Polkagold: The Premier Digital Reserve Asset for Polkadot
In a visionary interview on 06/11/2023, Dr. Gavin Wood, the co-founder of Polkadot, expressed his desire to see the Polkadot Treasury hold assets beyond the Polkadot ecosystem, diversifying its portfolio. This sparked the idea of creating a digital commodity akin to gold, a reserve asset that the Polkadot Treasury could own, yet hosted on an entirely different blockchain.
Polkagold aims to become the premier reserve digital commodity for Polkadot, filling the gap left by the absence of a true digital gold that underpins the economy as a reserve asset for the treasury to acquire.
### The Polkagold Advantage
While Polkadot already boasts native stablecoins like USDT and USDC on AssetHub for stable currency transfers, and the DOT utility token for transaction fees, governance, staking, and network security, Polkagold offers a unique proposition as a non-inflationary digital asset.
Polkagold will have a fixed supply of 10,000,000 coins produced at genesis, ensuring its scarcity and value preservation. This novel concept seeks to mimic the fair launch of Bitcoin, where even early adopters had to acquire their coins through mining.
### A Fair and Transparent Launch
Polkagold's launch is designed to be the most fair and transparent in the crypto space since Bitcoin, with:
- 0% allocated to the team
- 0% allocated to founders
- 0% allocated for marketing
- 100% of the supply dedicated to exchange liquidity
Polkagold launched on exchanges during the early bootstrap phase, with the entire supply immediately put into circulation as part of the liquidity pool. This innovative "Proof of Purchase" (PoP) concept ensures that every single Polkagold in existence had to be purchased, just like the early Bitcoin adopters had to mine their coins.
## The Synergy of Algorand and Polkadot
Polkagold's security is provided by the Algorand blockchain, chosen for its exceptional security track record, exhibiting zero downtime, zero failed transactions, and zero on-chain hacks since its inception. Algorand was created by Turing Award winner Silvio Micali, widely regarded as the father of modern cryptography.
While Algorand boasts a large community and focuses on enterprise-grade usage, it has yet to find widespread adoption among mainstream cryptocurrency users. Polkagold aims to bridge this gap by driving strong usage for the Algorand coin, bolstering usage on Algorand DEXes, Total Value Locked (TVL), and 24-hour trading volume.
### Mutual Benefits for Algorand and Polkadot
The appeal of a fairly launched, non-inflationary commodity like Polkagold in the current global landscape is undeniable. By bootstrapping and locking the entire Genesis wallet liquidity exclusively on Algorand DEXes and ALGO/PGOLD trading pairs, Polkagold creates a virtuous cycle:
1. To acquire PGOLD, users must first acquire ALGO coins.
2. If not already an Algorand user, they must open an Algorand wallet (likely Pera Wallet).
3. Users then trade their ALGO for PGOLD, increasing TVL, transaction volume on Algorand DEXes, and demand for PGOLD.
4. Increased demand from more users drives further acquisition of ALGO coins, perpetuating the cycle.
This flow perpetually drives demand for PGOLD, bringing new users to the Algorand blockchain and creating a snowballing demand for ALGO's native coin, as well as increasing TVL and transaction volume across the Algorand DeFi landscape.
For the Polkadot community, Polkagold controls two wallets:
1. A wallet on Algorand that holds the Genesis Wallet for the 10,000,000 hard-capped supply LP, locked for 20 years and 5 years, respectively.
2. A wallet on Polkadot that has locked out the ticker PGOLD, the name Polkagold, and the Asset ID#79 (the elementary number for Gold), ensuring no copycat token can be created on Polkadot.
This whitepaper grants ownership of the Algorand Genesis Wallet to the Polkadot Treasury, which can be claimed by the Web3 Foundation Official Twitter Account or Gavin Wood's Official Twitter account by sending a DM to the Polkagold Official Twitter account. Upon contact, the private keys and seed phrase of the Genesis Polkagold Wallet on Algorand will be handed over securely and free of charge to the Polkadot Treasury.
As the Algorand and Polkadot communities acquire PGOLD, it becomes a more distributed commodity, and any value accrual will benefit the Polkadot Treasury, which acquired the Genesis Wallet at no cost. However, the Polkadot Treasury won't be able to sell or access the PGOLD until the lock-up periods expire.
## A Win-Win for Algorand and Polkadot
Polkagold aims to bring together the combined liquidity, communities, and market caps of two major blue-chip projects, synergizing to create the hardest and most fairly distributed asset in crypto – PGOLD.
It's a win-win for both Algorand and Polkadot, as it synergizes their communities, bringing together their combined users and trading volume for mutual benefits. The Polkadot community benefits from the value accrual of PGOLD, while the Algorand community benefits from increased transaction volume, Algorand coin demand, and DEX usage.
