- Who is the interested party for this collateral application?
- Provide a brief high-level overview of the project, with a focus on the applying collateral token.
CACHE Gold tokens are fully regulated, public, transparent, redeemable tokens backed by gold stored in vaults around the world. Each token is backed by one gram of pure, investment grade gold. CACHE Gold is different from other gold backed tokens in several key ways:
Superior transparency: Through the CACHE Gold Explorer, CACHE provides real-time tracking data on all the bars backing CACHE Gold. Tracking data includes location, photograph, serial number, weight, purity, refiner, current valuation and more. Tracking data is provided directly by the vaults that store the gold (Brink’s, Loomis, Dillon Gage IDS and The Safe House).
Superior redemption options: CACHE Gold provides multiple redemption options in multiple regions: vault pickup, shipping, or sale for USD. CACHE also provides significantly smaller 100 gram ($6,250) and 1 kilogram ($62,500) bars than the 400 toz LBMA good delivery bars (~$750,000+) that competing tokens offer for redemption.
Decentralized: Unlike competing tokens, CACHE limits its role to exchanging physical gold for tokens and vice versa. Liquidity, vaulting and exchange are left to industry leading vaults and liquidity providers. This provides a number of benefits such as eliminating a single point of failure and creating a competitive market place for token holders to sell their redeemed gold or to obtain competitive shipping/fulfillment offers if they wish to take physical delivery. CACHE is designed such that any reputable industry player (vaults, dealers, retailers, distributors, logistics companies, exchanges, etc.) can participate in and profit from CACHE Gold.
Flexibility: CACHE Gold is backed by pure grams of gold and its asset tracking system (GramChain) can support any type of gold, regardless of weight or purity, as long as it meets industry standards for investment grade gold. CACHE Gold is currently backed by 100 gram and 1 kilogram bars, but this may change over time as demand dictates.
Industry Experience: Unlike other gold backed tokens, CACHE Gold was founded, designed and developed by precious metals industry veterans.
- Provide a brief history of the project.
CACHE Private Limited was incorporated in Singapore in August 2018 with the goal of designing and developing a regulated, transparent, freely tradable, fully redeemable gold token that can scale to millions of ounces (billions of dollars USD).
- Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses. If the system is complex, schematic(s) are especially appreciated.
Smart Contract Address: 0xf5238462e7235c7b62811567e63dd17d12c2eaa0
Asset Explorer: https://explorer.cache.gold
Technical Documentation: https://github.com/cache-token/docs
Home Page: https://cache.gold
- Link any available audits of the project. Both procedural and smart contract focused audits.
Smart Contract Audit: https://github.com/cache-token/docs/blob/master/CACHE_Gold_Audit_Zerotrust.pdf
- Link to any active communities relating to your project.
- How is the applying collateral type currently used?
Each CACHE Gold token is backed by one gram of pure investment grade gold. CACHE Gold is used to track the current spot price of gold and is redeemable on demand for physical gold bars or the equivalent value in USD. See this video for more details on what CACHE Gold is used for.
- Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?
CACHE Private Limited holds the storage contracts for the underlying gold.
CACHE Private Limited was incorporated in Singapore and is licensed and regulated by the Singapore Ministry of Law as a precious stones and precious metals dealer.
- Where does exchange for the asset occur?
CACHE Gold is currently traded on centralized (e.g. Bittrex Global) and decentralized (e.g. Uniswap) digital asset exchanges. Redemption orders can be submitted on CACHE’s website at https://cache.gold/redeem.
- (Optional) Has your project obtained any legal opinions or memoranda regarding the regulatory standing of the token or an explanation of the same from the perspective of any jurisdiction? If so, those materials should be provided for community review.
Yes we have. CACHE Gold is not a security, financial instrument or digital payment token, it is an asset backed token.
- (Optional) Describe whether there are any regulatory registrations for the token and provide related documentation (including an explanation of any past or existing interactions with any regulatory authorities, regardless of jurisdiction), if applicable.
CACHE Private Limited is a licensed precious stones and precious metals dealer by the Ministry of Law in Singapore and holds license number PS20190001508.
- (Optional) List any possible oracle data sources for the proposed Collateral type.
The CACHE Explorer provides real-time data for the gold bars backing CACHE Gold. All tracking data is hashed and broadcasted to the Ethereum blockchain to prevent data tampering, manipulation or deletion.
In terms of pricing data, any reliable and reputable oracle or feed for the spot price of gold is suitable. We can also provide our own.
- (Optional) List any parties interested in taking part in liquidations for the proposed Collateral type.
If accepted, CACHE Private Limited (and perhaps some of its shareholders independently) would be interested and willing to provide significant additional collateral as well as to participate in liquidations.
We are happy to answer any additional questions the community has.
Thanks for reading.