn the raw gold into some products. I would have to do more in-depth research about Australian gold, but I like everything about Troy so far.
BashKo November 9, 2019 Reply
Out of all blockchain projects that offer the gold-backed digital tokens, Troy appears to be the most reliable one. First of all, the project provides definite proof of the origin of the precious metal, which is a huge deal for any responsible investors. You wouldn't want that gold to be seized by the authorities because it was involved in some shady schemes. Besides, gold appears to be the only asset worthy of keeping, apart from Bitcoin, of course, so Troy represents a natural symbiosis of the two.
Marta October 17, 2019 Reply
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