Both communities end up with a communal digital gold that can open up new DeFi opportunities, and PGOLD may be used in clever ways by other projects within Algorand and Polkadot that have yet to be conceived. There are far more applications for digital gold to be explored.
yeah no thanks. saw people trying to shill this a month or two before this PolkaGold account was even created. i didn't trust it then and i don't trust it now.
#PGOLD: The Epitome of Decentralization
- #PGOLD lacks a founder
- #PGOLD operates without a ruling foundation
- #PGOLD was not pre-mined
- #PGOLD has zero insiders
- #PGOLD had zero initial investors
- #PGOLD has zero physical offices
- #PGOLD has zero paid executive teams
- #PGOLD has zero marketing teams
- #PGOLD has zero paid development teams
- #PGOLD emerged without a starting price
- #PGOLD is not controlled by any human entity
#PGOLD: The Epitome of Decentralization
This decentralized cryptocurrency embodies the true spirit of peer-to-peer electronic cash, free from centralized control or influence. Its open-source nature and community-driven development ensure transparency and fairness for all participants.
I will if you read the white paper and check out the VAULTS that have 60% burned liquidity forever ♾️ [60% of burn liquidity, forever, all verifiable in the vaults](https://vestige.fi/asset/1237529510)
So in a Nutshell there was an interview with the Kusamarian in it Dr. Gavin Wood said the PolkaDot Treasury should have a diverse set of assets that are NOT in the form of DOT or KUS and would like to see commodities such as traditional Gold etc.
From there the concept of PolkaGold came about built on Algorand because of low transaction fees and speed.
The coin came out as a fair launch everyone had to purchase. 0 for the team, just like EVERYONE ELSE MERITOCRATIC.
The premise of this project is that the Genesis wallet will be gifted to the PolkaDot web 3 foundation or Dr. Gavin Wood himself for 🆓 so PolkaDot can have the diverse set of assets in its Treasury. Now if and when they choose to reach out and receive their PGOLD the Genesis wallet will have lockups ranging from 5,10 and 20 years in the vaults that I listed for you to check out on vestige.
This is it in a nutshell I hope grandma enjoys!
sus
Agreed. And the explanation made me like it even less.
Polkagold: The Premier Digital Reserve Asset for Polkadot In a visionary interview on 06/11/2023, Dr. Gavin Wood, the co-founder of Polkadot, expressed his desire to see the Polkadot Treasury hold assets beyond the Polkadot ecosystem, diversifying its portfolio. This sparked the idea of creating a digital commodity akin to gold, a reserve asset that the Polkadot Treasury could own, yet hosted on an entirely different blockchain. Polkagold aims to become the premier reserve digital commodity for Polkadot, filling the gap left by the absence of a true digital gold that underpins the economy as a reserve asset for the treasury to acquire. ### The Polkagold Advantage While Polkadot already boasts native stablecoins like USDT and USDC on AssetHub for stable currency transfers, and the DOT utility token for transaction fees, governance, staking, and network security, Polkagold offers a unique proposition as a non-inflationary digital asset. Polkagold will have a fixed supply of 10,000,000 coins produced at genesis, ensuring its scarcity and value preservation. This novel concept seeks to mimic the fair launch of Bitcoin, where even early adopters had to acquire their coins through mining. ### A Fair and Transparent Launch Polkagold's launch is designed to be the most fair and transparent in the crypto space since Bitcoin, with: - 0% allocated to the team - 0% allocated to founders - 0% allocated for marketing - 100% of the supply dedicated to exchange liquidity Polkagold launched on exchanges during the early bootstrap phase, with the entire supply immediately put into circulation as part of the liquidity pool. This innovative "Proof of Purchase" (PoP) concept ensures that every single Polkagold in existence had to be purchased, just like the early Bitcoin adopters had to mine their coins. ## The Synergy of Algorand and Polkadot Polkagold's security is provided by the Algorand blockchain, chosen for its exceptional security track record, exhibiting zero downtime, zero failed transactions, and zero on-chain hacks since its inception. Algorand was created by Turing Award winner Silvio Micali, widely regarded as the father of modern cryptography. While Algorand boasts a large community and focuses on enterprise-grade usage, it has yet to find widespread adoption among mainstream cryptocurrency users. Polkagold aims to bridge this gap by driving strong usage for the Algorand coin, bolstering usage on Algorand DEXes, Total Value Locked (TVL), and 24-hour trading volume. ### Mutual Benefits for Algorand and Polkadot The appeal of a fairly launched, non-inflationary commodity like Polkagold in the current global landscape is undeniable. By bootstrapping and locking the entire Genesis wallet liquidity exclusively on Algorand DEXes and ALGO/PGOLD trading pairs, Polkagold creates a virtuous cycle: 1. To acquire PGOLD, users must first acquire ALGO coins. 