The Klaytn Foundation, dedicated to developing and decentralizing South Korea’s prominent Layer 1 blockchain, announced a significant milestone as CREDER, a member of the Klaytn Governance Council (GC), unveils $GPC (Gold-Pegged Coin). $GPC is a digital asset tethered to the real-time market price of gold and represents a groundbreaking move in the realm of real-world asset (RWA) tokenization.
This initiative brings forth two industry firsts: $GPC is the inaugural tokenized gold available on a decentralized finance (DeFi) platform outside the Ethereum ecosystem. Moreover, it stands out as the first gold-pegged token that refrains from charging percentage-based commissions for transactions. These distinctive features underscore $GPC’s commitment to providing genuine benefits in real-world asset tokenization.
One of the primary advantages of $GPC lies in Klaytn’s low gas fees, enabling even individuals with modest investment capital to seamlessly incorporate gold into their portfolios without significant gas fees diluting their investments. The absence of percentage-based fees ensures that on-chain gold trading remains cost-effective, regardless of transaction size.
CREDER’s Goldstation is another development, serving as the inaugural gold RWA token DeFi platform powered by a public mainnet other than Ethereum. Commencing services on January 24, 2024, Goldstation offers $GPC staking and transforms gold investments by introducing DeFi interest revenue generation opportunities. Leveraging Klaytn’s low transaction fees, high TPS capabilities, and support for the ERC-3643 tokenization standard, Goldstation emerges as a hyper-efficient and more profitable gold investment destination.
To mint $GPC, users need to convert their gold assets into NFTs via The Mining Club, a platform operated by CREDER. This establishes users’ unique digital ownership of real gold assets using blockchain technology. After recording gold assets as NFTs, users can issue $GPC at Goldstation by collateralizing their gold NFTs. The entire process, from physical gold to $GPC tokenization, is user-friendly and involves just a few clicks, facilitated by connecting supported crypto wallets such as Kaikas, Metamask, and Kakao KLIP.
While Goldstation is currently available only for South Korean residents, there are plans for a global launch in the future.
The Klaytn Foundation collaborated closely with CREDER leading up to the launch, sharing its business network of domestic and foreign partners and cooperating on regulatory compliance, platform optimization, and global marketing. With Klaytn’s recent integration of the ERC-3643 tokenization standard, Klaytn Foundation and CREDER plan to expand precious metals RWA tokenization beyond gold comprehensively.
James Lim, CEO of CREDER, emphasized, “Gold NFTs and $GPC can be ledgered on-chain for anyone through Oracle Network’s Proof of Reserve (POR). We will create a new standard for RWA with Klaytn based on the power of transparency and trust that Web 3.0 finance will deliver.”
Sam Seo, Representative Director of Klaytn Foundation, expressed satisfaction, stating, “We are very pleased that Klaytn is the mainnet of choice for CREDER’s Goldstation, the first gold RWA token DeFi platform outside of the Ethereum ecosystem. Moving forward, we will closely cooperate with them to deliver more diverse metal RWA tokenization projects for the domestic and global markets.”
About CREDER
Established in 2022, CREDER is a digital transformation (DX) company conducting Korea’s first 100% real gold-based RWA tokenization business. Serving as the governance council of Korea’s leading global Layer 1 blockchain platform, Klaytn, CREDER has developed a DeFi platform for gold NFTs and tokens linked to real gold.
About Klaytn Foundation
Established in 2020, the Klaytn Foundation aims to expand the ecosystem of Klaytn, a global Layer 1 blockchain platform. Actively collaborating with its Governance Council members worldwide, Klaytn Foundation facilitates the adoption and development of new technologies. It plans to fully implement the Decentralization Phase of the Klaytn blockchain in 2023 and beyond.
Image by Danilo Batista from Unsplash
Read other stories: WISe.ART, Secures Strategic Investment from The Hashgraph Association
Green-X Lists Tai Shan Digital’s Innovative Ceramic Asset Token “TS1”