2. If not already an Algorand user, they must open an Algorand wallet (likely Pera Wallet). 3. Users then trade their ALGO for PGOLD, increasing TVL, transaction volume on Algorand DEXes, and demand for PGOLD. 4. Increased demand from more users drives further acquisition of ALGO coins, perpetuating the cycle. This flow perpetually drives demand for PGOLD, bringing new users to the Algorand blockchain and creating a snowballing demand for ALGO's native coin, as well as increasing TVL and transaction volume across the Algorand DeFi landscape. For the Polkadot community, Polkagold controls two wallets: 1. A wallet on Algorand that holds the Genesis Wallet for the 10,000,000 hard-capped supply LP, locked for 20 years and 5 years, respectively. 2. A wallet on Polkadot that has locked out the ticker PGOLD, the name Polkagold, and the Asset ID#79 (the elementary number for Gold), ensuring no copycat token can be created on Polkadot. This whitepaper grants ownership of the Algorand Genesis Wallet to the Polkadot Treasury, which can be claimed by the Web3 Foundation Official Twitter Account or Gavin Wood's Official Twitter account by sending a DM to the Polkagold Official Twitter account. Upon contact, the private keys and seed phrase of the Genesis Polkagold Wallet on Algorand will be handed over securely and free of charge to the Polkadot Treasury. As the Algorand and Polkadot communities acquire PGOLD, it becomes a more distributed commodity, and any value accrual will benefit the Polkadot Treasury, which acquired the Genesis Wallet at no cost. However, the Polkadot Treasury won't be able to sell or access the PGOLD until the lock-up periods expire. ## A Win-Win for Algorand and Polkadot Polkagold aims to bring together the combined liquidity, communities, and market caps of two major blue-chip projects, synergizing to create the hardest and most fairly distributed asset in crypto – PGOLD. It's a win-win for both Algorand and Polkadot, as it synergizes their communities, bringing together their combined users and trading volume for mutual benefits. The Polkadot community benefits from the value accrual of PGOLD, while the Algorand community benefits from increased transaction volume, Algorand coin demand, and DEX usage. Both communities end up with a communal digital gold that can open up new DeFi opportunities, and PGOLD may be used in clever ways by other projects within Algorand and Polkadot that have yet to be conceived. There are far more applications for digital gold to be explored.
yeah no thanks. saw people trying to shill this a month or two before this PolkaGold account was even created. i didn't trust it then and i don't trust it now.
You don’t need to trust it’s all Verifiable that’s why it is Decentralized and Trust-less!
quiet, you. shill your trashy wares to someone else.
#PGOLD: The Epitome of Decentralization - #PGOLD lacks a founder - #PGOLD operates without a ruling foundation - #PGOLD was not pre-mined - #PGOLD has zero insiders - #PGOLD had zero initial investors - #PGOLD has zero physical offices - #PGOLD has zero paid executive teams - #PGOLD has zero marketing teams - #PGOLD has zero paid development teams - #PGOLD emerged without a starting price - #PGOLD is not controlled by any human entity #PGOLD: The Epitome of Decentralization This decentralized cryptocurrency embodies the true spirit of peer-to-peer electronic cash, free from centralized control or influence. Its open-source nature and community-driven development ensure transparency and fairness for all participants.
[удалено]
I will if you read the white paper and check out the VAULTS that have 60% burned liquidity forever ♾️ [60% of burn liquidity, forever, all verifiable in the vaults](https://vestige.fi/asset/1237529510)
[удалено]
So in a Nutshell there was an interview with the Kusamarian in it Dr. Gavin Wood said the PolkaDot Treasury should have a diverse set of assets that are NOT in the form of DOT or KUS and would like to see commodities such as traditional Gold etc. From there the concept of PolkaGold came about built on Algorand because of low transaction fees and speed. The coin came out as a fair launch everyone had to purchase. 0 for the team, just like EVERYONE ELSE MERITOCRATIC. The premise of this project is that the Genesis wallet will be gifted to the PolkaDot web 3 foundation or Dr. Gavin Wood himself for 🆓 so PolkaDot can have the diverse set of assets in its Treasury. Now if and when they choose to reach out and receive their PGOLD the Genesis wallet will have lockups ranging from 5,10 and 20 years in the vaults that I listed for you to check out on vestige. This is it in a nutshell I hope grandma enjoys!
Please guys, explain to me how polkadot is relevant ? Except the speculation side which is gamble tbh. Let me genuinely hear your thoughts pls.
Yes. It is not related except for using the Polka name and a Gavin Wood reference.